{"id":"magic-eden","title":"Magic Eden","content":"**Magic Eden** is a digital marketplace that originated on the [Solana](https://iq.wiki/wiki/solana) network for the purpose of selling, purchasing, and creating non-fungible tokens (NFTs). While it began with a focus on [Solana](https://iq.wiki/wiki/solana), the platform expanded to become a multi-chain marketplace supporting blockchains such as [Bitcoin](https://iq.wiki/wiki/bitcoin), [Ethereum](https://iq.wiki/wiki/ethereum), and [Polygon](https://iq.wiki/wiki/polygon). In March 2026, the company announced a major strategic pivot, scaling back its NFT marketplace operations to focus on the iGaming sector.[\\[1\\]](#cite-id-u21ak7p2c1)​[\\[6\\]](#cite-id-Ri3APQHfxtDjnaLP)​\n\n[YOUTUBE@VID](NES3pJN7rYQ)\n\n## Overview\n\nMagic Eden was founded with the goal of simplifying the NFT minting process and lowering transaction fees compared to other platforms, particularly those on the [Ethereum](https://iq.wiki/wiki/ethereum) network. Initially, it offered 0% listing fees and a 2% transaction fee, which helped lower the barrier to entry for NFT creators and collectors on the [Solana](https://iq.wiki/wiki/solana) network. The platform's utility token for transactions on its native chain is the [Solana](https://iq.wiki/wiki/solana) (SOL) token.[\\[1\\]](#cite-id-u21ak7p2c1)​\n\nOver time, [Magic](https://iq.wiki/wiki/magic) Eden grew to become the largest marketplace on [Solana](https://iq.wiki/wiki/solana) and expanded to support multiple blockchains, including [Bitcoin](https://iq.wiki/wiki/bitcoin) (Ordinals and Runes), [Ethereum](https://iq.wiki/wiki/ethereum), [Base](https://iq.wiki/wiki/base), [Polygon](https://iq.wiki/wiki/polygon), [Avalanche](https://iq.wiki/wiki/avalanche), and others. Its product offerings grew to include an NFT marketplace, a mobile app, token swaps, a Launchpad for new collections, and various tools for creators.[\\[1\\]](#cite-id-u21ak7p2c1)​\n\nIn March 2026, CEO and co-founder [Jack Lu](https://iq.wiki/wiki/jack-lu) announced a significant strategic shift for the company. Citing that 80% of the company's costs were associated with products generating only 20% of its revenue, [Magic](https://iq.wiki/wiki/magic) Eden decided to scale back its multi-chain NFT marketplace ambitions. The company announced it would be \"doubling down\" on its on-chain casino and sportsbook platform, Dicey, while refocusing its NFT efforts primarily on its \"[Solana](https://iq.wiki/wiki/solana) roots\" and NFT packs.[\\[6\\]](#cite-id-Ri3APQHfxtDjnaLP)​\n\n## 2026 Strategic Pivot to iGaming\n\nOn March 2, 2026, Magic Eden announced it was pivoting its primary business focus from being a multi-chain NFT marketplace to concentrating on its online casino and sportsbook platform, Dicey. This move involved significantly scaling back its [Ethereum](https://iq.wiki/wiki/ethereum) and [Bitcoin](https://iq.wiki/wiki/bitcoin) NFT operations to refocus on its most profitable products and long-term growth in crypto entertainment.[\\[6\\]](#cite-id-Ri3APQHfxtDjnaLP)​\n\nAs part of the transition, the company announced the following key changes:\n\n* **Service Discontinuation:** Support for Ethereum Virtual Machine (EVM) and Bitcoin-based (Runes and Ordinals) marketplaces was scheduled to end on March 9, 2026. The Bitcoin API was set to be shut down on March 27, 2026, and the company's crypto wallet was to be discontinued on April 1, 2026.\n* **New Focus on Dicey:** The company's new primary focus became Dicey, an on-chain casino platform that had seen significant wagering volume during its beta phase.