Excessive flying Solana-based NFT market, Magic Eden, has raised an unbelievable $130 million by means of Collection B funding. Because of this, reaching an distinctive $1.6 billion valuation, and cementing its unicorn standing within the course of.
The unbelievable effort got here by the hands of lead traders, Electrical Capital and Greylock Companions, with further assist offered by Lightspeed Ventures, Paradigm, and Sequoia Capital amongst others. The profitable funding spherical will guarantee a brilliant future for the platform and supply a springboard for its subsequent phases of growth.
— Magic Eden 🪄 (@MagicEden) June 22, 2022
Going forwards, Magic Eden will use the funds to scale up its operations and increase 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 assist to a variety of blockchains unfold all through the NFT ecosystem.
Lots 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 key driving pressure behind Solana NFT development. At present, it boasts an astounding 98% market share of the Solana-based NFT ecosystem, whereas sustaining a gradual growth seemingly unaffected by the encroaching crypto winter.
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*All funding/monetary opinions expressed by NFT Plazas are from the private analysis and expertise of our web site moderators and are supposed as instructional materials solely. People are required to totally analysis any product prior to creating any sort of funding.
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