According to Blockspace, the NFT marketplace Magic Eden plans to shut down its Bitcoin and EVM markets and discontinue its multi-chain wallet service. Sources familiar with the matter revealed that Magic Eden could announce this decision as early as this Friday, with plans to close its Bitcoin and EVM markets during the first week of March. Following this, its multi-chain wallet will enter export-only mode in mid-March and fully cease operations in early April. Magic Eden will continue to support Solana NFTs and assets, signaling a strategic return to its original Solana ecosystem. Previously, Magic Eden was the dominant marketplace for Bitcoin Ordinals—the Bitcoin-specific NFT standard. Magic Eden’s CEO, Jack Lu, has previously stated that the company is shifting from an NFT marketplace focus toward new areas in "crypto entertainment," such as prediction markets.
Magic Eden to Shut Down Bitcoin and EVM Markets, Discontinue Multichain Wallet Service
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Summary
Magic Eden to Shut Down Bitcoin and EVM Markets and Discontinue Multichain Wallet Service. According to insiders, the NFT trading platform plans to announce the move as early as this Friday, with Bitcoin and EVM markets closing in early March. The multichain wallet will transition to export-only mode in mid-March and fully shut down by early April. Attention may shift to other altcoins as Magic Eden refocuses on Solana, continuing its support for Solana NFTs. The decision follows mixed sentiment in crypto markets, as reflected by the Fear & Greed Index. Magic Eden previously dominated the Bitcoin Ordinals market, but CEO Jack Lu has emphasized a strategic pivot toward crypto entertainment, including prediction markets.
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