Magic Eden Rolls Out Bitcoin Ordinals NFT Creator Launchpad

After releasing a Bitcoin NFT marketplace in March, the company is expanding its resources for creators to securely mint their inscriptions before selling to collectors.

AccessTimeIconApr 6, 2023 at 4:00 p.m. UTC
Updated Apr 6, 2023 at 5:04 p.m. UTC

Non-fungible token (NFT) marketplace Magic Eden said Thursday it’s rolling out a creator launchpad for Ordinals, helping creators successfully inscribe 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 poses a barrier to entry for many creators who aren’t familiar 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, chief operating officer and co-founder of Magic Eden, said in a press release that helping creators to mint Ordinals will help grow a larger market for tokenized assets on Bitcoin.

“Bitcoin is the grandfather of all blockchains, and we believe it can be the home to pure digital artifacts,” said Yin. “With Ordinals, content can be preserved forever, and we're proud to be helping creators and the Ordinals community grow together."

To kick off its launchpad, Magic Eden is teaming with Ethereum-based NFT collection Godjira to release its Bitcoin-based (Dead)Jira collection on April 7. The company has also tapped creators Genopets, Lazy Lions, Humanoids and rapper Lil Durk to mint Bitcoin inscriptions on the new platform within the next week.

The excitement around Ordinals has grown 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 in doing so.

"We're on the ground level listening to what is needed from all of these subgroups of the Ordinals community, and we will look to deliver on those needs," said Head of Marketing at Magic Eden, Tiffany Huang. "We think involvement of our expertise and resources is much needed to continue the growth of Ordinals and encourage a flourishing ecosystem."

Outside of the Bitcoin network, Magic Eden has made an effort to expand its offerings outside of Solana, the layer 1 blockchain that put the marketplace on the map. Days after rolling out its Bitcoin NFT marketplace, Magic Eden established a Web3 gaming collective, bringing together leading blockchain-based game funds and publishers to help foster adoption in the space. Earlier in March, it kicked off "Mint Madness," allowing users to mint free NFTs for over a dozen Web3 games.

Edited by Toby Leah Bochan.

UPDATE (April 6 17:03 UTC): Added quotes from Magic Eden.


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Cam Thompson

Cam Thompson was a news reporter at CoinDesk.

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