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Magic Eden to Shut Down Bitcoin and EVM Marketplac

#Create Content for HTX and Win a Share of 1000U! #HTX Trading Championship #Claim1,200 USDT in the Monthly Creation Challenge Magic Eden to Shut Down Bitcoin and EVM Marketplaces: What It Means for Users and the NFT Market Leading NFT marketplace Magic Eden has announced plans to shut down support for Bitcoin-based NFTs and EVM-compatible chains, marking a major strategic shift as the platform refocuses on its core strengths. The move comes amid changing market dynamics, declining NFT volumes across some ecosystems, and increasing competition among multi-chain NFT platforms. What Is Being Shut Down? Magic Eden confirmed it will discontinue: Bitcoin NFT support, including Ordinals and BRC-20–related marketplace activity EVM-based NFT marketplaces, covering chains such as Ethereum and other EVM-compatible networks Users will no longer be able to list, trade, or manage NFTs on these networks through Magic Eden after the shutdown deadline. Why Is Magic Eden Making This Move? The decision reflects a broader strategy realignment: 🔹 1. Focus on Core Ecosystems Magic Eden originally rose to prominence as the dominant NFT marketplace on Solana, where it continues to see relatively stronger engagement compared to other chains. 🔹 2. Declining Volumes on Bitcoin & EVM NFTs While Bitcoin Ordinals sparked hype in 2023–2024, trading activity has since cooled. Similarly, EVM NFT markets have struggled with lower liquidity and user fatigue. 🔹 3. Cost Efficiency and Sustainability Maintaining multiple blockchain infrastructures is resource-intensive. By narrowing its scope, Magic Eden aims to reduce operational costs and improve product quality.

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