Magic Eden Launches Bitcoin Ordinal Inscription Market, Partners With Hiro, Xverse to Bolster Support

On Monday, the non-fungible token (NFT) marketplace Magic Eden announced the motorboat of Bitcoin Ordinal inscription support. Magic Eden said it has partnered with the wallets Hiro and Xverse to “bring a acquainted wallet transaction acquisition to the marketplace.”

Magic Eden’s Decision to Launch connected Bitcoin Without Royalty Support and Compete With Emerging Markets

Magic Eden announced successful a caller blog station that it has added Bitcoin Ordinal inscription enactment to the NFT marketplace. Last year, the Solana-based NFT marketplace expanded to Polygon and Ethereum. With the summation of Bitcoin, Magic Eden present supports a full of 4 blockchains. The squad is besides “re-planning a much concerted introduction into Ethereum,” according to the blog post.

The Bitcoin-centric section of the marketplace presently features respective Bitcoin Ordinal inscription collections, including “Bitcoin Boos,” “Bitcoin JPGs,” “BTC Machines,” “Ordinal Tortoises,” “Unordinals,” “Satoshi Punks, and “Megapunks.”

Popular Bitcoin Ordinal inscription collections hosted connected Magic Eden’s NFT marketplace.

At the clip of writing, determination were adjacent to 600,000 Ordinal inscriptions connected the Bitcoin blockchain, with a full of 567,622 minted. According to statistics from Dune Analytics, the fig of Ordinal inscriptions surpassed the 500,000 milestone connected March 17, 2023.

Magic Eden says the caller determination to enactment Ordinal inscriptions is successful enactment with Bitcoin culture. “By gathering connected Bitcoin, we lend to the civilization of trust, security, and decentralization that is synonymous with the blockchain,” the NFT marketplace explained.

The blog station goes connected to say:

This determination aligns with our ngo to beforehand the benefits of collectibles and blockchain exertion portion remaining existent to the principles that underpin the technology.

Magic Eden’s Bitcoin-centric marketplace volition vie with different Ordinal inscription markets that person emerged since inscriptions started gaining traction, specified arsenic Gamma.io, Ordx.io, and Generative.xyz. The marketplace, however, has been an progressive NFT marketplace for immoderate time, arsenic Magic Eden has recorded $2.08 cardinal successful all-time sales. To creaseless the Ordinal inscription enactment process, the NFT marketplace Magic Eden partnered with the wallets Hiro and Xverse.

According to dappradar.com statistics, Magic Eden ranks arsenic the fifth-largest NFT marketplace successful presumption of all-time sales. As acold arsenic Bitcoin-based Ordinal inscription income are concerned, Magic Eden said it spent a agelong clip reasoning astir handling royalties and “decided to motorboat connected Bitcoin without royalty enactment for now.” Magic Eden has besides created a caller Twitter grip for the Bitcoin-centric mentation of the NFT marketplace, which is called @meonbtc.

What bash you deliberation the aboriginal holds for Bitcoin-based NFT marketplaces? Share your thoughts successful the comments conception below.

Image Credits: Shutterstock, Pixabay, Wiki Commons, Magic Eden,

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