city Sequoia city Electric business Blockchain Adoption city Sequoia city Electric

Solana NFT marketplace Magic Eden closes $130M Series B round at $1.6B valuation

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cointelegraph.com

On Tuesday, Magic Eden, a popular nonfungible tokens (NFTs) platform on the Solana (SOL) blockchain with 112,927 SOL ($4 million) in 24-hour trading volume, announced that it had closed a Series B round for $130 million.

The funding round was led by investors such as Electric Capital, Greylock, Lightspeed Venture Partners, Paradigm and Sequoia Capital  valued the firm at $1.6 billion.The newly-infused capital will be used to expand the company's primary and secondary marketplaces, explore multi-chain opportunities, allow new hirings, and for use in research and development.

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