Magic Eden Rolls Out Bitcoin Ordinals NFT Creator Launchpad
Non-fungible token (NFT) marketplace Magic Eden said Thursday it is rolling out a creator launch platform for Ordinals, which helps creators enter their Bitcoin-based NFT collections.
While the company already has the infrastructure for creators to list and sell Ordinals, the launchpad will help onboard creators to the ecosystem to easily facilitate the creation of tokens on the Bitcoin network. The process of inscribing an Ordinal NFT is far different from minting a digital asset on Ethereum, which presents a barrier to entry for many creators unfamiliar with the intricacies of Taproot and inscriptions. This led Magic Eden to find a way to help ease the process for the growing market of Ordinals collectors.
Zhuoxun Yin, CEO and co-founder of Magic Eden, said in a press release that helping creators create Ordinals will help grow a larger market for tokenized assets on Bitcoin.
“Bitcoin is the granddaddy of all blockchains, and we believe it could be the home of pure digital artifacts,” Yin said. “With Ordinals, content can be preserved forever, and we’re proud to help creators and the Ordinals community grow together.”
To kick off the launch pad, Magic Eden is teaming up with Ethereum-based NFT collection Godjira to release its Bitcoin-based (Dead)Jira collection on April 7th. The company has also used creators Genopets, Lazy Lions, Humanoids and the rapper. Lil Durk to mint Bitcoin inscriptions on the new platform within the next week.
Excitement around Ordinals has been growing since January and Magic Eden has been ready to embrace the growing market for inscriptions. Last month, Magic Eden released a Bitcoin NFT marketplace, allowing collectors to purchase Ordinals on the secondary market, integrating support for two Bitcoin wallets to do so.
“We are on the ground level listening to what is needed from all these subsets of the Ordinals community and we will look to fulfill those needs,” said Magic Eden Chief Marketing Officer Tiffany Huang. “We believe the involvement of our expertise and resources is much needed to continue the growth of Ordinals and encourage a thriving ecosystem.”
Outside of the Bitcoin network, Magic Eden has made efforts to expand its offerings beyond Solana, the layer 1 blockchain that put the marketplace on the map. Days after launching the Bitcoin NFT marketplace, Magic Eden established a Web3 gaming collective, bringing together leading blockchain-based gaming funds and publishers to help drive adoption in the space. Earlier in March, it launched “Mint Madness,” allowing users to make free NFTs for over a dozen Web3 games.
UPDATE (April 6 17:03 UTC): Added quotes from Magic Eden.
