Bugs Plague Magic Eden Wallet Wind Down Prompting User Backlash

Stalwarts of Solana NFT culture, Magic Eden has issued a reminder that the ME Wallet will enter a deprecated, export-only mode from today, April 1st.

The wallet wind down comes amidst a wider pivot for the OG NFT marketplace, which is attempting to reinvent itself as a TCG and sports-betting company.

Cushioning the frustrations that might come from the sunsetting of the Magic Eden Wallet, $ME holders have been promised a 100% boost on staking rewards.

Users Face Issues with Multichain Wallet Export

One month after announcing the deprecation of its multichain wallet, Magic Eden has issued a final reminder that the wallet will enter ‘Export-Only’ mode from April 1st. Application users have been advised to export private keys and seed phrases, or transfer assets out of the wallet or risk losing them completely.

Certain users have reported difficulties with the export process, citing issues with multichain elements and a poor user experience. One ecosystem participant remarked that it was impossible to copy a wallet’s private keys, forcing them to manually write long strings of characters by hand.

Other users have reported different issues, ranging from repeatedly failed transfers to UI failures that have made it impossible to input passcodes to access the wallet.

The ME Wallet wind down marks the final page in what was arguably a forgettable chapter for the OG Solana NFT marketplace. Originally developed as an all-in-one, multichain crypto app, the Magic Eden wallet struggled to attract a competitively sized user base in its years of operation. 

Sentiment towards the product hit its lowest around the time of the $ME TGE, when the company restricted all airdrop claims to its proprietary wallet, causing widespread frustration and dissatisfaction among recipients.

$ME Staker Rewards to Double in Q3

Fortunately, it’s not all bad news for Magic Eden supporters. On March 23rd, Magic Eden announced its intention to double $ME staking rewards, allocating 30% of protocol revenue to $ME buybacks and $USDC distributions.

[

While positive in theory, $ME stakers have scolded the team for its efforts. Detractors argue that the increase is insubstantial given the size of the existing rewards. That being said, holders have expressed optimism in Magic Eden’s future, suggesting that its upcoming casino and sportsbetting app, DiceyHQ, could help boost revenue long term.

Magic Eden Goes All In on TCG, Sports Betting

Magic Eden is undoubtedly in a transitory period. After dominating Solana’s NFT scene for many years and raising $159M, Magic Eden is currently in the midst of a necessary pivot away from languishing NFT markets into emerging markets like onchain trading cards.

Having enjoyed a tremendously lucrative 2025, and a strong start to 2026, TCG applications are reviving onchain NFT activity. According to Dune Analytics data, onchain TCG venues generated ~$20M in revenue in March alone.

Currently Magic Eden’s TCG packs are powered by Collector Crypto, Solana’s leading marketplace and gacha operator.

Read More on SolanaFloor

Solana welcomes its first Singapore Dollar

StraitsX Launches SGD-Pegged Stablecoin Amidst Calls For Onchain Forex Markets

Solana Apps Are Cooking: