On Monday, non-fundable token (NFT) marketplace Magic Eden announced the launch of Bitcoin Ordinal subscription support. Magic Eden said it has partnered with wallets Hiro and Xverse to “provide a familiar wallet transaction experience to the marketplace.”
Magic Eden Launches in Bitcoin Without Loyalty Support, Decision to Compete with Emerging Markets
Magic Edenannounced in a recent blog post that it has added Bitcoin Ordinal inscription support to its NFT marketplace. Over the last year, the solana-based NFT marketplace has expanded to polygons and ethereum. With the addition of Bitcoin, Magic Eden now supports a total of four blockchains. The team is also “re-planning a more coordinated entry into Ethereum,” according to the blog post.
22} The Bitcoin-centric sectionof the marketplace now showcases several Bitcoin Ordinal nameplate collections, including “Bitcoin Boo,” “Bitcoin JPG,” “BTC Machine” ,” “Ordinal Tortoise” ,” “Unordinals,” “Satoshi Punks” ,” “Mega Punks.”
At the time of writing, there are nearly 600,000 Ordinal inscriptions on the Bitcoin blockchain, with a total of567,622minted.According to Dune Analytics’statisticsthe number of Ordinal inscriptions was 2023 The number of Ordinal inscriptions exceeded the 500,000 milestone on March 17, 2023.
Magic Eden states that recent developments in response to Ordinal inscriptions are in line with Bitcoin’s culture.” Building on Bitcoin contributes to the culture of trust, security, and decentralization that is synonymous with blockchain,” the NFT marketplace explained.
The blog post states.
This move is consistent with our mission to promote the benefits of collectibles and blockchain technology while staying true to the principles that underpin the technology.
Magic Eden’s bitcoin-centric market will compete with other audinal inscription markets that have emerged since inscriptions began to become popular, such as Gamma.io, Ordx.io, and Generative.xyz. However, this has been an active NFT market for some time, as Magic Eden has recorded $2.08 billion in sales in its history.To facilitate the Ordinal inscription support process, NFT marketplace Magic Eden has partnered with wallet providers Hiro and partnered with Xverse. According to
dappradar.comstatistics, Magic Eden ranks as the fifth largest NFT marketplace by all-time sales. As for bitcoin-based Ordinal inscription sales, Magic Eden says it has thought long and hard about handling royalties and has “decided to launch in bitcoin without royalty support for now.” Magic Eden is also created a new Twitter handle for t