\n* **Future of NFTs:** Following the pivot, Magic Eden's NFT offerings would \"exclusively\" focus on NFT packs, which are bundles of random NFTs from various collections, with a renewed emphasis on its original [Solana](https://iq.wiki/wiki/solana) ecosystem.[\\[6\\]](#cite-id-Ri3APQHfxtDjnaLP)\n\n## Historic Marketplace Features\n\nPrior to its 2026 pivot, Magic Eden was a full-featured NFT marketplace. Users could connect a compatible crypto wallet, such as Phantom or [Solflare](https://iq.wiki/wiki/solflare), to the platform to begin buying and selling NFTs. The process involved funding the wallet with the appropriate cryptocurrency (e.g., SOL for [Solana](https://iq.wiki/wiki/solana) NFTs) and then browsing collections on the marketplace. The platform supported options to \"Buy now\" at a listed price or to make an offer to the seller.[\\[4\\]](#cite-id-do3kvds6j0r)​[\\[3\\]](#cite-id-11v13mu04kd)​\n\n![](https://ipfs.everipedia.org/ipfs/QmdZRmRCpFmdaLafwbmYY1DKGuVrdstoy74A251ELXPkwM)\n\nTo purchase tokens like SOL, users could utilize various cryptocurrency exchanges such as [Binance](https://iq.wiki/wiki/binance), [Coinbase](https://iq.wiki/wiki/coinbase), [OKEx](https://iq.wiki/wiki/okx), and [Huobi](https://iq.wiki/wiki/huobi-btc-hbtc). Once a wallet was funded and connected to Magic Eden, users could search for specific NFTs or browse popular and new collections.[\\[7\\]](#cite-id-RegBKQYRzX63BH3H)​[\\[8\\]](#cite-id-EXnt5AfuovL0OUs8)​\n\n[YOUTUBE@VID](r7LVs4I0j2c)\n\n#### Bidding Basics\n\nThe platform did not impose fees for canceling offers, but an offer price had to be held in the platform's escrow. To increase the chances of an offer being accepted by a seller, it was recommended that bidders submit offers of at least 50% of the listed price.[\\[5\\]](#cite-id-tupot67j8lh)​\n\n### Creator Tools: Launchpad and Mint Authority\n\nMagic Eden provided tools for creators to launch their own NFT collections.\n\n[YOUTUBE@VID](5QG4fD-_mqs)\n\n#### Launchpad\n\nThe 'Launchpad' was a curated program designed to help creators mint and distribute their NFT collections. To be accepted, creators had to submit an application detailing their project, team, and long-term roadmap. Magic Eden prioritized projects that demonstrated a clear vision and a focus on building a strong community.[\\[2\\]](#cite-id-hm6wc64l6u4)​\n\n![](https://ipfs.everipedia.org/ipfs/Qmdp7wQH4y5ryQze6XqYyD9midxnSBawkZBx9U31G4q3Pq)\n\nLaunchpad had specific criteria, including requiring complete applications and, initially, only accepting PNG-based artworks or static images. Creators were expected to mint their full collection at once at a randomized fixed price. After a successful application, creators would coordinate with the Magic Eden team for a devnet test launch before going live.\n\n![](https://ipfs.everipedia.org/ipfs/QmSFVBJZWSGefeeeT5qiwEZFX2tSH8BxSw3Fc22NdZDMoK)\n\n#### Mint Authority\n\nMagic Eden also introduced 'Mint Authority,' a self-service minting tool that gave creators more control over the minting process. This tool was designed to support public mints, airdrops, pre-sales, and 1/1 minting. It expanded support beyond images to include audio (mp3, wav), video (mp4, mov), and 3D files (gltf, glb).\n\n## Magic Eden Partnership with Raydium\n\n![](https://ipfs.everipedia.org/ipfs/QmbC6ybw5ntiARhghMdnFk5TMZfTNPZDGavtosZmdByh1p)\n\nIn September 2021, [Magic](https://iq.wiki/wiki/magic) Eden announced a partnership with [Raydium](https://beta.everipedia.org/wiki/raydium), another prominent platform in the [Solana](https://iq.wiki/wiki/solana) ecosystem. This collaboration aimed to increase NFT liquidity and accessibility by integrating their services. Under the partnership, NFTs could be traded natively on Raydium's website through an integration powered by [Magic](https://iq.wiki/wiki/magic) Eden, and projects were dual-listed across both platforms. Less than a month after its launch on September 18, 2021, [Magic](https://iq.wiki/wiki/magic) Eden's total trade volume had surpassed 350,000 SOL, demonstrating the rapid growth of the [Solana](https://iq.wiki/wiki/solana) NFT market at the time.