Magic Eden’s Rune Platform Goes Live

TL;DR

• Magic Eden has launched a Bitcoin Runes platform.

• The platform enables users to swap for BTC and buy Runes and Ordinals using their Magic Eden wallets.

Magic Eden Now has a Rune Platform

Magic Eden’s Bitcoin Runes platform is now officially live as the project takes advantage of a new trend in the crypto ecosystem. 

The Runes platform is currently in beta testing mode and allows users to swap for BTC and buy Runes and Ordinals with their Magic Eden wallet. It also has a Swaps View, allowing users to set a certain BTC amount they wish to spend when buying Runes.

While commenting on this latest development, Magic Eden co-founder and COO Zedd Yin, said,

"As early supporters and the 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. We’re proud to be a growth driver in the industry and further cement why Magic Eden is the one-stop-shop for all things Bitcoin."

Bitcoin Runes are considered an evolution of Ordinals, which are like NFTs for the Bitcoin network. Runes have a more effective way to create fungible tokens on the network.

Magic Eden further stated that 

"Runes could offer a more secure and reliable platform for token creation and transactions. By using the UTXO for on-chain data storage, it inherits the security model of Bitcoin for stronger safety features and a reduced risk of security holes, aka vulnerabilities."

Magic Eden has been a proponent of Bitcoin Ordinals, allowing users to purchase the assets via its Bitcoin NFT marketplace. Its wallet currently supports Ethereum, Polygon, Solana, and Bitcoin.