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Magic Eden introduces Bitcoin Ordinal NFT creator platform

After the launch of a Bitcoin NFT marketplace in March, the company is increasing its resources for creators to securely mint their inscriptions prior to selling them to collectors.

Magic Eden, a marketplace for non-fungible tokens (NFTs), announced on Thursday the creation of a creator launchpad for Ordinals, which will help creators effectively inscribe their Bitcoin-based NFT collections.

While the company already has the infrastructure for creators to list and sell Ordinals, the launchpad will aid in onboarding creators to the ecosystem, making it simpler for them to create tokens on the Bitcoin network. The method of inscribing an Ordinal NFT is vastly different from that of minting a digital asset on Ethereum, presenting an entry barrier for many developers unfamiliar with Taproot and inscriptions. This prompted Magic Eden to devise a method to assist the expanding market for collectors of Ordinals.

According to Zhuoxun Yin, co-founder and chief operating officer of Magic Eden, assisting producers in minting Ordinals would contribute to the expansion of the Bitcoin tokenized asset market.

Yin added, “Bitcoin is the grandfather of all blockchains, and we believe it can be the home to pure digital artifacts. With Ordinals, content can be preserved forever, and we’re proud to be helping creators and the Ordinals community grow together.”

On April 7, Magic Eden will launch its Bitcoin-based (Dead)Jira collection in partnership with the Ethereum-based NFT collection Godjira. Genopets, Lazy Lions, Humanoids, and the artist Lil Durk have also consented to produce Bitcoin inscriptions on the new platform within the following week.

Since January, interest in Ordinals has increased, and Magic Eden is prepared to capitalize on the growing market for inscriptions. Last month, Magic Eden debuted a Bitcoin NFT marketplace, enabling collectors to purchase Ordinals on the secondary market and integrating support for two Bitcoin wallets.

Magic Eden’s Head of Marketing, Tiffany Huang, stated, “We’re on the ground level listening to what is needed from all of these subgroups of the Ordinals community, and we will look to deliver on those needs. We think involvement of our expertise and resources is much needed to continue the growth of Ordinals and encourage a flourishing ecosystem.”

Magic Eden has made an effort to expand its offerings beyond Solana, the layer 1 blockchain that launched the marketplace outside of the Bitcoin network. Magic Eden founded a Web3 gaming collaborative days after launching its Bitcoin NFT marketplace, bringing together prominent blockchain-based game funds and publishers in an effort to promote the industry’s acceptance. It introduced “Mint Madness” earlier this month, allowing users to generate free NFTs for a variety of Web3 games.

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