Profiting from the rising demand for bitcoin NFTs, Magic Eden has established its own entirely audited marketplace for bitcoin ordinals.
Magic Eden NFT Marketplace Launches for Bitcoin Ordinals
With the recently developed marketplace that allows bitcoin NFT traders to buy and sell bitcoin ordinal collections, users will have an experience similar to that which Magic Eden offers for NFTs based on Polygon, Ethereum, and Solana. In addition, the platform announced this Bitcoin-related development with a tweet on its Twitter account.
Royalties Not Supported in Novel Marketplace
Even if royalties for the market won’t be supported, the platform has claimed that the company is “actively investigating” this issue. There is also “very limited tooling and no secure and trustless enforcement options,” according to the company.
However, despite this, the platform is said to be actively trying to establish an on-chain, permissionless royalty standard. Thus, the platform will be able to interact with artists and the wider community.
Founding of the Marketplace
In a month, the platform says they were able to establish the marketplace, which resulted in a hackathon in California with more than a dozen coders. The platform claims to have carefully observed the announcement of Ordinal Theory and the swift pace of acceptance that soon followed. With the help of this new functionality, users can create and exchange ordinal inscriptions in a manner similar to how Ethereum NFT markets operate.
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