Magic Eden Shifts Focus From NFTs to Casino Platform

Solana-based NFT marketplace Magic Eden is significantly scaling back its NFT operations, including support for Bitcoin Ordinals/Runes and its EVM marketplace, to concentrate on its online casino and sportsbook platform, Dicey. CEO Jack Lu announced the winding down of support for various marketplaces and APIs throughout March and April, stating there is a "massive opportunity" in iGaming where finance and entertainment merge. Lu highlighted that Dicey's closed beta saw 200 users wager over $15 million in two months. The strategic shift is driven by the fact that 80% of the platform's costs were tied to products generating only 20% of revenue, allowing Magic Eden to refocus on its Solana roots and profitable entertainment products, while only retaining NFT packs.

(Source：Cointelegraph)