Magic Eden, the leading NFT marketplace based on Solana, has launched a Bitcoin NFT marketplace to aid with listing, purchasing, and selling Ordinal NFTs. The move comes two months after the launch of the Ordinals project, and Bitcoin NFTs have seen increased adoption. Currently, there are over 568,000 inscriptions, and more popular NFT projects are jumping on the Bitcoin chain to mint their unique collections.
To enable traders to list, purchase, and sell Bitcoin-based NFTs, Magic Eden has integrated with Hiro and Xverse, two popular Bitcoin wallets. This new marketplace will provide helpful information on listed collectibles, such as the rarity and inscription numbers.
Commenting on the launch, Jack Lu, cofounder and CEO of Magic Eden, noted that “On Bitcoin, all media that is uploaded onto the chain cannot be changed or removed. This simplicity is embraced by many creators who want to create true collectibles that are inscribed on the chain.”
To onboard as many users as possible, Magic Eden has teamed up with popular projects such as inscribed pepes, Taproot Wizards, and Bitcoin Bandits, which have already inscribed their NFTs on Bitcoin. Zhuoxun Yin, cofounder of Magic Eden, said that “There’s a lot of high-value items that are being inscribed or created on the bitcoin chain, and for a very, very burgeoning NFT ecosystem, it’s been super exciting to see.” He added that “at Magic Eden, we’re working on a lot of cross-chain things anyway, and we felt like this was a really cool adjacent ecosystem for us to tackle.”
In addition, Magic Eden has been expanding its operations to cover other chains such as Ethereum, Polygon, and now Bitcoin. The main focus of the marketplace is to onboard as many users as possible, and it’s a message that is echoed by the company’s co-founders.
The launch of Magic Eden’s Bitcoin NFT marketplace follows in the footsteps of Gamma.io, which recently released its own marketplace for minting and trading Bitcoin NFTs. As NFTs continue to gain traction, it’s clear that the industry is evolving quickly, and platforms like Magic Eden are at the forefront of this exciting new space.
