skip to Main Content
bitcoin
Bitcoin (BTC) $ 96,106.75 1.05%
ethereum
Ethereum (ETH) $ 3,342.58 1.60%
tether
Tether (USDT) $ 0.998955 0.07%
xrp
XRP (XRP) $ 2.21 2.91%
bnb
BNB (BNB) $ 672.23 0.48%
solana
Solana (SOL) $ 185.16 0.63%
dogecoin
Dogecoin (DOGE) $ 0.31736 1.46%
usd-coin
USDC (USDC) $ 1.00 0.02%
staked-ether
Lido Staked Ether (STETH) $ 3,335.09 1.49%
cardano
Cardano (ADA) $ 0.903081 1.65%

Solana NFT marketplace Magic Eden closes $130M Series B round at $1.6B valuation

Magic Eden accounts for over 90% of NFT trading volume on Solana.

178 Total views

2 Total shares

Solana NFT marketplace Magic Eden closes $130M Series B round at $1.6B valuation

On Tuesday, Magic Eden, a popular nonfungible tokens (NFTs) platform on the Solana (SOL) blockchain with 112,927 SOL ($4 million) in 24-hour trading volume, announced that it had closed a Series B round for $130 million. The funding round was led by investors such as Electric Capital, Greylock, Lightspeed Venture Partners, Paradigm and Sequoia Capital  valued the firm at $1.6 billion.

The newly-infused capital will be used to expand the company’s primary and secondary marketplaces, explore multi-chain opportunities, allow new hirings, and for use in research and development. Since its inception in September 2021, the marketplace now receives an average of 22 million unique monthly sessions and sees over 40,000 NFTs traded daily.

Magic Eden’s Launchpad has also onboarded over 250 projects to date. In addition, it offers customization, marketing support, and operational execution to new NFT collections coming onto the primary market. Meanwhile, its secondary market covers over 7,000 listings and sees over 92% of all NFT volume on Solana.

Furthermore, Magic Eden has also launched over 50 games and metaverse projects. In that segment, the firm oversees 90% of all gaming NFTs on Solana traded on its marketplace. Regarding the development, Zhuoxun Yin, chief operating office and co-founder of Magic Eden, commented:

“We’re thrilled to have the continued support of our investors and community and look forward to delivering on Solana and beyond.”

Loading data ...
Comparison
View chart compare
View table compare
Back To Top