Magic Eden Launches Bitcoin NFT Marketplace: Buy, Sell, List, Bid!

• Magic Eden is a multi-chain non-fungible token (NFT) marketplace that has launched a fully audited marketplace on the Bitcoin network.
• The launch of Ordinal NFTs has increased user activity on Bitcoin and more than 500,000 inscriptions have been made so far.
• Magic Eden’s new marketplace allows users to list, bid, buy, and sell these inscriptions or NFTs.

Magic Eden Launches Bitcoin NFT Marketplace

Multi-chain non-fungible token (NFT) marketplace Magic Eden has launched a „fully audited“ marketplace on the Bitcoin network as interest in Ordinal NFTs continues to grow. In a press release, Magic Eden said it released the marketplace in honor of Bitcoin’s culture.

What Are Ordinal NFTs?

Ordinals are NFTs inscribed in the witness portion of BTC transactions. The inscriptions can be images or videos, and they leverage the Taproot soft fork. They are also used to number satoshis on the Bitcoin protocol. The launch of Ordinal NFTs increased user activity on Bitcoin, as users with non-zero bitcoin balances found a non-monetary purpose to be on the network. More than 500,000 inscriptions have been made on the Bitcoin protocol, with the average number of Ordinals transactions per block being 250.

Magic Eden’s Marketplace For Ordinal NTFS

Magic Eden’s new marketplace allows users to list, bid, buy, and sell these inscriptions or NTFS. To make this easier, the company has partnered with two wallets: Hiro and Xverse. This means that users can easily access their collectibles without having to go through complicated processes like creating accounts or transferring funds from one wallet to another wallet platform before they can access their assets.

The Benefits Of Using Magic Eden Marketplace

Creating a marketplace for these items on Bitcoin challenges current trends and showcases developers‘ abilities to overcome technical barriers when it comes to blockchain technology applications like those offered by Magic Eden’s platform. With this system in place users will have an easier time buying and selling different forms of digital art pieces or other collectibles that may be stored as an inscription within a transaction witnessed by nodes running full nodes within a blockchain network such as that provided by Bitcoin itself..

Conclusion

In conclusion, Magic Eden’s new platform provides an easy way for people who own small amounts of bitcoin (or any other cryptocurrency) to take advantage of what Blockchain technology offers without needing large amounts of capital upfront or having any knowledge about how distributed ledger technology works under the hood; allowing them instead just simply trade collectibles using their digital tokens which are safely secured within an immutable public ledger maintained by miners all around world working together towards consensus based upon cryptographic proofs such as those used in Satoshi Nakamoto’s original whitepaper introducing his invention now known as Blockchain technology..