Magic Eden, the renowned Solana NFT marketplace, has expanded its offering to become a leading multi-chain platform. The platform has integrated BTC NFTs through a dedicated site and social channels, thus extending its support for digital collectibles to four different chains, including Solana, Ethereum, Polygon, and Bitcoin.
Welcome to a new dawn. Magic Eden is now on Bitcoin.
Now, you can safely trade your favorite collectibles on the 1st audited marketplace with $BTC 🤝
Explore 70+ collections on our marketplace: https://t.co/WiYYgIWPG5
— Magic Eden 🪄 (@MagicEden) March 21, 2023
The move comes amid growing interest and support for Ordinals NFTs, inspiring the launch of various new collections, including the inscription of iconic ETH-based collections and limited edition art offerings from groups like Yuga Labs. At present, the Magic Eden site hosts over 70 supported collections, including top or trending collections like BTC DeGods, Bitcoin Frogs, and Ordinal Apes.
Magic Eden’s interest in exploring emerging markets and advancing the Ordinals ecosystem with its marketplace expertise is evident in its latest initiative. With the new marketplace, users can buy, sell, list, and bid on collectibles, utilizing partner wallets like Hiro, Xverse, and UniSat through the platform’s intuitive interface. This development is a significant step forward in infrastructure for Ordinals collectors, as it eliminates the need for over-the-counter trades and recording sales on spreadsheets.
While the BTC NFT ecosystem is progressing, one area that requires development is royalty support and enforcement. Magic Eden has committed to finding solutions to this problem by actively seeking ways to develop on-chain, permissionless royalty standards in collaboration with creators and the broader community. The platform aims to open source key pieces of its marketplace infrastructure in the future to accelerate the growth of the overall ecosystem.
In conclusion, while the platform is not perfect, it represents a significant step in the right direction for the development of the BTC NFT ecosystem.