Magic Eden Wallet Enters Export-Only Mode Ahead Of Full Shutdown
Magic Eden has confirmed that its multi-chain crypto wallet will no longer support transactions and will enter export-only mode from 1 April, giving users a final window to move their private keys or seed phrases.
The wallet will be removed from all app stores, and no new downloads or recoveries will be possible.
Users are urged to export their keys immediately, as the wallet will fully shut down on 1 May, eliminating any possibility of recovering assets through the app.
Why Users Must Act Fast On Wallet Exports
Existing wallet holders can continue using the downloaded app or browser extension to export private keys until May 1.
A Magic Eden representative stated on the platform’s community Discord,
“Tomorrow, the ME Wallet will go into a deprecated export only mode and be removed from app stores. If you lose access to your device or downloaded version of the app, this means you will also lose access to any wallets.”
Assets can be transferred to other wallets before 1 April, or restored using the wallet’s seed phrase.
Users with Solana holdings are advised to export private keys carefully, as addresses may appear differently in other wallets.
Those who previously used Ethereum or Bitcoin wallets can restore funds through the mnemonic phrase.
Deleting the wallet app is strongly discouraged, as it cannot be recovered.
Magic Eden’s Strategic Shift From NFTs To Gaming
The wallet deprecation follows Magic Eden’s broader pivot from its NFT marketplace roots towards the crypto casino and sportsbook platform Dicey, announced at the end of February.
Earlier in March, the platform closed its Ethereum and Bitcoin marketplaces, cutting liquidity from Bitcoin ordinals and other NFT collections, and shut down the Bitcoin API on 27 March.
Despite this shift, Magic Eden continues to support Solana collectibles, Pokémon packs, and its Solana NFT marketplaces including Solana Packs and Solana Lucky Buy.
Notable NFT sales, such as Crypto Punks fetching as much as 31 ETH, remain visible on the platform.
What Happens With ME Tokens And Rewards
The ME token remains central to Magic Eden’s ecosystem, used for staking rewards and as the main utility token within Dicey.
Stakers still receive USDC rewards, and the platform has initiated a ME buyback programme.
Currently trading around $0.1, ME is near its all-time low and down 99.4% from its December 2024 peak of $17.
The token still has 28.4% of its supply locked under linear unlock schedules.
Although the ME launch coincided with the NFT market downturn and was heavily criticised for minimal user rewards, the platform continues to integrate the token into its gaming economy.
ME remains the key route for users to interact with Magic Eden’s offerings beyond NFT trading.
Could Users Lose Access If They Delay Exporting Keys
Magic Eden’s move leaves no room for error.
Only users with the app or extension downloaded before 1 April can export their keys.
After May 1, the wallet will shut down completely.
Anyone without access to the app by then will be unable to recover their funds.
The platform emphasises that securely storing the seed phrase and transferring assets to a new wallet is essential for maintaining access.
The shift signals Magic Eden’s full focus on mixing finance and entertainment on-chain, while winding down operations tied to its former role in NFTs and Bitcoin marketplaces.