Magic Eden, the now-multichain NFT marketplace, launched its Magic Eden Runes platform a day earlier than planned.
Originally set for April 24, the company moved it up to coincide with the launch of the Runes Protocol, a new standard for Bitcoin inscriptions designed to improve efficiency and reduce fees.
Currently in Beta, the Magic Eden Runes platform allows users to swap for Bitcoin and buy runes and ordinals through their Magic Eden wallets. Users can set a specific amount of Bitcoin for transactions involving runes, offering a degree of control over purchases.
Magic Eden Continues Support for Bitcoin NFTs
Zedd Yin, Co-founder and COO at Magic Eden, explained that the platform is focusing on Bitcoin-based NFTs, saying, “As early supporters and first to build an Ordinals marketplace, it was important for us that we build the best Runes experience possible in this important evolutionary step for Bitcoin”
He took to X to praise the team behind the launch of Magic Eden Rune, acknowledging the significant effort it took for bringing their new platform online without delay. Magic Eden has been expanding into Bitcoin NFTs, seeking to capitalize on the growing interest in this segment.
A recent collaboration with the NFT project CyberKongz to launch the BTC pre-runes collection Prometheans resulted in a $4.8 million (80.7454 BTC) total volume, in under 24 hours. This has contributed to Magic Eden’s increased user base and transaction volume, putting it ahead of some major competitors.
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*All investment/financial opinions expressed by NFT Plazas are from the personal research and experience of our site moderators and are intended as educational material only. Individuals are required to fully research any product prior to making any kind of investment.
