Jack@0xLeoInRio
Update on @MagicEden and @DiceyHQ:
It is clear we're entering a new era where finance and entertainment merge. We are now 2 months into @DiceyHQ’s closed beta and are incredibly bullish on how things have developed (~200 users, >$15M wagered).
To give Dicey the focus it deserves, it’s time for us to go all in with the full scope of our talent and resources. Therefore, we are streamlining the Magic Eden marketplace to focus exclusively on Packs and Solana.
With that lens, we are announcing a few changes to our product portfolio:
1// Betting: We are doubling down on @DiceyHQ to innovate in the crypto casino & sportsbetting space to capture the massive opportunity in iGaming.
2// Marketplace & Wallet: We are winding down support for our EVM marketplace (March 9), Bitcoin (Runes & Ordinals) marketplace (March 9), Bitcoin API (March 27), and the Magic Eden Wallet (April 1)
3// NFT Buybacks: We will be winding down NFT buybacks as they had minimal impact, and will instead shift our focus to ecosystem design and product initiatives, including the role future yield efforts towards the $ME token plays in that ecosystem.
4// $ME Token: $ME remains the central token of our ecosystem across Magic Eden and Dicey. As our product suite evolves, including Dicey, we expect $ME to remain an important part of how users engage across all of our products. Right now, our focus is on execution, product-market fit and scaling GTM for Dicey. We'll provide more clarity around $ME's integration into Dicey as the roadmap develops.
Why is there a need to streamline our products?
The 80/20 rule has become our reality: 80% of our cost are tied to products generating only 20% of our revenue. By winding down these products, we're refocusing on our Solana roots & retaining our most profitable products, betting on deep on crypto entertainment, and positioning our products for long term growth incl. the role of $ME token and our community plays within it.
The future of ME is simpler, faster, and fueled by our original home on Solana and the success of Dicey.
I can’t wait to share more about what we’re building at Dicey in the coming weeks.
