Solana-based NFT marketplace Magic Eden raises $130 million at a $1.6 billion valuation

Magic Eden, a Solana-based NFT marketplace, raised $130 million following a Series B round, according to a пресс-релизе.

The round was led by Electric Capital and Greylock Partners. Also participating were Lightspeed Venture Partners, Paradigm and Sequoia Capital. Investors valued the project at $1.6 billion.

In a conversation with The Block, co-founder Jack Lu заявил that the round participants were attracted by the rapid growth of the marketplace’s share in the Solana ecosystem.

The platform, which has been operating for less than a year, is the third-largest by trading volume in the NFT segment.

Lu added that the marketplace is pursuing a promising segment of gaming NFTs:

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

The raised funds will be used to develop a P2P NFT marketplace and Launchpad platform, which helps issue token collections.

Developers also plan to support other blockchains besides Solana. Details of the multi-chain strategy will be published in the coming weeks.

The project team numbers around 100 people. The company plans to expand its staff by about 50% in the next 6-12 months, Lu noted.

Earlier in March Magic Eden attracted $27 million in its Series A round.

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