On October 22, 2023, the decision was made by Magic Eden, a multi-chain NFT marketplace, to temporarily prohibit the trading of BRC-20 tokens in order to guarantee the maximum degree of safety possible for its consumers.
This decision will continue to be implemented even after an all-encompassing agreement about the regulations of BRC-20 tokens has been reached. There were no interruptions to any of the other trading activities that were taking place on platform during this time period.
On June 27, 2023, Magic Eden had previously published a statement, announcing that it would support BRC-20 tokens, and the news can be seen here. This represented the company’s continuation of its exploration of the Bitcoin ecosystem. This update was carried out with the purpose of expanding its offerings of Ordinals to encompass the previously described category of tokens, which are developed on top of the Bitcoin network.
In addition to being an…
