Magic Eden Shifts Focus From NFTs to Casino Platform

Solana-based marketplace Magic Eden is winding down several NFT and crypto services to concentrate on its casino platform, Dicey. The company will end support for its Ethereum Virtual Machine and Bitcoin-based Runes and Ordinals marketplaces on March 9, close its Bitcoin API on March 27, stop its crypto wallet on April 1, and end its NFT buyback program.

CEO and co-founder Jack Lu said the move follows a two-month closed beta for Dicey that drew about 200 users who wagered more than $15 million. Dicey operates as an on-chain casino and plans to add a sportsbook, in a model similar to blockchain gambling sites such as Stake.

Magic Eden will significantly scale back its broader NFT operations and focus exclusively on NFT packs, which bundle random items from various collections. The change marks a shift away from what was once one of the most popular NFT marketplaces.

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