\n\n## Conclusion\n\nMagic Eden rose to prominence as a leading NFT marketplace by offering a user-friendly and low-cost platform on the [Solana](https://iq.wiki/wiki/solana) network. It facilitated significant trading activity and became a central hub for the [Solana](https://iq.wiki/wiki/solana) NFT community. The platform later expanded to embrace a multi-chain strategy, supporting assets on [Bitcoin](https://iq.wiki/wiki/bitcoin), [Ethereum](https://iq.wiki/wiki/ethereum), and other networks.\n\nHowever, in a major strategic shift in March 2026, the company scaled back its NFT marketplace operations to pivot toward the iGaming industry with its Dicey platform, choosing to concentrate its remaining NFT efforts on its [Solana](https://iq.wiki/wiki/solana) origins and the sale of NFT packs. This evolution reflects the company's adaptation to changing market dynamics and its search for more profitable business models within the broader crypto entertainment space.[\\[6\\]](#cite-id-Ri3APQHfxtDjnaLP)​","summary":"Magic Eden is a digital marketplace that originated on the Solana network. After expanding to a multi-chain NFT platform, the company pivoted in 2026 to focus on the iGaming sector, scaling back its NFT marketplace operations.","images":[{"id":"QmcEs4zS7DRozDwVS5h7QG5CHqcjLgGwJ41bt6mMdvMnxc","type":"image/jpeg, image/png"}],"categories":[{"id":"nfts","title":"NFTs"}],"tags":[{"id":"Games"},{"id":"Entertainment"}],"media":[{"id":"Qmdp7wQH4y5ryQze6XqYyD9midxnSBawkZBx9U31G4q3Pq","size":"1.105","name":"https___bucketeer-e05bbc84-baa3-437e-9518-adb32be77984s3amazonawscom_public_images_a8b9d562-afb9-4b71-b757-26467e46b93a_1336x1050png.png","source":"IPFS_IMG"},{"id":"QmchcwuFfamwLBv4VUE9p4BeZ8KZ3V6Njp8uYbNp7p7mDH","size":"0.103","name":"FJrC3BLXoAUvCRAjpg.jpeg","source":"IPFS_IMG"},{"id":"QmSFVBJZWSGefeeeT5qiwEZFX2tSH8BxSw3Fc22NdZDMoK","size":"0.122","name":"AnyConvcom__FJ0lRZCWQAA0nT_jpg.jpeg","source":"IPFS_IMG"},{"id":"QmbC6ybw5ntiARhghMdnFk5TMZfTNPZDGavtosZmdByh1p","size":"0.906","name":"61688c6bc30f6524d81bc546_Rt7scXJ48oT0Re60_CF-PoNYppd269Mk0WHAsBX8ALX45D8rQLDKwMANb4M1McCzrJjJ1ukYKbB36ztHNrzDOfRhOfPxasG8pJNQsXNZ0I_FU1UBoXEo_jyFRC8_I_SXb6RzAlg=s0png.png","source":"IPFS_IMG"},{"id":"QmWgEBTbctYsgS5WvN2KcG1A3eiyfiwgPEhZRfo1vBjNhh","size":"0.067","name":"AnyConvcom__FJjtXeLVIAAn7X1jpg.jpeg","source":"IPFS_IMG"},{"id":"https://www.youtube.com/watch?v=NES3pJN7rYQ","size":"0","name":"NES3pJN7rYQ","type":null,"source":"YOUTUBE"},{"id":"https://www.youtube.com/watch?v=r7LVs4I0j2c","size":"0","name":"r7LVs4I0j2c","type":null,"source":"YOUTUBE"}],"metadata":[{"id":"website","value":"https://magiceden.io/"},{"id":"instagram_profile","value":"https://instagram.com/magicedenofficial"},{"id":"twitter_profile","value":"https://twitter.com/MagicEden"},{"id":"linkedin_profile","value":"https://www.linkedin.com/company/magic-eden/"},{"id":"youtube_profile","value":"https://www.youtube.com/c/MagicEden"},{"id":"discord_profile","value":"https://discord.gg/magiceden"},{"id":"references","value":"[{\"id\":\"u21ak7p2c1\",\"url\":\"https://magiceden.io/\",\"description\":\"Magic Eden marketplace website\",\"timestamp\":1661170551926},{\"id\":\"hm6wc64l6u4\",\"url\":\"https://twitter.com/MagicEden\",\"description\":\"Magic Eden on twitter\",\"timestamp\":1661170863680},{\"id\":\"11v13mu04kd\",\"url\":\"https://dappradar.com/solana/marketplaces/magic-eden\",\"description\":\"Magic Eden on Dappradar\",\"timestamp\":1661170893646},{\"id\":\"do3kvds6j0r\",\"url\":\"https://www.asiacryptotoday.com/magic-eden/\",\"description\":\"What is Magic Eden?