Magic Eden Launches Bitcoin Runes Platform

22 April 2024

in Meta News

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Magic Eden, a leading NFT marketplace, has unveiled its latest innovation: the Bitcoin Runes Platform. This new platform allows users to engage with Bitcoin Runes, marking a significant evolution in digital assets.

Bitcoin Runes, an advancement from Bitcoin Ordinals, presents a novel approach to token creation on the Bitcoin network. These Runes facilitate more efficient and secure transactions, leveraging Bitcoin’s security model for enhanced safety features and reduced vulnerabilities.

Currently in beta, Magic Eden’s Runes Platform enables users to seamlessly swap for BTC and purchase Runes and Ordinals using their Magic Eden wallet. The platform also features a Swaps View, allowing users to specify the desired BTC amount when acquiring Runes, streamlining the transaction process.

Driving Innovation in the Crypto Landscape

The prompt completion of the Magic Eden Runes Platform points to the company’s desire to support innovation in crypto. Zedd Yin, the co-founder and COO of Magic Eden, highlighted the need to create the best possible user experience, thus positioning Magic Eden as the place to go for Bitcoin.

Further, Magic Eden’s backing of Bitcoin Ordinals from March 2023 proves the platform’s commitment to promoting the functionality and convenience of digital assets. Equipped with a strong wallet compatible with Ethereum, Polygon, Bitcoin, and Solana, Magic Eden continues to grow and dominate the NFT industry.

What adds to the success of Magic Eden is its substantial daily volume of Bitcoin Ordinals, which amounts to $23.42 million in NFT marketplaces as per The Block’s Data Dashboard. This success cements Magic Eden’s place in the emerging world of digital collectibles and tokenized assets.