Magic Eden’s NFT marketplace has just extended its services to the Bitcoin blockchain to trade Ordinals. While this novelty still divides the community, the first exchanges have already taken place.
Magic Eden is now available on Bitcoin
While the protocol divides as much as it excites within the Bitcoin community (BTC), the non-fungible token (NFT) marketplace Magic Eden has chosen to follow the trend by opening up to this new feature:
Welcome to a new dawn. Magic Eden is now on Bitcoin.
Now, you can safely trade your favorite collectibles on the 1st audited marketplace with $BTC
Explore 70+ collections on our marketplace: https://t.co/WiYYgIWPG5
Don’t forget to follow @MEonBTC! pic.twitter.com/KNCrVFrCTu
– Magic Eden (@MagicEden) March 21, 2023
From a purely technical point of view, an Ordinals registration is not an NFT, nevertheless, it is very close to it in the philosophy that surrounds it. That’s why this part of the ecosystem has been buzzing for the past few weeks, as the protocol for it was finalized last January.
As these new collections develop, it makes sense to see marketplaces opening up to allow trading in these assets. That’s why Bitcoin is the latest blockchain Magic Eden has chosen to operate on:
The creation of a Bitcoin marketplace challenges the status quo and demonstrates our ability to overcome technical obstacles. Now you can easily buy, sell, list and bid on collectibles through our familiar and intuitive interface on our platform. “
Without the technical means to pay them back, the platform does not support royalties at the moment. On the other hand, Magic Eden is thinking about a future Launchpad that would support creators given the requests received, although this is not on the agenda immediately.
Anyway, the first exchanges are already taking place on the marketplace, and the DeGods BTC collection is in the lead with a volume of 6.56 BTC over the last 24 hours, and a target price of 1.069 BTC :
Volumes of the different Ordinals collections on Magic Eden
