Magic Eden launches its Bitcoin NFT marketplace

Magic Eden has launched the first fully audited Bitcoin NFT marketplace.
The marletplace has integrated two non-custodial wallets to support seamless transactions.
Magic Eden now supports NFT marketplaces for Solana, Ethereum, Polygon and Bitcoin.

Cross-chain NFT platform Magic Eden has added to the impetus around NFT Ordinals on Bitcoin by launching a fully audited Bitcoin NFT marketplace. The digital artifacts marketplace will feature everything from images and audio clips.

Magic Eden’s move means traders within the ecosystem are set to benefit from being able to buy and sell Bitcoin-based inscriptions tied to satoshi – the smallest unit of measuring value for BTC.

A new dimension to NFT universe

In a press release published on Tuesday, Magic Eden noted the infrastructure supporting Bitcoin inscriptions is growing, even as the network counts over 400,000 such digital artifacts so far. 

At the moment, the Bitcoin NFT marketplace has integrated two non-custodial wallets – Hiro and Xverse – with support for features such as listing, delisting and buying and selling. The marketplace already offers access to more than 70 collections.

3/ Why Bitcoin? Ordinal digital artifacts exist on-chain, never off-chain, and are totally immutable, meaning they cannot be altered in any way.

Add the security aspect of BTC & the decentralization of its nodes, and you get the ultimate home for true digital collectibles.

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

Commenting on the development, Magic Eden co-founder and CEO Jack Lu, noted:

“Adding a Bitcoin marketplace is really exciting for our team, considering it is the grandfather of all blockchains and we are all passionate about blockchain. Bitcoin Ordinals bring a whole new dimension into the universe of NFTs.”

Part of the early efforts aimed at accelerating adoption include Magic Eden’s partnership with 13 top collections, including Inscribed Pepes, Taproot Wizards and Bitcoin Bandits. Digital artfacts on the platform will be subject to top quality filtering, with collectors having access to details such as Ordinal rarity, name, inscription number, age and so forth.

“On Bitcoin, all media that is uploaded onto the chain cannot be changed or removed,” Lu said in a statement. “This simplicity is embraced by many creators who want to create true collectibles that are inscribed onto the chain. 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 release of a Bitcoin NFFT marketplace builds on the company’s solid foundation as a top provider of blockchain and Web3 solutions. While it remains the leading NFT marketplace for Solana, this latest move adds to recent expansions to Ethereum and Polygon.