Bitcoin Ordinals expands into Magic Eden: All you need to know

Bitcoin Ordinals expands into Magic Eden: All you need to know

March 22, 2023

By Suzuki Shillsalot

Magic Eden has launched its own marketplace for Bitcoin Ordinals.

The total number of Bitcoin Ordinals inscriptions has increased from 679 to 240,000 until 1 March.

Popular NFT marketplace Magic Eden has launched its own marketplace for Bitcoin [BTC] Ordinals, capitalising on the growing interest in “Bitcoin NFTs.”

The new Magic Eden marketplace enables Bitcoin NFT traders to trade Bitcoin Ordinal collections, providing users with an experience similar to that provided by the marketplace for Polygon [MATIC], Ethereum [ETH], and Solana [SOL]-based NFTs.

Magic Eden traders can buy inscriptions, which are non-fungible tokens minted on satoshis within the Bitcoin network. To assist collectors, the company is integrating support for Bitcoin wallets Hiro and Xverse to enable traders to list, buy, and sell Ordinal NFTs. Magic Eden is collaborating with popular Ordinal collections, such as Taproot Wizards, Inscribed Pepes, and Bitcoin Bandits to help users transition to Bitcoin-based NFTs.

The new marketplace will also provide details about NFTs like Ordinal rarity and inscription numbers.

While there will be no royalty support for the marketplace, Magic Eden says it is “actively looking” into it, noting that there is very little tooling and no reliable and trustless enforcement solutions.