MagicEden CEO Announces Shift from Ethereum and Bitcoin NFT Markets to Prediction Market

KuCoinFlash

Release Time: 03/02/2026 04:31:17

Summary

MagicEden CEO JackLu announced that the platform will cease support for Ethereum and Bitcoin NFT markets. The Ethereum Virtual Machine and Bitcoin Runes/Ordinals will be shut down on March 9 and March 27, respectively. The crypto wallet service will end on April 1. Resources will be redirected to the prediction market Dicey. The NFT buyback program is also being discontinued. NFT news highlights this shift as MagicEden focuses on higher-revenue products such as NFTPack and crypto entertainment. Bitcoin market news indicates the platform is moving away from lower-profit segments.

Odaily Planet Daily reports: Solana ecosystem NFT marketplace MagicEden will gradually cease support for the Ethereum Virtual Machine, as well as Bitcoin Runes and Ordinals markets. CEO and co-founder Jack Lu stated that the relevant markets will cease operations starting March 9, the Bitcoin API will be shut down on March 27, and cryptocurrency wallet services will end on April 1.

JackLu stated that the company will discontinue its NFT buyback program and redirect resources toward its prediction market, Dicey. He noted that most of the platform’s costs are concentrated on products generating minimal revenue, and in the future, it will retain the more profitable NFTPack product while focusing on the development of crypto entertainment services. (Cointelegraph)

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