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Magic Eden, Solana's Largest NFT Marketplace, Adds Bitcoin Ordinals Support for On-Chain Media Storage

The largest Solana-based NFT marketplace, Magic Eden, has announced support for Bitcoin Ordinals, a protocol that enables the on-chain storage of media on the Bitcoin blockchain without the use of smart contracts.

Magic Eden, which was valued at $1.6bn as of June 2022, has expanded to Ethereum and Polygon over the past year. The non-custodial marketplace claims to be the first fully audited Ordinals marketplace, and never takes control of assets being traded.

Although minting, handling, and trading Ordinals is a more complicated process than on other chains, Magic Eden promised that the user experience for its Ordinals marketplace will be similar to what users are used to experiencing on its platform. Magic Eden plans to offer future tools for minting, or inscribing, digital assets onto the Bitcoin blockchain.

At present, the Ordinals marketplace is focused on secondary market sales. It is still unclear whether Magic Eden will launch a minting launchpad for Ordinals or auctions.

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