Magic Eden, a leading non-fungible token (NFT) marketplace, is shutting down its Bitcoin and Ethereum Virtual Machine (EVM) trading platforms and discontinuing its multi-chain wallet in a major strategic pivot. The company will begin winding down its Bitcoin Ordinals and EVM-compatible marketplaces—spanning networks like Ethereum, Polygon, and Avalanche—in the first week of March 2026.
Concurrently, its cross-chain wallet will enter an export-only mode by mid-March and be fully discontinued in early April. Support for Solana-based NFTs and assets will continue uninterrupted. The company is urging users to withdraw assets from the closing marketplaces and wallet before the termination dates to avoid losing access.
This move marks a reversal from Magic Eden's previous multi-chain expansion strategy. Originally launched in 2021 as a Solana-native platform, it expanded into Bitcoin Ordinals in 2023 and EVM chains thereafter to capture broader market share. However, sustaining operations across different blockchain architectures introduced operational complexity and resource challenges. The retrenchment is seen as a consolidation effort to streamline engineering focus and strengthen its core Solana business, where the majority of its historical trading volume originates.
Analysts interpret the shutdown as part of a wider strategic recalibration. Magic Eden has signaled ambitions beyond traditional NFT marketplaces, looking to expand into crypto-native entertainment experiences such as prediction markets and interactive digital assets. The decision underscores a broader industry trend toward platform specialization and consolidation, as marketplaces prioritize depth of liquidity and ecosystem-specific integrations over universal multi-chain coverage.
