Why the largest Bitcoin NFT platform is closing down

Magic Eden raised $150 million in 2022. In 2024, it clocked $734 million in trading volume in a single month. Now, the company is shutting down its Bitcoin and Ethereum NFT marketplaces and sunsetting its multi-chain wallet. The Blockspace team breaks down why (and what went wrong) on the latest news roundup. 🎧 Catch the latest episode of 'The Blockspace Pod,’ in partnership with Blockspace Media! 📺 Watch: https://go.coindesk.com/3UH5phM?term=organic&utm_campaign=CoinDesk&utm_content=Blockspace+Pod%2CPodcast+Partnerships%2CBlockspace+Media+Q1+26&utm_medium=social&utm_source=youtube 🎧 Spotify: https://go.coindesk.com/4bdam8m?term=organic&utm_campaign=CoinDesk&utm_content=Blockspace+Pod%2CPodcast+Partnerships%2CBlockspace+Media+Q1+26&utm_medium=social&utm_source=youtube 🎧 Apple: https://go.coindesk.com/42adA8N?term=organic&utm_campaign=CoinDesk&utm_content=Blockspace+Pod%2CPodcast+Partnerships%2CBlockspace+Media+Q1+26&utm_medium=social&utm_source=youtube