Magic Eden Releases Bitcoin Marketplace With More Than 70 Collections

Key Points:

• Magic Eden, the 1st audited marketplace, is now available on Bitcoin.
• With the Magic Eden experience on Ordinals, enjoy a fully permissionless, non-custodial marketplace for secondaries that utilizes PSBT technology.
• Magic Eden is actively developing a royalty standard and is committed to working with the community to push the Ordinals ecosystem forward.

Magic Eden, the 1st audited marketplace, is now available on Bitcoin, allowing you to trade your favorite collectibles safely. The platform supports multiple chains and is committed to supporting the strongest communities of creators and collectors.

With the Magic Eden experience on Ordinals, you can enjoy a fully permissionless, non-custodial marketplace for secondaries that utilizes Partially Signed Bitcoin Transactions (PSBT) as the core technology instead of smart contracts.

Ordinal digital artifacts on Bitcoin are on-chain, never off-chain, and are immutable, meaning they cannot be altered. This makes Bitcoin the ultimate home for true digital collectibles.

Bitcoin developers have worked for nearly a decade to bring collectibles to the number one blockchain. Now that they’re here, Magic Eden wants to bring its strengths to this brand-new ecosystem and grow it with pioneers like Roadmoar, PostCapone, and Domo, among others.

PSBT infrastructure is important to enabling permissionless swaps. In order to push the Ordinals ecosystem forward, Magic Eden will be open-sourcing its PSBT signing library to help builders new to the space.

Although there are few tooling and no secure and trustless enforcement solutions for handling royalties in this new ecosystem, Magic Eden has decided to launch on Bitcoin without royalty support. The company believes that this is most in line with the ethos of the ecosystem and is actively looking into the development of an on-chain, permissionless royalty standard and is committed to working with creators and the greater community.

In summary, Magic Eden’s move to Bitcoin offers a new dawn for digital collectibles, with the platform’s commitment to supporting multiple chains and the strongest communities of creators and collectors. The fully permissionless, non-custodial marketplace for secondaries on Ordinals, utilizing PSBT technology, offers a unique trading experience. While launching on Bitcoin without royalty support for now, Magic Eden is actively developing a royalty standard and committed to working with the community to push the Ordinals ecosystem forward.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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