Since the launch of Ordinals, a protocol that lets users digitally imprint media and text, more than 500,000 “inscriptions” have been made on the first blockchain. Now, one of the biggest markets for NFTs on other chains has started to support Bitcoin.
Now, Magic Eden, the largest Solana NFT exchange, has announced its support for Bitcoin Ordinals.
Despite the lack of infrastructure for Ordinals on Bitcoin compared to Ethereum and Solana, Magic Eden assures users that the marketplace experience will be similar to what they are used to.
With its recent launch, Magic Eden’s marketplace shows that Ordinals’ tools and infrastructure are getting up and running quickly, even though as recently as February 2023, some traders were still using public spreadsheets and Airtable forms to coordinate asking prices and trades due to the lack of official markets.
Nonetheless, Magic Eden has already planned ahead. The Ordinals marketplace currently sells digital assets on the secondary market, but it plans to offer tools for minting them on the Bitcoin blockchain. Yun said it’s unclear if it will use Solana’s minting launchpad or auctions.