The launchpad for Magic Eden will allow creators to be seamlessly introduced to the ecosystem and thus facilitate the easy creation of tokens on the Bitcoin network.
On Thursday, April 6th, Magic Eden, the NFT marketplace, said it will launch a creator launch platform for Ordinals. Thus, it will help creators successfully register Bitcoin-based NFT pools.
Similar to NFTs on Ethereum and other blockchain networks, the Ordinals protocol allows digital assets to be registered on Bitcoin. So far in 2023, The Ordinals platform has taken off in a big way and is about to reach 1 million people.
Magic Eden has announced that it will launch its Bitcoin Launchpad on Friday, April 7th. Although the company has the infrastructure for creators to list and sell their Ordinals, the launchpad is an effort to seamlessly introduce creators into the ecosystem and thus make it easier to create tokens on the Bitcoin network.
Also, minting an Ordinals NFT on the Bitcoin network is much different than minting a digital asset on Ethereum. This is a major barrier to entry, especially for creators who aren’t familiar with the intricacies of sprites and Taproot. Thus, Magic Eden found a way to facilitate this process while simultaneously growing the Ordinals collector market.
Zhuoxun Yin, COO and co-founder of Magic Eden, said that helping creators issue Ordinals would help grow a larger market for Bitcoin tokenized assets. Yin added:
“Bitcoin is the ancestor of all blockchains, and we believe it can be the home of pure digital artifacts. With Ordinals, content can be preserved forever, and we are proud to help content creators and the Ordinals community grow together.”
More plans from Magic Eden
In order to launch the launch pad, Magic Eden will partner with the Ethereum-based Godjira NFT pool and release the Bitcoin-based Deadjira pool later today. Moreover, the company has reached out to some top creators like Lazy Lions, Genopets, Humanoids and Rapper Lil Durk to mint Bitcoin on the new platform over the next week.
Excitement around The Ordinals has been building rapidly with Magic Eden launching the Bitcoin NFT market last month. This also allows collectors to purchase Ordinals on the secondary market. Speaking on development, Magic Eden’s Chief Marketing Officer, Tiffany Huang He said:
“We are at ground level listening to what is required of all of these subsets of the Ordinals community, and will look to meet those needs. We believe there is an urgent need to share our expertise and resources to continue to grow the Ordinals and encourage a thriving ecosystem.”
Apart from the Bitcoin network, Magic Eden is also making efforts to expand its offering to other blockchain platforms.
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Bhushan is a financial technology enthusiast with a good knack for understanding financial markets. His interest in economics and finance has turned his attention towards the new emerging Blockchain technology and Cryptocurrency markets. He is persistent in the learning process and keeps himself motivated by sharing the knowledge gained. In his spare time he reads fantasy and thriller novels and occasionally explores his culinary skills.
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