The popular Solana NFT market, which once pushed hard on Bitcoin and other blockchains, has quietly begun to reduce its footprint.
Reports say the shift will be quick and easy: several services will be shut down in March and April as the company puts its money where it wants to go.
Magic Eden returns to Solana
The change is not small. Support for EVM and Bitcoin Ordinals and Runes will be discontinued on March 9, the Bitcoin API will be shut down on March 27, and the platform’s self-supporting wallet will be completely offline on April 1.
Reports state that the marketplace will retain support for Solana and some Pack products, but many of the chain’s tools will be gone. Users have been told to transfer assets or export keys before the cut-off date to avoid losing access.
Why did it happen?
Expenditure and income caused movement. According to messages from the company’s management, most of the engineering and infrastructure costs were related to products that generated only a fraction of the revenue.
Update on @MagicEden and @DiceyHQ:
It is clear that we are entering a new era where finance and entertainment are coming together. We are now 2 months away @DiceyHQIt’s closed beta and it’s incredibly high profile how things are developing (~200 users, >$15 million in pledges).
To focus on Dice…
— Jack (@0xLeoInRio) February 27, 2026
Simply put: a lot of work for little money. This math has prompted a rethinking of where to spend limited resources. One part of the business is doubling down: a casino in the chain called Dicey, which closed beta earlier this year and received a lot of betting volume.
What the Beta showed
Dice’s pilot phase attracted about 200 users, who deposited about $15,000,000 in two months. Reports say the number convinced management that the product could deliver stronger returns than the quieter NFT markets the company supported.
The casino plans to add a sportsbook and other betting features, and the company believes that betting will be a more stable source of payouts than the smaller NFT listings.
Market influence and reaction
The broader NFT market has been weak for months, and this outage is one of several signs that platforms are reducing offerings. Some collectors and builders will be upset because their used tools and markets are being removed.
Others will see the move as pragmatic – a company with fewer product choices understands it better than many. After management released the details on social media, industry outlet coverage quickly picked up the story.
A word from the CEO
Jack Lu wrote that the company is focusing on its core business, Solana, and on products with clearer revenue streams.
He described the results of the closed beta as “encouraging” and said the company is winding down its NFT purchase program to free up resources for betting products.
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