MagicEden CEO states they will cease supporting Ethereum and Bitcoin NFT markets to shift towards online gambling business

Odaily Planet Daily reports that the Solana ecosystem NFT marketplace MagicEden will gradually cease support for the Ethereum Virtual Machine and Bitcoin Runes and Ordinals markets. CEO and co-founder Jack Lu stated that these markets will stop operating starting March 9, Bitcoin API will shut down on March 27, and crypto wallet services will end on April 1.

Jack Lu said the company will terminate the NFT buyback program and redirect resources to its online casino and sports betting platform Dicey. He mentioned that most of the platform's costs are concentrated on products that generate little revenue, and moving forward, they will focus on the more profitable NFTPack product and prioritize the development of their crypto entertainment business. (Cointelegraph)