Excessive flying Solana-based NFT market, Magic Eden, has raised an unbelievable $130 million via Collection B funding. In consequence, reaching an distinctive $1.6 billion valuation, and cementing its unicorn standing within the course of.
The incredible effort got here by the hands of lead buyers, Electrical Capital and Greylock Companions, with further help supplied by Lightspeed Ventures, Paradigm, and Sequoia Capital amongst others. The profitable funding spherical will guarantee a vibrant future for the platform and supply a springboard for its subsequent phases of growth.
guys we made it on the entrance web page of @FinancialReview 🤩🇦🇺 🙌🏼🤌🏼🦘 pic.twitter.com/Q4iejpxoKv
— Magic Eden 🪄 (@MagicEden) June 22, 2022
Going forwards, Magic Eden will use the funds to scale up its operations and develop its unbelievable group. All of the whereas, exploring new and revolutionary methods to make the Solana-based expertise out there farther afield, and open up help to a variety of blockchains unfold all through the NFT ecosystem.
Loads has occurred since Magic Eden opened its doorways simply 9 months in the past. Following which, a meteoric rise has seen it turn out to be the main driving pressure behind Solana NFT development. Presently, it boasts an astounding 98% market share of the Solana-based NFT ecosystem, whereas sustaining a gentle growth seemingly unaffected by the encroaching crypto winter.
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