Magic Eden, a non-fungible token (NFT) marketplace, has launched its platform on the Bitcoin blockchain, powered by the Ordinals protocol.
The platform is backed by non-custodial wallets Hiro and Xverse and provides payments in the first cryptocurrency.
The project team has noted that they experienced high demand for a solution to create the NFTs, but they have yet to decide on the best approach to this.
To solve the problem of charging royalties, they launched a market with no obligatory royalties to authors. The marketplace, initially based on the Solana blockchain, plans to add support for Ethereum in the future.