On the Future of Ordinals
With Magic Eden shutting down on March 9th, there's been a lot of discussion about marketplaces, their motives, and how they can last.
Here's the truth: businesses need to make money to survive.
We can speculate all we want on why magic eden is sunsetting ordinals, but it's irrelevant. They are leaving, and it's time to move forward.
Ordinals Wallet is about to become the only profitable marketplace.
Here's why this matters: OW has staying power.
All other marketplaces operate their business as a loss leader. Their motivations are not to do what's best for their users but to do what's best for their shareholders and to increase the valuation of their business.
Yes we are biased. Yes these are our competitors. It is also the truth...
As long as a business operates in the red and relies on future valuations and funding rounds to keep going, the risk of them shutting down, pivoting, or sunsetting ordinals is always on the table.
It costs a lot of money to keep an Ordinals business running, to keep updated indexes of all the protocols, collections etc,. and to quickly and efficiently serve up all this data to users.
We are likely the only marketplace that has figured out how to run Ordinals efficiently and in the green. We had to – it was either figure out how to reduce costs or shut down. We figured it out.
Ordinals Wallet still has a lot of work to do to provide the services and level of fidelity that users got familiar with Magic Eden and other marketplaces. We are committed to getting there.
We still believe we have the best wallet management in the game and the simplest user experience.
All this to say using any other marketplace after the sunsetting of magic eden is risking another set up for that marketplace to exit, pivot, or move on.
We have been here since the beginning. We're still here. It's time to come home.