NFT Marketplace Magic Eden Raises $130M

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Solana-based non-fungible token marketplace Magic Eden has raised $130 million in a Series B funding round.

According to the press release, the round was led by Electric Capital and Greylock Partners. Other participants include Lightspeed Venture Partners, Paradigm and Sequoia Capital. Investors have valued the project at $1.6 billion.

Magic Eden co-founder Jack Lu gas said that the participants in the round were attracted by the rapid growth of the marketplace share in the Solana ecosystem.

The platform, which launched less than a year ago, is the third in terms of trading volume in the NFT segment.

Lu has added the marketplace is developing a promising segment of gaming NFTs:

“Investors have been very optimistic about our expansion into this area.”