MagicEden CEO says they will stop supporting Ethereum and Bitcoin NFT markets and shift to prediction markets

ChainCatcher News, 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 the related markets will stop operations starting March 9, Bitcoin API will shut down on March 27, and the crypto wallet service will end on April 1.

Jack Lu said the company will terminate the NFT buyback program and redirect resources to its prediction market Dicey. He mentioned that most of the platform’s costs are concentrated on products that generate less revenue, and moving forward, they will retain the more profitable NFTPack product and focus on the development of crypto entertainment business.

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