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Magic Eden is formally executed with Bitcoin Ordinals and Ethereum NFTs. The platform simply introduced it’s shutting down these markets to shift towards “Dicey,” its new on-line playing platform.
It’s a brutal, sudden shift that leaves multichain customers scrambling whereas the corporate chases on line casino income.
Replace on @MagicEden and @DiceyHQ:
It’s clear we’re getting into a brand new period the place finance and leisure merge. We are actually 2 months into @DiceyHQ’s closed beta and are extremely bullish on how issues have developed (~200 customers, >$15M wagered).
To offer Dicey the main focus it…
— Jack (@0xLeoInRio) February 27, 2026
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Magic Eden Says Bye To Bitcoin And NFTs
Magic Eden CEO Jack Lu confirmed the shutdown in a publish on X, outlining a decent timeline for the wind-down. By March 9, buying and selling for Bitcoin Runes, Ordinals, and BRC-20 tokens, in addition to all Ethereum-compatible (EVM) NFTs, will stop fully.
The modifications don’t cease there. The platform’s Bitcoin API shuts down on March 27, and the precise pockets performance will go into an “export-only” mode by early April. This successfully forces customers emigrate their digital belongings to different suppliers instantly to keep away from dropping entry.
Lu said the corporate is “doubling down” on Dicey, their crypto betting website, citing a “huge alternative” in on-line playing.
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Why Now? Chasing Earnings in The Playing Sector
This can be a important retreat for a platform that spent arguably an excessive amount of power attempting to be every thing to everybody. Magic Eden was the undisputed king of Solana NFTs, however its growth into Ethereum and Bitcoin Ordinals felt pressured and resource-heavy.
The pivot reveals the tough actuality of the present market: buying and selling volumes for NFTs have collapsed, whereas playing income stays recession-proof. It mirrors broader tendencies the place platforms are transferring away from pure collectibles towards high-frequency monetary merchandise. We’ve seen comparable shifts in tokenized securities and monetary belongings, the place utility creates regular income that JPEGs merely can not match proper now.
For the business, it alerts that the “multichain” dream is dear and infrequently unprofitable. Magic Eden is reducing its losses to guard its backside line, even when it burns some goodwill with the Bitcoin group within the course of.
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Magic Eden Bets on Dicey Beta: Over $15 Million Wagered By 200 Customers
Why playing? It’s basic math. In simply two months of closed beta, Dicey noticed $15 million wagered by solely 200 customers. Examine that to the shrinking charges from NFT trades, and the enterprise logic turns into plain.
Lu described this as getting into a brand new period the place “finance and leisure merge,” a well mannered manner of claiming casinos make more cash than digital artwork. The platform plans to launch a sportsbook quickly, competing immediately with giants like Stake.
Whereas this is smart for his or her steadiness sheet, it leaves a niche available in the market. Bitcoin Ordinals infrastructure is already technically advanced, dealing with challenges starting from community congestion to theoretical threats from superior computing. Shedding a serious market like Magic Eden makes the consumer expertise for Bitcoin artists considerably more durable.
In case you maintain Bitcoin Ordinals, Runes, or Ethereum NFTs on Magic Eden, it is advisable transfer them now. Don’t anticipate the deadline.
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Key Takeaways
Magic Eden will shut down its EVM and Bitcoin NFT marketplaces on March 9.
Customers MUST withdraw belongings to exterior wallets earlier than the April 1 pockets deadline or threat dropping entry.
The corporate is redirecting sources to “Dicey,” its new crypto playing platform, after seeing excessive consumer engagement.
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