About Magic Eden Solana NFT Platform
As the popularity of NFTs continues to grow, so does the demand for platforms that can support them. Magic Eden is one of the leading platforms for NFT trading and it is quickly gaining popularity due to its high transaction speeds and low fees. In fact, Magic Eden currently accounts for over 90% of all NFT trading volume on Solana.
Magic Eden is a decentralized exchange that allows users to trade NFTs in a safe and secure environment. The platform uses the Solana blockchain, which means that transactions are fast and cheap. Additionally, Magic Eden is one of the few platforms that allows users to trade multiple NFTs at the same time. If you’re looking to get involved in the growing world of NFTs, then Magic Eden is definitely worth checking out.
The well-known nonfungible tokens (NFTs) platform Magic Eden, which runs on the Solana (SOL) blockchain and has a 24-hour trading volume of $4 million worth of tokens (112,927 SOL), revealed on Tuesday that it has successfully concluded a Series B round of funding for $130 million. The company received a valuation of $1.6 billion during the investment round, which was spearheaded by investors such as Electric Capital, Greylock, Lightspeed Venture Partners, Paradigm, and Sequoia Capital.
Magic Eden gets new Investment to Increase Growth
The newly invested funds will be put to use in a variety of ways, including the growth of the company’s major and secondary markets, the investigation of prospects involving many chains, the facilitation of new hirings, and the conduct of research and development. Since it first opened its doors in September 2021, the market has grown to accommodate an average of 22 million distinct monthly sessions and currently facilitates the daily exchange of more than 40,000 NFTs.
In addition, more than 250 projects have been accepted into Eden’s Launchpad to this point. In addition to this, it provides new NFT collections that are entering the main market with customisation, marketing assistance, and operational execution services. While this is going on, its secondary market has more than 7,000 listings and accounts for more than 92 percent of all NFT traffic on Solana.
In addition, Magic Eden has been responsible for the launch of over fifty other games and metaverse initiatives. Within this sector, the company is responsible for supervising ninety percent of all gaming NFTs on Solana that are exchanged on its marketplace. Zhuoxun Yin, chief operating officer and co-founder of Magic Eden, offered the following statement in regard to the latest development: “We are delighted to have the ongoing support of our investors and the community, and we eagerly anticipate delivering on Solana and beyond.”