The ordinals protocol has gained popularity in the crypto space, with some seeing it as a way to create new protocols and BRC-20 tokens on the Bitcoin blockchain.
Ordinals are also known as BTC NFTs and are considered digital artifacts. Once you mint your digital artifact, you can keep it in your wallet or sell it on a marketplace, similar to NFTs. You can learn more about their rarity in our ordinals beginners guide.
If you're ready to get involved, we've compiled a top seven list of the best marketplaces to view, transfer, buy, and sell your ordinals.
How do ordinals marketplaces work?
Ordinals marketplaces are platforms where users can buy, sell, and trade Bitcoin-based NFTs, known as ordinals. These digital artifacts leverage the Bitcoin blockchain's security and uniqueness, offering a distinct space for creators and collectors. Here's how they operate:
Listing and minting: Creators make ordinals by inscribing digital content directly onto individual satoshis, the smallest units of Bitcoin. These are listed on marketplaces with details like price, description, and unique features.
Buying ordinals: Buyers explore the marketplace for ordinals that catch their interest. Transactions are secure as they use Bitcoin for purchases, making sure of a transparent and immutable record of ownership.
Selling and trading: On the marketplace, sellers can display their items for sale and choose fixed prices or auctions. Users can also arrange a trade with each other, providing options for obtaining or swapping digital assets.
Wallets and transactions: To interact with these marketplaces, users need a Bitcoin wallet compatible with ordinals. This guarantees secure asset management and smooth transaction execution.
Top 7 ordinals marketplaces
Ordinals Market
Ordinals Market lets you trade Bitcoin inscriptions on Ethereum. To make trading more accessible, they created 'vaults' where you can store your Bitcoin inscriptions. Vaults are like little treasure chests that live on the Ethereum blockchain, and they contain the private keys to your Bitcoin inscription. You can open the vault to claim your Bitcoin inscription on the Bitcoin network, but if you do, the vault token will no longer be tradeable on Ethereum. Alternatively, you can keep your inscription in the vault on Ethereum for easier trading and transfers.
Ordswap
Ordswap is a marketplace with multiple features in easy reach. Users can buy and sell ordinals NFTs on the marketplace, but also access an inscription platform to create their own ordinals NFTs easily and at an affordable cost. What's more, users can browse and filter specific collections of ordinals before jumping into a trade. Finally, an 'activity' tab on the website shows the most recent trades happening on Ordswap. To use Ordswap, users need a compatible wallet such as the Ordswap Wallet or MetaMask.
Magic Eden
Magic Eden launched its new creator launchpad for Bitcoin ordinals on April 7, 2023. The platform allows artists to inscribe their artwork on the Bitcoin blockchain, making it easier for creators to sell their collections. Magic Eden will also support creators with the inscription process. However, the platform currently doesn't support royalties for creators due to the lack of secure and trustless royalty enforcement tools in the ordinals ecosystem.
Gamma
The Gamma platform has three main features: a marketplace where you can find and collect ordinals, a launchpad that helps artists create ordinals without coding, and a social platform where creators and collectors can interact. Whether you're new to digital artifacts or an experienced collector, Gamma is a user-friendly and engaging platform that can help you explore and participate with others interested in ordinals.
UniSat
UniSat is a decentralized application that allows users to easily create, trade, and monitor Bitcoin ordinals. The platform is noteworthy for its ability to automatically integrate data from dedicated GitHub repositories, supporting over 1,500 existing ordinals collections. UniSat aims to make it easy to explore trending ordinals, so you can quickly find an asset you want to buy.
Ordzaar
Ordzaar provides creators with a platform to launch their Bitcoin ordinals projects entirely on-chain, with no platform fees. This creator-friendly marketplace has also introduced a new feature to support artist royalties. As of April 2024, more than 900 collections and more than 2.6 million assets were available to explore and trade.
OKX NFT Marketplace
OKX provides you with a seamless journey into the world of Bitcoin ordinals using our trusted OKX Web3 Wallet. The wallet's browser extension already supports BTC taproot addresses, with mobile support currently in development. Unlike other wallets, our OKX Wallet is designed to be interoperable and incredibly user-friendly. With our latest upgrade, you can import all your Bitcoin addresses and view your inscriptions on a single interface. No more juggling multiple wallets!
The final word
The ordinals protocol injects new life into the Bitcoin blockchain by enabling the production of NFT-style digital items, called ordinals, or Bitcoin NFTs.
This advancement allows a fresh set of applications and BRC-20 tokens to be seamlessly incorporated into Bitcoin, providing creators and collectors with a unique platform to generate, hold, and exchange these one-of-a-kind assets.
Various marketplaces have emerged as hubs for these activities. Each platform offers something unique, ranging from enabling trades across different blockchains to supporting on-chain launches without fees. These platforms demonstrate the expanding ecosystem surrounding Bitcoin ordinals and the myriad possibilities for digital ownership and innovation on the blockchain.
Will the inclusion of ordinals and BRC-20 tokens expand Bitcoin's functionality beyond its current focus on finances? And, how might this impact the development of blockchain technology?
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