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Magic Eden NFT Marketplace Set To Launch Its Bitcoin NFT Launchpad Today

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Magic Eden Launchpad
Magic Eden Launchpad

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Magic Eden, the digital marketplace for non-fungible tokens, has announced plans to launch Bitcoin launchpad this week. The new NFT launchpad appeared amid the rise in the adoption of Bitcoin Ordinals, which has topped over 1 million.

Magic Eden Launches Bitcoin NFT Launchpad

In an April 7 blog post, Magic Eden NFT marketplace confirmed plans to launch its Bitcoin NFT launchpad. The new launchpad is a sales platform for creators who have inscribed their artworks or media to the Bitcoin blockchain.

To kick off its launchpad, Magic Eden is teaming with the Ethereum-based NFT collection Godjira to release its Bitcoin-based (Dead)Jira collection on April 7. Genopets, the Solana -based NFT game project, fellow existing NFT projects Lazy Lions, and The Humanoids, a project from popular rapper Lil Durk, have also announced plans to launch new Bitcoin NFTs.

The new Bitcoin NFT launchpad will allow creators to sell Ordinals NFTs that have been inscribed to the network. While commenting about the new launchpad, a Magic Eden representative said that creators could use an allowlist to let certain wallet addresses mint Ordinals before the official launch, which will allow users to mint in a trustless minting form.

Bitcoin Inscription Nears 1M Mark

In recent weeks, the Ordinals protocol for inscribing non-fungible tokens on Bitcoin, similar to digital assets on Ethereum, Solana,  and other blockchain networks, has gained adoption among creators, with ordinal inscriptions surpassing 900,000. While commenting about the Bitcoin NFTs, Tiffany Huang, the head of marketing at Magic Eden, remarked:

“A lot of creators understand the value it offers, how it differentiates from other blockchains, and how having presence on Bitcoin can be complimentary to a collection or brand. But, inscribing and selling Ordinals can also be quite loaded with friction to get started.”

In the meantime, Magic Eden hopes the new Bitcoin launchpad will help more creators embrace the burgeoning Ordinals space. Notable creators that have already adopted the Ordinal protocol include Yuga Labs, which recently launched Twelvefold generative art project, DeLabs with BTC DeGods, and photographer Justin Aversano, among others.

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