Key Takeaways:

• Magic Eden is shutting down its Bitcoin and Ethereum NFT marketplaces in March 2026 to focus on Solana and its crypto casino, Dicey.
• The company says Bitcoin and EVM products made up 80% of its costs but only 20% of its revenue.
• Dicey’s early test phase has seen about 200 users wager over $15 million in just two months.

Magic Eden, a leading platform where people buy and sell NFTs (non-fungible tokens, or unique digital collectibles stored on a blockchain), is ending support for its Bitcoin and Ethereum Virtual Machine-based NFT trading marketplaces. Ethereum Virtual Machine (EVM) is the software that allows applications and tokens to run on Ethereum and similar networks. 

The company will now concentrate only on its Solana-based products and its crypto casino platform called Dicey. Jack Lu, CEO and co-founder of Magic Eden, shared the updates in an X post on 27 February, 2026.

Key shutdown dates announced

Magic Eden confirmed multiple closure dates.

• The EVM NFT marketplace, which covers Ethereum and EVM-compatible networks such as Polygon and Base, will stop operations on 9 March 2026. The Bitcoin marketplace for Runes and Ordinals will also close on the same date. Runes and Ordinals are systems that allow people to create NFTs and tokens on the Bitcoin blockchain. 
• Magic Eden’s Bitcoin API, a tool that lets developers connect to Bitcoin data, will shut down on 27 March, 2026. 
• The multi-chain Magic Eden Wallet, which allows users to store NFTs across different blockchains, will stop working on 1 April 2026. 

Users must withdraw assets before these deadlines to avoid issues.

The platform will also end its NFT buyback program. This program involved purchasing selected NFTs from users, but according to the company, had little overall impact. 

Starting 9 March 2026, the marketplace will support only Solana and NFT Packs. NFT Packs are bundles that contain random NFTs from various collections. 

Emphasis on Dicey for crypto gambling

Magic Eden is shifting the majority of its resources to Dicey, its crypto-based online casino and sports-betting platform. In his post, Lu said Dicey’s closed beta has been running for two months, with roughly 200 users placing more than $15 million in wagers during that period. He described the early performance as “incredibly bullish,” meaning the team is highly optimistic about the results.

Lu stated that finance and entertainment are increasingly blending together and described online gambling, also known as iGaming, as a large market opportunity. Dicey plans to expand its offerings to include more casino-style games and a sportsbook.

That said, please remember that online gambling laws vary widely by country and even by state or region. So users must check their local regulations and ensure they are legally allowed to participate before getting involved.

Magic Eden originally launched on the Solana blockchain in September 2021. Solana is known for fast transaction speeds and lower fees compared to other blockchain networks. The company later expanded to Ethereum in 2022 and to Bitcoin in 2023 during a period when NFT activity surged across multiple networks.

The company now intends to continue supporting assets on Solana while simplifying everything else. 

The 80/20 rule prompted changes

According to Lu, Magic Eden applied the 80/20 rule – a common business principle suggesting that a small portion of activities often account for most costs or results – to its business. It found that 80% of its costs were linked to EVM and Bitcoin products that generated only 20% of its revenue. 

He noted that activity in those markets has declined significantly. By shutting them down, the company plans to reallocate its staff and financial resources to higher-growth areas such as Dicey.

The $ME token, Magic Eden’s own cryptocurrency used for rewards and engagement, will stay central across both its main NFT marketplace and Dicey. Details on its exact role in Dicey will come later as plans develop. 

Lu added that the decision represents a return to the company’s Solana roots while focusing on what it considers its strongest and most profitable areas. Users affected by the closures should check the platform for exact steps to move assets safely before the recommended deadlines. The decision comes as the total NFT market value has fallen sharply, dropping from more than $17 billion in early 2022 to about $1.5 billion in March 2026.