MagicEden CEO Announces Discontinuation of Support for Ethereum and Bitcoin NFT Markets, Shifts Focus to Prediction Markets

Odaily News Solana-based NFT marketplace MagicEden will gradually cease support for Ethereum Virtual Machine (EVM) and 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 crypto wallet services will end on April 1.

Jack Lu mentioned that the company will terminate its NFT buyback program and redirect resources to its prediction market, Dicey. He noted that a significant portion of the platform's costs are concentrated on products that contribute little revenue. Moving forward, the company will retain its more profitable NFT Pack product and focus on developing its crypto entertainment business. (Cointelegraph)