Magic Eden Ditches Multi-Chain Ambitions for Solana Focus

Magic Eden, a prominent NFT marketplace, has announced that it will be shutting down its Bitcoin and EVM marketplaces as part of a strategic pivot towards the Solana ecosystem. This move allows the platform to focus its resources on improving the user experience within the Solana blockchain.

The decision to discontinue support for these platforms is driven by data showing that they generated only a small fraction of Magic Eden's total trading volume, while consuming significant development and operational resources.

As part of this restructuring, users holding assets on the affected marketplaces will need to withdraw their NFTs from the platform's interface before support ends. This will ensure that they can maintain access to their digital collectibles.