The famous Solana NFT marketplace, once focused on Bitcoin and other chains, is quietly starting to shrink its footprint.
The change is reportedly swift and clear, with some services shutting down in March and April as the company focuses on where the money is likely to be.
Magic Eden retreats to Solana
The change is not small. Support for EVM and Bitcoin Ordinals and Runes will end on March 9th, the Bitcoin API will be shut down on March 27th, and the platform’s self-custody wallet will be completely offline on April 1st.
The marketplace will maintain Solana support and some Pack products, but many cross-chain tools will disappear, according to the report. Users are instructed to move assets or export keys before the deadline to avoid losing access.
why this happened
Costs and revenues drove this move. Most of the engineering and infrastructure costs were tied to products that brought in only a small portion of revenue, according to company executives’ posts.
Update date @MagicEden and @DiceyHQ:
It is clear that we are entering a new era of convergence between finance and entertainment. It’s been 2 months now @DiceyHQis in a closed beta and is incredibly bullish about how things will play out (about 200 users and over $15 million in stakes).
To focus on Dicey…
— Jack (@0xLeoInRio) February 27, 2026
Simply put, you can do more work with less money. This calculation has forced us to rethink where we spend our limited resources. Part of the business is an on-chain casino called Dicey, which ran a closed beta earlier this year and attracted a large amount of wagers.
What the beta showed us
About 200 users participated in Dicey’s trial phase, betting about $15 million over a two-month period. The numbers convinced management that the product had the potential to generate greater profits than the quiet NFT market the company had supported, according to the report.
The casino plans to add a sportsbook and other betting features, and the company claims that betting could be a more stable source of fees than a small list of NFTs.
Market impact and reaction
The broader NFT market has been depressed in recent months, and the closure is one of several signs that platforms are cutting back on their offerings. Some collectors and builders will be frustrated because the tools and markets they used will be removed.
Other companies will see this move as pragmatic, choosing fewer products rather than choosing products they don’t understand well. Management posted details on social channels, which quickly garnered coverage from industry press.
A word from the CEO
Jack Lu writes that the company is refocusing its original Solana efforts and products with a clearer path to revenue.
He described the results of the closed beta as “encouraging” and said the company would suspend its NFT buyback program to free up resources for betting products.
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