ChainCatcher reports that Solana-based NFT marketplace MagicEden will gradually discontinue 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. Jack Lu said the company will terminate 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 contributing minimal revenue; going forward, MagicEden will retain the more profitable NFTPack product and focus on expanding its crypto entertainment offerings.
MagicEden to Discontinue Support for Ethereum and Bitcoin NFT Markets, Shift Focus to Prediction Market
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Summary
MagicEden will cease support for Ethereum and Bitcoin NFT markets, including Runes and Ordinals, as part of a strategic shift. The CEO confirmed the news regarding Ethereum and Bitcoin markets, stating that the EVM and Bitcoin APIs will be shut down by late March and early April. The company will focus on its prediction market, Dicey, and retain the NFTPack product. Resources will be redirected toward crypto entertainment, and the NFT buyback program will be discontinued. Market reports indicate a broader realignment of priorities.
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