Magisat Launchpad: Digital Artifacts take a leap forward
What is Magisat Launchpad?
For too long, artists made compromises on their digital artifacts. At Magisat, we believe that besides great art, a true digital artifact employs great provenance. Rare sats are the best way to imbue your artifacts with additional value and bestow your pieces with real provenance.
But there’s an issue. Rare sats are not always easy to obtain or cheap. Most artists love the idea of putting a few thousand-piece collection on uncommon sats, but the costs are prohibitive. That’s where Magisat Launchpad steps in.
In very simple terms: on Magisat, we only require artists to bring the art, nothing else. Each minter is able to provide the rare sats on which the collection will mint, and inscribe the Ordinal themselves. These unique mechanics offer both sides great advantages:
- Minters get far superior pieces, leveraging the great historical and numismatic value of rare sats
- Minters decide how rare and unique their artifact can be, by deciding which rare sat to use
- Artists don’t have to put up with huge upfront costs for acquiring the rare sats selection
Great art deserves a great canvas! As simple as that.
How to mint?
Step 1: Pick the project you love and click mint now straight from magisat.io‘s landing page
Step 2: You will be taken to the project’s launchpad page. Check your eligibility here. The launchpad has the same good ol’ mechanics: whitelist phases (guaranteed or FCFS), and the public phase. Once the phase starts, if you’re whitelisted, hit the mint button.
Step 3: Choose the sat you want to use. The project’s team decides which categories are available to choose from. Common sats are also on the table if the team allows it, and you don’t want to go the extra step to make your artifact’s canvas unique. Choose wisely!
Step 4 (optional): If you don’t have the selected sat, you can navigate to the “Market Buy” tab and snag one (or more) from our marketplace. Don’t worry, you won’t have to wait for the confirmation. You can buy it and it will directly show in the “Owned sats” tab so you can continue the process.
Step 5: Overview. After you select your sat, you can see the total cost of inscribing the Ordinal. This is dependent on the network fee you choose. A breakdown of all the costs is available on this page.
Step 6: Confirm and sign, then wait for the tx to confirm. We’ll let you know once it’s done! While you’re waiting you can mint another item if you’re eligible.
Important caveats
- When you buy a rare sat within the launchpad, it will show up in your “owned tab”. Please note: in the owned tab, a yellow border means the item buy is pending, and the green one means you already own it. You can still mint immediately; however, if the rare sat purchase is pending, your buy transaction can still be replaced if a sniper pays a higher absolute fee (unlikely, since the fee has to be higher than both the buy and the mint transaction fees). In this case, both the buy and the mint transactions will drop, and you WILL NOT BE CHARGED for the mint.
- If you already own the rare sat (green border), your mint transaction will be reserved in our system and cannot be RBFd. Even if the transaction confirms at a later time, your item will be valid. This is our way of avoiding gas wars! Regular transaction fees suffice!
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