Magic Eden, the NFT marketplace that has since expanded into crypto casino and sportsbook operations, is winding down its multi-chain crypto wallet. The platform announced that wallet support and app store listings would end on April 1, with a full shutdown following on May 1. A last-minute reminder posted to the company’s community Discord server has prompted urgent questions from users scrambling to migrate their assets ahead of the deadline. The notice warned that losing access to a device or downloaded version of the app could mean permanently losing access to stored funds.
According to Magic Eden’s guided export walkthrough, users who already have the wallet app or browser extensions installed may retain access until May 1, giving them additional time to export their private keys. However, anyone who does not currently have the app installed will be unable to download it once it is removed from app stores on April 1. After May 1, the wallet is expected to shut down entirely and may cease to function altogether, leaving no path to recovery for unprepared users.
The method for recovering funds depends on which blockchain a user’s assets reside on. Those who held funds on Ethereum or Bitcoin may be able to use their seed phrase — a mnemonic sequence of 12 or 24 words encoding the private key — to restore their wallet addresses through a third-party provider. Users with assets on Solana, however, face additional complications, as Solana addresses may appear differently when imported elsewhere. Magic Eden is specifically encouraging those users to export their private keys directly to ensure continued access to their Solana holdings.
Magic Eden originally launched in 2021 with a focus on Solana-based NFTs before expanding to support digital collectibles across multiple blockchains. In January, the company launched Dicey, a crypto casino product, as part of a strategic pivot away from digital collectibles. Alongside that announcement, the platform said it would end support for NFTs on Ethereum, Ethereum-based chains, and Bitcoin — markets where it had previously been a leading platform, particularly in Ordinals and Runes trading, Bitcoin’s equivalents of NFTs and fungible tokens.
The platform’s native token, trading under the ticker ME, has suffered a dramatic decline amid the company’s strategic shifts. The token is down 99.94% from its all-time high of $17, reached in December 2024. According to data from CoinGecko, ME was recently trading around $0.09, representing a market capitalization of approximately $50 million, though it posted a modest gain of around 0.8% on the day and sits roughly 4% above its all-time low.
Users are advised to act promptly to avoid losing access to their assets. Those still holding funds in the Magic Eden wallet should export their private keys or seed phrases and transfer their holdings to an alternative wallet provider before the May 1 final shutdown date. The company’s export guide is available through its official channels for those seeking step-by-step instructions on how to complete the migration process.
Originally reported by Decrypt.
