Magic Eden Launches Marketplace For Bitcoin NFTs, As Inscribed Ordinals Hit 600K

Updated: 22 March 2023

Disclosure

Don’t invest unless prepared to lose all the money you invest. This is a high-risk investment, you shouldn’t expect to be protected if something goes wrong.

Join Our Telegram channel to stay up to date on breaking news coverage

Magic Eden, the popular digital market platform focused on driving the next billion users to Web3, has launched a digital marketplace, letting users buy and sell Bitcoin NFTs. The new marketplace appeared amid the rapid rise of Ordinal NFTs in recent weeks.

Magic Eden Launches Bitcoin NFT Marketplace

In a March 21 press release, Magic Eden confirmed launching the new Bitcoin NFT marketplace. The marketplace will feature a good user experience and interface that provide NFT users with a familiar trading experience. Commenting about the new marketplace, Jack Lu, the co-founder of Magic Eden, remarked:

“Bitcoin Ordinals bring a whole new dimension into the universe of NFTs. On Bitcoin, all media that is uploaded onto the chain cannot be changed or removed. We’re excited to bring our winning marketplace user experience we’ve developed over the last year and a half to Bitcoin.”

Magic Eden’s Bitcoin NFT marketplace appeared when the total inscribed ordinals surpassed 600,000. Ordinals are digital artifacts securely inscribed on the Bitcoin chain using the Satoshi ordinal theory. They can be images, videos or digital artworks.

Welcome to a new dawn. Magic Eden is now on Bitcoin.

Now, you can safely trade your favorite collectibles on the 1st audited marketplace with $BTC 🤝

Explore 70+ collections on our marketplace: https://t.co/WiYYgIWPG5

Don't forget to follow @MEonBTC! pic.twitter.com/KNCrVFrCTu

— Magic Eden 🪄 (@MagicEden) March 21, 2023

Bitcoin NFT Marketplace Overview

The new Bitcoin NFT marketplace is a fully audited platform to make secure options for trading. It will require users to adopt either of the listed non-custodial wallets, “Hiro and Xverse,” to process transactions. These crypto wallets will offer a Phantom-like experience, such as efficient listing, delisting, buying, selling, and facilitating NFT transactions.

Magic Eden partnered with popular Bitcoin NFT collections during its launch, including Taproot Wizards, Inscribed Pepes, and Bitcoin Bandits. The new NFT market platform will allow users to explore artifact information, including Ordinal rarity, age, name, and inscription numbers.

In the meantime, Magic Eden has vowed to continue updating the platform to create a more advanced and built-out experience. Since its inception in 2021, Magic Eden has been giving NFT collectors and traders on Solana, Ethereum, and Polygon the most user-friendly experience.