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Techub News reports that Magic Eden tweeted that it will increase the proportion of core revenue used for ME token buybacks and staker dividends from the previous 15% to 30% in the third quarter.
Techub News reports, citing informed sources via Blockspace, that the multi-chain trading platform Magic Eden plans to shut down its Bitcoin and EVM marketplaces and terminate its multi-chain wallet service. Magic Eden is expected to announce this decision as early as today, with plans to close the Bitcoin and EVM marketplaces in the first week of March. Subsequently, its multi-chain wallet will enter export-only mode in mid-March and will cease all services completely in early April.
Techub News, Magic Eden announced the launch of its first buyback program, committing 15% of its NFT marketplace revenue to repurchase its native token ME, and an additional 15% to buy NFT collections listed on its platform as part of an initial ecosystem support initiative. These repurchased NFTs will be held in The Garden of Eden, a public on-chain asset treasury. The token buyback will commence immediately, while the NFT buyback will start with Solana-based collections and gradually expand to Bitcoin, Monad, Ethereum, and other ecosystems throughout 2025.
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