Solana-based non-fungible token (NFT) marketplace Magic Eden has raised $27 million in a Series A funding round led by Paradigm, CoinDesk reports.
Other participants in the funding round include Sequoia Capital, Solana Ventures, Greylock Partners, Electric Capital as well as other venture capital firms.
Magic Eden CEO Jack Lu has said the funds raised will help the project “focus on the blockchain gaming sector.” To this end, the Eden Games content hub has already been launched, allowing game publishers to share their landing pages. Lu said:
“We account for over 90% of the aftermarket turnover of the Solana gaming NFT ecosystem.”
The company also intends to open a division of Magic Ventures “in the coming weeks” and expand the team with new members.