Key Takeaways
- Magic Eden is winding down its NFT marketplaces on Ethereum and Bitcoin, ending services by March 9, 2026.
- Users must withdraw their assets before deadlines, including the Bitcoin API and crypto wallet services shutting down.
- The company shifts focus towards NFT packs and its crypto-enabled iGaming platform, Dicey.
- Magic Eden originally started in 2021 as a Solana-based marketplace before expanding to Ethereum and Bitcoin.
- The decision stems from lower revenue compared to costs in certain NFT operations, prompting resource reallocation.
Magic Eden winds down NFT marketplaces on Ethereum and Bitcoin as part of a strategic shift. The company confirmed it will discontinue support for its Ethereum (EVM) marketplace and Bitcoin-based platforms, including Ordinals and Runes. Services for these marketplaces will end on March 9, 2026.
The Bitcoin API will shut down on March 27, 2026. The company’s crypto wallet services will be discontinued on April 1, 2026. Users are required to withdraw or transfer their assets before the stated deadlines.
Closure Timeline and Affected Services
The wind-down includes the termination of multi-chain NFT support on EVM networks. Magic Eden will also end its NFT buyback program, which previously supported secondary market liquidity. After the closure dates, access to these services will no longer be available.
The company stated that certain segments of its NFT operations generated lower revenue compared to associated costs. The decision allows the platform to reallocate resources.
Shift Toward NFT Packs and Gaming Platform
Following the move, Magic Eden plans to concentrate on NFT packs. These products contain randomized digital collectibles from different collections. The format is similar to physical trading card packs.
The company is also prioritizing its crypto-enabled iGaming platform, Dicey. During a two-month closed beta phase, around 200 users placed wagers totaling more than $15 million. A sportsbook feature is expected to be introduced.
Company Background
Magic Eden was founded in 2021. It first gained recognition as a Solana-based NFT marketplace. The platform later expanded to support Ethereum and Bitcoin NFTs before deciding to scale back those operations.
The decision comes amid lower NFT trading volumes compared to previous market peaks.
