The well-known Solana NFT marketplace, which once invested heavily in Bitcoin and other chains, has quietly begun scaling back its size.
According to the report, the changes will be rapid and clear. Several services will stop working in March and April as the company focuses on where it thinks the money is.
Magic Eden returns to Solana.
The changes are not small. Support for EVM and Bitcoin Ordinal and Rune will be discontinued on March 9, the Bitcoin API will be shut down on March 27, and the platform’s self-custodial wallets will go completely offline on April 1.
According to the report, the marketplace will continue to support Solana and some Pack products, but many of the cross-chain tools will be gone. Users are advised to move assets or export keys before the deadline to avoid losing access.
why did this happen
Costs and profits drove this move. Most engineering and infrastructure costs are tied to products that bring in only a portion of revenue, according to a post from company executives.
Updated Date @MagicEden and @DiceyHQ:
It is clear that we are entering a new era of integration between finance and entertainment. Now 2 months have passed. @DiceyHQis in closed beta and we’re incredibly optimistic about how things have progressed (up to 200 users, over $15 million in bets).
To focus on Dicey…
— Jack (@0xLeoInRio) February 27, 2026
Simply put: doing more with less. That calculation has prompted a rethinking of where to spend limited resources. One part of the business is doubling down on an on-chain casino called Dicey, which ran a private beta earlier this year and recorded high betting volumes.
What Beta Showed
Dicey’s pilot phase saw approximately 200 users wager approximately $15,000,000 over two months. According to the report, executives are confident the product can generate greater profits than the quiet NFT market the company has been supporting.
The casino plans to add a sportsbook and other betting features, and the company argues that betting could be a more reliable source of fees than small NFT listings.
Market Effects and Responses
The broader NFT market has been weak for months, and the closure is one of several signs that platforms are reducing their offerings. Some collectors and builders will be annoyed because the tools they used and the market will be removed.
Others will see this move as pragmatic. This means choosing fewer products rather than many that your company doesn’t understand well. After executives posted the details on social channels, industry media coverage quickly picked up the story.
A word from the CEO
Jack Lu wrote that the company is refocusing on its original Solana work and products with a clearer path to monetization.
He described the results of the private beta as “encouraging” and said the company would suspend its NFT buyback program to free up resources for its betting products.
Featured image from www.outsideonline.comTradingView Charts
editing process for focuses on providing thoroughly researched, accurate, and unbiased content. We adhere to strict sourcing standards and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of the content for readers.
