Magic Eden announces the gradual shutdown of its Ethereum and Bitcoin NFT businesses, focusing on the online casino Dicey. CEO Jack Lu stated that an imbalance between costs and benefits prompted the transformation, and two months of closed beta testing for Dicey have demonstrated early demand. In the future, resources will be concentrated on businesses with greater profit potential, while the Solana NFT marketplace and the "NFT Bundle" product will still be maintained.

In brief Magic Eden’s multi-chain approach is coming to an end. The NFT marketplace will stop supporting assets tied to Bitcoin and Ethereum. The company is leaning into an iGaming platform. Magic Eden co-founder and CEO Jack Lu disclosed on Friday that the NFT marketplace and token

In brief Magic Eden’s multi-chain approach is coming to an end. The NFT marketplace will stop supporting assets tied to Bitcoin and Ethereum. The company is leaning into an iGaming platform. Magic Eden co-founder and CEO Jack Lu disclosed on Friday that the NFT marketplace and token

This week, focus on Magic Eden's abandonment of multi-chain strategies and its impact on the NFT market, ETHZilla's asset tokenization transformation, Aave Labs' trust crisis, Zuckerberg's new attempts in the stablecoin field, and the potential risks of AI in the cryptocurrency market. The analysis suggests that the future of NFTs will depend on the co-evolution of technology and user demand, while new business models and challenges emerge in areas such as Coinbase, Stripe, and DeFi.

Written by: Glendon, Techub News In this crypto winter, the NFT sector is undoubtedly the "hardest hit." Trading volumes plummet, users leave, and project teams withdraw funding—all signs that the market's development seems to have hit the rewind button. Following the closures of NFT trading platform Nifty Gateway and NFT social platform Rodeo in January, another NFT platform plans to terminate some of its operations, seeking transformation and survival in the cold winter. Magic Eden, once a phenomenon-level multi-chain platform in the NFT market, is also inevitably undergoing a strategic contraction crucial to its survival: shutting down the Bitcoin and Ethereum EVM markets and ceasing support for its multi-chain wallet. Yesterday, according to