Magic Eden, the non-fungible token (NFT) marketplace, announced on Monday the launch of its Bitcoin marketplace, offering its familiar user experience and the first audited, secure marketplace for Ordinals.
The move is part of Magic Eden’s multichain journey, as the marketplace has already built marketplaces on Solana and Polygon and is planning a more concerted entry into Ethereum.
The decision to support Bitcoin is driven by several key factors, including getting back to the roots of the blockchain and exploring emerging markets, delivering the best marketplace experience on chain, partnering with wallets Hiro and Xverse to bring a familiar wallet transaction experience onto the marketplace, and supporting the Bitcoin culture of trust, security, and decentralization.
The marketplace was built within a month, culminating in a hackathon in California with over a dozen developers. Magic Eden aims to empower creators and collectors by providing them with the tools and infrastructure they need to succeed. The marketplace challenges the status quo and showcases Magic Eden’s ability to overcome technical barriers, providing an intuitive and familiar interface for users to buy, sell, list, and bid on collectibles.
While launching with a secondary collectibles platform, Magic Eden has already received enormous demand to provide a Launchpad to deliver inscription services directly to creators. The marketplace is actively looking into the development of an on-chain, permissionless royalty standard and is committed to working with creators and the greater community.
The move to support Bitcoin aligns with Magic Eden’s mission to promote the benefits of collectibles and blockchain technology while remaining true to the principles that underpin the technology. To help push the ordinal ecosystem forward, Magic Eden plans to open source key pieces of its marketplace infrastructure in the near future. The marketplace wants to do its part and share the discoveries it has made to help this space flourish.
Overall, Magic Eden’s decision to launch its Bitcoin marketplace shows its commitment to innovation and its ability to adapt to emerging markets. The marketplace is not only expanding its reach but also contributing to the growth of the ordinal ecosystem by providing a secure and audited marketplace for collectibles. As the first major marketplace on Bitcoin, Magic Eden is paving the way for others to follow and continues to be at the forefront of the NFT marketplace industry.
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This article was republished from azcoinnews.com