The largest NFT marketplace on the Solana blockchain has advanced yet again.
Magic Eden recently announced the completion of a $130 million Series B funding round led by Electric Capital and Greylock Partner. These funds increase the NFT market's valuation to $1.6 billion.
According to The Block, investors were drawn to Magic Eden because of its large presence on the Solana blockchain, which is second only to Ethereum in popularity among metaverse enthusiasts.
Magic Eden is currently the third-largest NFT marketplace in terms of trading volumes, which is impressive given that the platform was only launched a year ago.
Magic Eden's primary goal following this Series B funding round is to work on its peer-to-peer NFT marketplace while also developing the primary marketplace Launchpad.
Stay tuned for more information about Magic Eden's expansion plans as they become available. Follow the official Twitter account of the company here.
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