MagicEden CEO announces the cessation of support for Ethereum and Bitcoin NFT markets, shifting focus to prediction markets

The Solana ecosystem NFT market MagicEden will gradually cease support for the Ethereum Virtual Machine and the Bitcoin Runes and Ordinals markets. CEO and co-founder Jack Lu stated that the relevant markets will stop operating on March 9, the Bitcoin API will be shut down on March 27, and the cryptocurrency wallet service will end on April 1.

Jack Lu mentioned that the company will terminate the NFT buyback program and redirect resources to its prediction market Dicey. He stated that most of the platform's costs are concentrated on products that contribute little revenue, and in the future, they will retain the more profitable NFTPack product and focus on the development of the crypto entertainment business.