Magic Eden launches Bitcoin marketplace amid growing demand

According to a statement released on Tuesday, Magic Eden, a major cross-chain NFT platform, has unveiled a Bitcoin marketplace for digital artifacts.

According to Zhuoxun Yin, the COO and co-founder of Magic Eden, the addition of Bitcoin to the platform's marketplace will allow them to connect with a vast community and grow the multichain vision. The inclusion of Ordinals, an NFT-like project on Bitcoin's blockchain, has led to a significant increase in inscriptions, with over 400,000 inscriptions on the Bitcoin blockchain by mid-March, up 344% from the previous month. Prior to the announcement, Magic Eden supported NFT trading on Solana and Polygon and provided aggregated listings for Ethereum-based NFTs.

The launch of Magic Eden's Bitcoin Marketplace could be a significant step forward for the blockchain's trading market, which has been inaccessible and unsafe for non-professional users due to limited tools and products. The launch will also integrate two noncustodial crypto wallets, Hiro and Xverse, so users can process transactions.

As the NFT market continues to grow, Magic Eden believes that NFTs will be the center of culture for many years. In the initial beta launch of the Bitcoin Marketplace, Magic Eden has partnered with 13 collections, including Taproot Wizards, Inscribed Pepes, and Bitcoin Bandits, which were some of the earliest to be inscribed and have the strongest communities. In the future, all Bitcoin inscriptions will be available for trading on Magic Eden, and the platform plans to continue building out new use cases on new chains.