NFT marketplace Magic Eden launches support for Bitcoin Ordinals

Popular non-fungible token marketplace Magic Eden is leveraging the surging interest in Bitcoin NFTs with launching its services for Bitcoin Ordinals.

NFT marketplace Magic Eden launches support for Bitcoin Ordinals

With the announcement, Magic Eden becomes the first major NFT marketplace to join the Bitcoin Ordinals trend.

This newly launched marketplace will allow users to buy and sell Bitcoin Ordinal collections, giving users a similar experience to the one that Magic Eden offers for other blockchain networks including Polygon, Ethereum and Solana. 

Ordinals protocol was introduced in January by Casey Rodarmor, the former Bitcoin core contributor. Since then, popularity of Bitcoin Ordinals has surged with numerous collections going live as Bitcoin NFTs.

Magic Eden: Bitcoin Ordinals

According to data from Dune analytics, the total number of Bitcoin Ordinals inscriptions surged from 679 to 240,000 between Feb. 1 and March 1. As of March 21, a total of 567,087 Bitcoin Ordinals have been inscribed. 

Magic Eden only supports secondary sales of Bitcoin Ordinals currently stating that the marketplace is looking into future tools to allow creators to more easily mint or inscribe Bitcoin NFTs just as it offers for other blockchain networks. The marketplace uses partially signed Bitcoin transactions for permissionless swaps.

However, Magic Eden is not the only one NFT marketplace for Bitcoin Ordinals, as other marketplaces have already launched services including ORDX and Generative XYZ. The popular NFT platform unveiled its own Bitcoin Ordinals marketplace earlier this week, allowing users to create and trade ordinal inscriptions.

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