In Brief
Magic Eden claims that its Bitcoin Ordinals marketplace is the only fully audited platform in the ecosystem.
Bitcoin Ordinal wallets, Hiro and Xverse, will be integrated into the platform.
At launch, Magic Eden will be partnering with 13 leading Bitcoin Ordinal collections.
The Trust Project is a worldwide group of news organizations working to establish transparency standards.
Magic Eden has launched a marketplace for Bitcoin Ordinals, becoming one of the first established multi-chain NFT marketplaces to capture its share of the Ordinals market. In addition, Magic Eden claims that its Bitcoin Ordinals marketplace is currently the only fully audited platform in the ecosystem.
Since the launch of the Ordinal Protocol in January, over 400,000 inscriptions, also known as digital artifacts, have been made on the Bitcoin blockchain. With the lack of infrastructure being a known issue in the nascent ecosystem, marketplaces, and wallets are currently being built to support Bitcoin Inscriptions.
The launch of Magic Eden’s Bitcoin Ordinals marketplace comes after Gamma.io launched its marketplace earlier this week. As the only two known Bitcoin digital artifact marketplaces currently in the ecosystem, Magic Eden and Gamma are early entrants competing for the biggest share of the market.
According to a press release, Magic Eden’s Bitcoin digital artifacts marketplace is permissionless, making it a secure option for trading. Bitcoin inscription wallets, Hiro and Xverse, will be integrated into the platform to enable efficient listing, delisting, buying, selling, and facilitation of transactions for users.
At launch, Magic Eden will be partnering with 13 leading collections, including Taproot Wizards, Inscribed Pepes, and Bitcoin Bandits. Collections within the marketplace will be subject to exemplary filtering, allowing collectors to see artifact information, including Ordinal rarity, age, name, inscription numbers, and more.
Commenting on the news, Jack Lu, CEO and co-founder of Magic Eden, said: “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. On Bitcoin, all media that is uploaded onto the chain cannot be changed or removed. This simplicity is embraced by many creators who want to create true collectibles that are inscribed onto the chain.”
As the marketplace matures, the team plans to continue updating the platform to create a more advanced and built-out experience for users.
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