In the Solana NFT space, Magic Eden has completed a notable Series B funding round, accumulating $130 million in the process.

Solana The funding round raised by Magic Eden, amounting to $130 million, saw leadership from Electric Capital and Greylock Partners, along with support from other venture capital entities like Lightspeed Venture Partners, Sequoia Capital, and Paradigm. The capital will facilitate growth in both primary and secondary marketplaces, fostering opportunities beyond just Solana.

Earlier in March, Magic Eden secured $27 million during its Series A funding phase. With this latest success, the company has achieved unicorn status, boasting a valuation of $1.6 billion.

This relatively new marketplace, which has only been around for nine months, markets itself as a nurturing ground for the upcoming generation of digital artists. In a bid to create community engagement, it has rolled out MagicDAO, allowing holders of one of the 30,000 Magic Tickets to participate in decisions regarding the marketplace's future direction.

Magic Eden’s Launchpad has already facilitated the introduction of 250 new projects, providing essential services such as customization, marketing, and operational assistance for emerging collections. Additionally, the secondary market enables users to tap into liquidity and discover a plethora of collections, all while benefiting from a zero listing fee and a modest 2% transaction fee. NFT Attracting over 10 million visitors each month, the marketplace also sees more than 100,000 daily wallet connections. Magic Eden accounts for over 90% of the secondary trading volume for Solana-based NFTs in gaming, which reaches an impressive $1.8 billion.

According to the company’s  website Jack Lu, co-founder and CEO of Magic Eden, remarked, \"NFTs serve as the ideal gateway for engaging people with Web3. They create enjoyable, social, and cultural experiences, making Web3 much more accessible for everyday consumers.\"

"Since we launched, our focus has been to uplift both creators and users throughout this exciting growth phase for our company and the entire industry. The best part is that we are just scratching the surface of our potential,\" said Lu. said  on Twitter.

Magic Labs is pioneering new methods to assist newcomers in the web3 arena. commented . 

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