The non-fungible token marketplace Magic Eden has made preparations to introduce the Bitcoin launchpad this week. The launchpad for the new NFT technology surfaced when the number of Bitcoin Ordinals increased to above 1 million.
Launch of the Bitcoin NFT Launchpad by Magic Eden
The Magic Eden NFT marketplace announced intentions to deploy its Bitcoin NFT launchpad in a blog post on April 7. A sales platform for artists who have added their works of art or media to the Bitcoin blockchain is the new launchpad.
On April 7, Magic Eden will release its Bitcoin-based (Dead) Jira collection as part of a launchpad partnership with the Ethereum-based NFT collection Godjira. The Humanoids, a project by well-known rapper Lil Durk, Genopets, an existing NFT project, as well as Lazy Lions and other NFTs have also made plans to introduce new Bitcoin NFTs. Genopets is a gaming project located in Solana.
Ordinals NFTs that have been scribed to the network can be sold by authors using the new Bitcoin NFT launchpad. During a discussion regarding the new launchpad, a representative from Magic Eden suggested that creators utilize an allowlist to permit some wallet addresses to mint Ordinals before to the launch, enabling users to do so in a way that is not dependent on the creator.
Bitcoin Inscription Close to 1 Million Mark
Similar to digital assets on Ethereum, Solana, and other blockchain networks, the Ordinals protocol allows for the inscription of non-fungible tokens on Bitcoin. In recent weeks, this protocol has gained popularity among developers, with the number of ordinal inscriptions approaching 900,000. Tiffany Huang, the marketing director of Magic Eden, said the following with reference to the Bitcoin NFTs:
“A lot of creators understand the value it offers, how it differentiates from other blockchains, and how having presence on Bitcoin can be complimentary to a collection or brand. But, inscribing and selling Ordinals can also be quite loaded with friction to get started.”
Magic Eden is hoping that more producers would embrace the expanding Ordinals field in the meantime thanks to the new Bitcoin launchpad. The Twelvefold generative art project, just released by Yuga Labs, DeLabs with BTC DeGods, and photographer Justin Aversano are just a few notable producers who have already utilized the Ordinal protocol.
