Magic Eden Announces BRC-20 Integration

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NFT Now

27 Jun 2023 7:00 PM

Starting at 8:00 pm ET, users can collect BRC-20 projects while creators can launch BRC-20 drops directly on the platform....

  • Magic Eden will incorporate BRC-20 token functionality on its open-source secondary marketplace and creator launchpad.
  • The update will allow users to collect BRC-20 projects directly and creators to release their own BRC-20 drops for minting directly on the platform itself.
  • BRC-20 tokens enable the minting and transferring of fungible tokens with the Ordinals protocol on the Bitcoin blockchain, similar to ERC-20 tokens on the Ethereum blockchain.
  • Magic Eden's incorporation of BRC-20 could significantly expand the token's reach and accessibility.
  • Bitcoin Ordinals has continued to grow exponentially, resulting in over 13 million Ordinals Inscriptions being minted on the blockchain and projects from a range of blockchain ecosystems creating Ordinals collections.

The article has a positive sentiment as it discusses the expansion of Magic Eden's platform and the potential benefits of incorporating BRC-20 tokens.

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You May Ask

What is Magic Eden and what update will it be implementing?What are BRC-20 tokens and how are they similar to ERC-20 tokens?How could Magic Eden's incorporation of BRC-20 tokens expand their reach and accessibility?What is Bitcoin Ordinals and how has it grown since its debut?What is the significance of Magic Eden's incorporation of BRC-20 tokens for the Bitcoin ecosystem?

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