Solana NFT Marketplace Magic Eden Raises $130M at $1.6B Valuation

Magic Eden, the NFT marketplace on Solana, has raised $130 million in a Series B funding round co-led by Electric Capital and Greylock. Magic Eden says it plans to use the funds to expand its primary and secondary marketplaces, as well as explore "multi-chain opportunities". Magic Eden previously raised a $27 million Series A led by Paradigm, Sequoia Capital and Solana Ventures in March.