Magic Eden is set to unveil a Launchpad that will assist Bitcoin Ordinals creators by allowing them to inscribe unique digital assets.
In Brief
As part of its expansion efforts, Magic Eden intends to roll out a Launchpad where creators can inscribe Bitcoin Ordinals with ease.
The inaugural launch of Ordinals is set to kick off on April 7, setting the stage for a new wave of digital collectibles.
After launching a dedicated Bitcoin Ordinals marketplace On April 7, Magic Eden will introduce a Launchpad for creators looking to inscribe Bitcoin-based digital collectibles.
Recognized as a pioneer in launching a market for Bitcoin Ordinals, Magic Eden aspires to establish a platform that simplifies the process for creators to bring their collections to life on Bitcoin.
Zhuoxun Yin, the Chief Operating Officer and co-founder of Magic Eden, remarked on the announcement, expressing enthusiasm about extending their services to Bitcoin and facilitating new avenues for creators to embark on their projects. He noted the significance of Bitcoin as the original blockchain and the potential for it to host authentic digital artifacts, emphasizing that with Ordinals, content can be retained indefinitely, and they are committed to fostering growth within the creators and Ordinals community.
Since the Ordinals protocol went live in January, it has triggered considerable activity within the Bitcoin ecosystem, reflecting a robust engagement with over $4.5 million in fees paid in connection to Ordinals so far.
Just two months prior, most transactions related to inscriptions were being conducted informally on Discord, with details logged in Excel sheets due to a lack of secure infrastructure for trading and managing Ordinals. The increasing volume in the Ordinals market clearly shows that collectors and traders are recognizing the value these digital artifacts hold. over 925,000 inscriptions Despite facing some backlash for its basic bidding process, Yuga Labs’ initial Bitcoin NFT auction achieved great success, selling out rapidly.
In the past two months, a total of six new marketplaces and three wallets have launched to facilitate Bitcoin Ordinals. While Ordinals Wallet has emerged as the most frequented platform for transactions, offering a marketplace for buying and selling inscriptions, Magic Eden is capturing the largest share of trading volume, having commanded a 71% market share as of March 29 before declining to 50% by April 5.
In conjunction with the launch, Godjira, an Ethereum-based collection, is poised to present their (Dead)jira Legacy inscription on Magic Eden on April 7. Additionally, four other creators, including Genopets, Lazy Lions, Lil Durk, and Humanoids, will also debut their Ordinals within the first week of the platform's operation. Notably, Genopets will be the first gaming title to introduce Ordinals on this new platform. generated $16.5 million .
An Introduction to Bitcoin Ordinals – The Latest Trend in NFTs for 2023. data on Dune Analytics Magic Eden has officially launched a marketplace focused on Bitcoin Ordinals.
Here are the Top 10 Bitcoin NFT Ordinals Collections to Watch in 2023.
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