\",\"timestamp\":1661171003265},{\"id\":\"tupot67j8lh\",\"url\":\"https://blog.magiceden.io/\",\"description\":\"Magic Eden Blog\",\"timestamp\":1661171046567},{\"id\":\"Ri3APQHfxtDjnaLP\",\"url\":\"https://cointelegraph.com/news/magic-eden-winds-down-evm-bitcoin-nft-markets-to-focus-on-gambling\",\"description\":\"Magic Eden pivots to iGaming, scales back marketplaces\",\"timestamp\":1772455418527},{\"id\":\"RegBKQYRzX63BH3H\",\"url\":\"https://beta.everipedia.org/wiki/coinbase\",\"description\":\"Coinbase\",\"timestamp\":1772455418527},{\"id\":\"EXnt5AfuovL0OUs8\",\"url\":\"https://beta.everipedia.org/wiki/huobi\",\"description\":\"Huobi\",\"timestamp\":1772455418527}]"},{"id":"previous_cid","value":"\"https://ipfs.everipedia.org/ipfs/QmVjWZ9KbNx7JfriBQvnxNxJA4ZB7KsL3MMsb8RnUKE6JS\""},{"id":"commit-message","value":"\"Removed page content and profile data.\""},{"id":"previous_cid","value":"QmVjWZ9KbNx7JfriBQvnxNxJA4ZB7KsL3MMsb8RnUKE6JS"}],"user":{"id":"0x8af7a19a26d8fbc48defb35aefb15ec8c407f889"},"author":{"id":"0x0B5558C75CB8e6aCB939eE8a317E0658EE44e46b"},"operator":{"id":"0x212Cb3F4aE6611054637f9f78F18fB628AD258bb"},"language":"en","version":1,"linkedWikis":{"blockchains":["solana","bitcoin","ethereum","polygon"],"founders":[],"speakers":[]},"recentActivity":"{\"items\":[{\"id\":\"3d3a50bd-3196-43a1-be63-ea4a21053f3c\",\"title\":\"Magic Eden\",\"description\":\"Magic Eden is a digital marketplace that originated on the Solana network. After expanding to a multi-chain NFT platform, the company pivoted in 2026 to focus on the iGaming sector, scaling back its NFT marketplace operations.\",\"timestamp\":\"2026-03-02T13:09:10.922Z\",\"category\":\"NFTs\",\"status\":{\"icon\":\"RiGlobalLine\",\"label\":\"Wiki Updated\",\"iconClassName\":\"text-green-500\"},\"user\":{\"name\":\"0x0B5558C75CB8e6aCB939eE8a317E0658EE44e46b\",\"address\":\"0x212Cb3F4aE6611054637f9f78F18fB628AD258bb\"},\"button\":{\"label\":\"View Summary\",\"icon\":\"RiFileTextLine\"},\"summarySections\":[{\"title\":\"Summary\",\"subtitle\":\"The summary was updated to reflect the platform's evolution and its 2026 pivot to the iGaming sector.\",\"variant\":\"modified\",\"changeCount\":1,\"changes\":[\"Updated summary text: \\\"Magic Eden is a digital marketplace that originated on the Solana network. After expanding to a multi-chain NFT platform, the company pivoted in 2026 to focus on the iGaming sector, scaling back its NFT marketplace operations.\\\"\"]},{\"title\":\"Linked Wikis\",\"subtitle\":\"Added linked wikis for relevant blockchains.\",\"variant\":\"added\",\"changeCount\":4,\"changes\":[\"Added linked wiki for 'solana'\",\"Added linked wiki for 'bitcoin'\",\"Added linked wiki for 'ethereum'\",\"Added linked wiki for 'polygon'\"]},{\"title\":\"Categories\",\"subtitle\":\"Categories were updated to reflect the platform's new focus on gaming and entertainment.\",\"variant\":\"modified\",\"changeCount\":3,\"changes\":[\"Removed category 'Marketplaces'\",\"Added category 'Games'\",\"Added category 'Entertainment'\"]},{\"title\":\"Images\",\"subtitle\":\"Removed several images from the wiki's media gallery.\",\"variant\":\"removed\",\"changeCount\":3,\"changes\":[\"Removed image 'pasted-image-0png.png'\",\"Removed image 'BASCgif.jpg'\",\"Removed image 'AnyConvcom__2543jpg.jpeg'\"]},{\"title\":\"Videos\",\"subtitle\":\"Added YouTube videos to the wiki's media gallery.