NFT marketplace
Magic Eden
magiceden.io ↗ME market data →
Also known as magiceden.io, ME, ME Foundation, Magic Eden Wallet, Dicey
magic eden
Magic Eden is an NFT marketplace that began on Solana, expanded to Bitcoin Ordinals and EVM chains, and in March 2026 retreated to Solana only. It shut its Bitcoin and EVM marketplaces on 9 March 2026 and its multi-chain wallet on 1 April 2026, and is putting its effort into Dicey, a crypto gambling product. Its token is ME, governed through the ME Foundation.
Our read
Magic Eden is still a working Solana NFT marketplace, but it is a company in the middle of a turn away from NFTs toward betting, and older descriptions of its Bitcoin and EVM strength no longer match what it runs. If you ever listed Ethereum, Polygon or Base NFTs there in 2024, revoke the Payment Processor V2 approval now: the September 2026 exploit went through exactly those old approvals.
Key facts
- Bitcoin and EVM marketplaces closed
- 9 March 2026; Bitcoin API ended 27 March; wallet sunset 1 April
- Apr 2026 · Bitcoin.com News ↗
- ME token supply
- 1 billion, distributed over four years, over 50% to the community
- Sep 2026 · CoinMarketCap ↗
- Payment Processor V2 exploit
- 25 Sep 2026: ~660 WETH (~$1.7M) taken; 23,155 NFTs (~$5.7M) rescued by white hats
- Sep 2026 · Decrypt ↗
- Market share peak
- 36.7% of NFT marketplace volume in August 2024, sixth month on top
- Aug 2024 · CoinGecko Research ↗
Magic Eden news: the 2026 retreat to Solana
In 2024 Magic Eden was briefly the biggest NFT marketplace anywhere, carried by Bitcoin Ordinals: CoinGecko put its share at 38.5% in March 2024 and 36.7% of all marketplace volume in August 2024. Two years later it has undone most of that expansion.
| Date | What closed |
|---|---|
| 9 Mar 2026 | Bitcoin Ordinals and Runes marketplace; EVM marketplaces (Ethereum, Polygon, Avalanche and others) |
| 27 Mar 2026 | Bitcoin API |
| 1 Apr 2026 | Magic Eden Wallet goes export-only |
| 1 May 2026 | Wallet app removed |
The company said it was concentrating on "its core Solana business, where the majority of its trading volume has historically originated." The other reason is Dicey, a crypto casino and sports-betting product. CEO Jack Lu said its closed beta had about 200 users and over $15 million in wagers in two months, and called the team "incredibly bullish" on it. Solana NFT trading and Packs continue.
Does Magic Eden still support Bitcoin Ordinals?
No. Ordinals and Runes trading ended on 9 March 2026 and the Bitcoin API on 27 March. Inscriptions you bought there are still yours on the Bitcoin chain; you need a Bitcoin wallet that handles Ordinals, such as Xverse or Unisat, and another marketplace to trade them.
This matters because Ordinals were the reason Magic Eden overtook the Ethereum venues in 2024. Older reviews that praise its Ordinals market describe a product that no longer exists.
What happened to the Magic Eden wallet
The multi-chain Magic Eden Wallet went export-only on 1 April 2026 and the app was removed on 1 May 2026. If you still have funds in it, the recovery phrase is the only way back: import it into another self-custody wallet that supports the same chains. Magic Eden never held the keys, so it cannot recover assets for you.
Old approvals are the bigger risk. On 25 September 2026 an attacker used a flaw in Limit Break's Payment Processor V2, a contract Magic Eden's EVM marketplace used from February to October 2024, to take NFTs whose owners had listed them in that window. Magic Eden said no live listings were affected. White hats coordinated by Yuga Labs' 0xQuit moved 23,155 NFTs worth about $5.7 million to safety, but about 660 WETH was taken first.
- 01Open revoke.cash with the wallet you used on Magic Eden in 2024.
- 02Check Ethereum, Polygon and Base.
- 03Revoke "approved for all" permissions granted to Payment Processor V2.
