Magic Eden Adds Support for Bitcoin NFTs Franganillo
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March 22, 2023

NFT marketplace Magic Eden is now supporting digital collectibles rolled out on the Bitcoin blockchain network.

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The marketplace wrote in a Twitter thread users can now get access to over 70 collections. However, Magic Eden doesn't offer royalties for Bitcoin-based NFTs, noting there's no standard in the market yet.

"To help push the ordinal ecosystem forward, we also plan to open source key pieces of our marketplace infrastructure in the near future," the marketplace added.

Launched in 2021, Magic Eden raised a total of $170 million from 9 investors, including Alameda Research, Paradigm, Electric Capital and others. In addition to Bitcoin, the marketplace also supports non-fungible tokens on the Solana network and Polygon.

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In February, Magic Eden laid off 15% of its staff, citing new goals set for 2023, which are drawn up after careful analysis of what structures and roles are needed to "transition to the next stage of scaling."

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