\",\"variant\":\"added\",\"changeCount\":2,\"changes\":[\"Added video 'NES3pJN7rYQ'\",\"Added video 'r7LVs4I0j2c'\"]},{\"title\":\"References\",\"subtitle\":\"Updated references, adding new sources about the pivot to iGaming and removing outdated ones.\",\"variant\":\"modified\",\"changeCount\":2,\"changes\":[\"Added 3 new references.\",\"Removed 6 outdated references.\"]},{\"title\":\"Introduction\",\"subtitle\":\"The introduction was rewritten to include the platform's expansion to other blockchains and its strategic pivot to iGaming.\",\"variant\":\"modified\",\"changeCount\":2,\"changes\":[\"Updated the platform's description, noting its multi-chain support and 2026 pivot to the iGaming sector. [[1]](#cite-id-u21ak7p2c1)[[6]](#cite-id-Ri3APQHfxtDjnaLP)\",\"Added an introductory video.\"]},{\"title\":\"Overview\",\"subtitle\":\"The overview was rewritten to detail the company's growth, multi-chain strategy, and subsequent pivot to iGaming.\",\"variant\":\"modified\",\"changeCount\":1,\"changes\":[\"Expanded the section to cover the platform's growth, expansion to multiple blockchains, and the March 2026 announcement to focus on its on-chain casino, Dicey. [[1]](#cite-id-u21ak7p2c1)[[6]](#cite-id-Ri3APQHfxtDjnaLP)\"]},{\"title\":\"2026 Strategic Pivot to iGaming\",\"subtitle\":\"A new section was added to explain the company's 2026 business pivot from an NFT marketplace to an iGaming platform.\",\"variant\":\"added\",\"changeCount\":1,\"changes\":[\"Added details on the pivot to focus on the 'Dicey' casino platform, the discontinuation of EVM and Bitcoin marketplace support, and the future focus of its NFT offerings. [[6]](#cite-id-Ri3APQHfxtDjnaLP)\"]},{\"title\":\"Historic Marketplace Features\",\"subtitle\":\"A new section was added to archive the features of the marketplace before its 2026 pivot, consolidating content from removed sections.\",\"variant\":\"added\",\"changeCount\":2,\"changes\":[\"Added a new section describing past features for buying, selling, and bidding on NFTs. [[4]](#cite-id-do3kvds6j0r)[[3]](#cite-id-11v13mu04kd)[[7]](#cite-id-RegBKQYRzX63BH3H)[[8]](#cite-id-EXnt5AfuovL0OUs8)[[5]](#cite-id-tupot67j8lh)\",\"Added subsections detailing the former 'Launchpad' and 'Mint Authority' creator tools. [[2]](#cite-id-hm6wc64l6u4)\"]},{\"title\":\"Content Sections\",\"subtitle\":\"Multiple sections were removed, with their content either deleted or repurposed into the new 'Historic Marketplace Features' section.\",\"variant\":\"removed\",\"changeCount\":7,\"changes\":[\"Removed section: 'How to Buy NFTs in Magic Eden'\",\"Removed section: 'Mint NFTs By Applying at Magic Eden Launchpad'\",\"Removed section: 'Launchpad Criteria'\",\"Removed section: 'Features of Magic Eden (Creators)'\",\"Removed section: 'After Approval on Launchpad'\",\"Removed section: 'Mint Authority'\",\"Removed section: 'Top Collections on Magic Eden'\"]},{\"title\":\"Magic Eden Partnership with Raydium\",\"subtitle\":\"The section was updated to provide historical context on the September 2021 partnership.\",\"variant\":\"modified\",\"changeCount\":1,\"changes\":[\"Updated the text to frame the partnership as a significant event in the platform's early history.\"]},{\"title\":\"Conclusion\",\"subtitle\":\"The conclusion was rewritten to summarize the platform's full history, from its rise on Solana to its 2026 pivot to iGaming.\",\"variant\":\"modified\",\"changeCount\":1,\"changes\":[\"Updated the conclusion to reflect the platform's evolution and strategic shift towards the crypto entertainment space. [[6]](#cite-id-Ri3APQHfxtDjnaLP)\"]}]}]}"}