Magic Eden is scaling back its multi-chain ambitions and refocusing on its original Solana base. The NFT marketplace has announced that it will discontinue support for Bitcoin (Ordinals and Runes), Ethereum Virtual Machine (EVM) compatible marketplaces, and its multi-chain wallet. Going forward, the company will focus on its core Solana ecosystem while shifting significant resources to Dicey, its on-chain casino and sportsbook product.
Historical context and the evolution of Magic Eden
Magic Eden quickly established itself as a dominant player in the Solana ecosystem due to its low fees, fast transactions and intuitive interface. During the 2023-2024 wave Bitcoin ordinal numbersthe platform aggressively expanded into Bitcoin and EVM chains (including Ethereum, Polygon and Base), which briefly capture substantial trading volume across ecosystems. This multi-chain approach helped popularize Ordinals and broaden its user base.
However, as NFT trading volumes fell sharply from their 2021-2022 highs, supporting multiple chains became increasingly expensive. The company is now scaling back that expansion to streamline operations and refocus on Solana while pursuing new growth opportunities.
Timeline of changes
Magical Eden shared a step-by-step plan for phasing out support:
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March 9, 2026: Closure of the EVM marketplace and Bitcoin (Ordinals and Runes) marketplace.
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March 27, 2026: Discontinuation of the Bitcoin API.
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April 1, 2026: Magic Eden will completely shut down its multi-chain wallet. Starting March 13, the wallet will only allow exports and before then, features like swaps will be disabled.
Trading of Solana NFTs, collectibles and packs (mystery box products) continues as usual.
If you have assets in the Magic Eden wallet, it is important to quickly export your private keys and switch to a compatible wallet such as Phantom for Solana. Magic Eden posted in detail guides in the help center to assist with the move.
Strategic rationale
CEO Jack Lu said the decision was driven by cost inefficiency. In a sequel afterhe stated that the discontinued marketplaces represented “approximately 80% of our costs” while contributing “negligibly” to revenue. With NFT trading volumes significantly lower than previous peaks, he indicated that multiple chains approach was no longer sustainable in the current market climate.
In contrast, Dicey – currently in closed beta – has shown early traction. According to Luapproximately 200 users have wagered more than $15 million in the first two months. He described iGaming, or crypto-enabled online gambling, as a “huge opportunity” as finance and entertainment increasingly converge within the crypto ecosystem.
Dicey: The new growth focus
Dicey is a decentralized casino on the blockchain, with a sportsbook coming soon. It is similar to platforms like Stake. Users can place bets, participate in games and even organize their own events in an open environment. Solana’s fast network ensures quick settlement. Dicey’s early beta saw over $15 million in bets from a small group of users, showing strong demand as blockchain and entertainment converge.
Lu sees Dicey as part of a larger trend where fast games and rapid price changes attract more users. Most of Magic Eden’s resources are now focused on Dicey, with more updates expected soon.
The $ME token will remain central to both the Magic Eden and Dicey ecosystems. While details on integration (such as revenue sharing, staking benefits or other tools) are available, the token is expected to play a key role in user engagement as the product suite evolves.
Broader context and market implications
This change highlights the challenges in the NFT market, where trading volumes are low and costs are high. Many platforms are looking for better ways to make money. By leaving lower-profit NFT trading and switching to higher-profit iGaming, which will keep users coming back more often, Magic Eden hopes for more stable and lasting success. Still, there are risks, such as gambling rules and strong competition.
The community has had mixed reactions. Fans of Solana are happy with the renewed focus on their chain, but people involved with Bitcoin Ordinals and EVM are disappointed, especially since Magic Eden had previously supported these areas.
Recommendations for users
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Bitcoin Ordinals/Runes holders: Migrate to alternatives such as UniSat, Gamma or Satflow.
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EVM NFT Participants: Transition to platforms like OpenSea or Blur.
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Solana ecosystem users: expect seamless continuity in commerce and features.
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$ME token holders: keep an eye out for upcoming Dicey announcements about improved utility.
This restructuring positions Magic Eden to pursue targeted growth in its core Solana space and emerging crypto entertainment verticals. As Lu said, the future of the platform will be “simpler, faster and fueled by our original home on Solana and the success of Dicey.”