- 04Watch for a return notice if your NFTs were moved to the white-hat wallet.
ME token, airdrop and rewards
ME has a fixed supply of 1 billion, released over four years with more than half for the community, and is administered by the ME Foundation. Holders can stake it for voting power in the DAO and for rewards; the company says ME will be the central token of both the marketplace and Dicey. In the 2026 restructuring Magic Eden said it was phasing out NFT buybacks to put resources into "future yield initiatives for the ME token."
For price, unlocks and supply, see the ME market page. The token fell roughly 80% in the six months to April 2026.
Incident log
2 entries · $1.7M lost in total · repaid, confirmed: 0 of 1 where user funds were at stake
Exploit$1.7M
Payment Processor V2 exploit through old EVM listing approvals
An attacker exploited Limit Break's Payment Processor V2, used by Magic Eden's EVM marketplace between February and October 2024, to pull NFTs through approvals users had never revoked. Stolen items included 10 Meebits, 50 Otherdeeds, 10 World of Women and 235 Desperate ApeWives; about 660 WETH (~$1.7M) was extracted.
Partly repaidWhite hats moved 23,155 at-risk NFTs (~$5.7M) to a safe wallet and say they will return them once owners revoke approvals; the 660 WETH taken before that is not reported recovered.Other
Bitcoin and EVM marketplaces and wallet shut down
Magic Eden closed its Bitcoin Ordinals, Runes and EVM marketplaces, then put its wallet into export-only mode on 1 April and removed it on 1 May 2026. Users had to export recovery phrases to keep access.
No funds at stakeSelf-custody wallet; assets remain on-chain and recoverable with the user's recovery phrase.
In our ratings
This page is the record. The scores sit on the review cards, next to the evidence and the weights they came from.
Compare Magic Eden with
TensorNFT marketplace · 2022 · Cayman IslandsSolana NFT marketplace with an AMM for NFT pools, launched in 2022; since Nov 2025 run by the Cayman-based Tensor Foundation after its founders joined Coinbase.
OpenSeaNFT marketplace · 2017 · United StatesUS NFT marketplace founded in 2017, now also a token-trading app on 20+ chains; charges 1% on NFT sales and has promised a SEA token that is still unlaunched.
BlurNFT marketplaceEthereum NFT marketplace and aggregator for traders, launched in October 2022, with a 0% marketplace fee, the BLUR governance token and Blend NFT lending.
RaribleNFT marketplace · 2019NFT marketplace and open protocol founded in 2019, first to issue a governance token (RARI, 2020); bought by Impossible Finance in 2026 and back on Solana.
Frequently asked questions
What is Magic Eden on Solana?+
Magic Eden is a Solana NFT marketplace for buying, selling and minting NFTs, plus Packs. Since March 2026 Solana is the only chain it trades.
Is Magic Eden shutting down?+
No. It closed its Bitcoin and EVM marketplaces and its wallet in spring 2026 but still runs the Solana marketplace and is building Dicey.
Magic Eden or OpenSea?+
For Solana NFTs both now work; OpenSea added Solana support again on 31 August 2026 and covers 20+ other chains. For Ordinals or EVM NFTs, Magic Eden is no longer an option. Our [marketplace ratings](/ratings/nft-marketplaces) compare them.
Is Magic Eden safe after the September 2026 exploit?+
Magic Eden says no live listings were affected; the exploit used 2024-era EVM approvals. Revoke the Payment Processor V2 approval on Ethereum, Polygon and Base if you listed there.
Who runs Magic Eden?+
The company is led by CEO Jack Lu; the ME token and DAO are administered by the ME Foundation. Backers include Electric Capital, Greylock, Paradigm and Sequoia.
What changed
- Profile published.
Compiled by
By James Park
NFT & Web3 Gaming Analyst · September 27, 2026
We have no commercial relationship with Magic Eden and earn nothing from any link on this page. Every fact above carries the date it was true and a link to where it comes from; if one is out of date, the contact page reaches the editor who keeps this file.