Blogs & Articles: Magic Eden Announces Ordinals Launchpad For Bitcoin Inscription Collections 🔗 1 year ago

The new Launchpad will provide those looking to inscribe directly onto Bitcoin an easy way to build their collection.

Magic Eden, an NFT platform, has announced the opening of a Launchpad to inscribe collections using the Ordinals protocol on Bitcoin. 

This comes shortly after the platform's launch of an Ordinals marketplace, which has helped Magic Eden become the “top marketplace for trading Bitcoin inscriptions,” according to the press release.

The press release describes the company’s goal of offering a safe and secure platform for creators to launch their collections, with the first collection launch scheduled for April 7, 2023. According to the release, the platform has already served over 500 creators and raised over $150 million on their behalf.

Zhuoxun Yin, COO, and co-founder of Magic Eden commented on the announcement, "We're excited to expand our creator capabilities to Bitcoin and offer easy ways for creators to get started and launch... With Ordinals, content can be preserved forever, and we're proud to be helping creators and the Ordinals community grow together."

Magic Eden's move to provide creators with a Launchpad for Bitcoin inscriptions comes at a time when Bitcoin inscriptions have seen a significant uptick in popularity throughout Q1 2023, as the press release describes.

The Ordinals protocol allows users to insert arbitrary data onto specific UTXOs, effectively enabling immutable NFTs built directly into the Bitcoin blockchain. Since the launch of the protocol, its impacts have been debated. That being said, almost 1,000,000 pieces of data have been inscribed onto the blockchain already as of the time of writing, and there are no signs of that stopping.