# Magic Eden

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/magic-eden

- Industry: Financial Services
- Headquarters: San Francisco, US
- Website: www.magiceden.io
- Total disclosed funding: $156M
- Latest round: Series A (Jun 14, 2022)
- Investors on record: 8

## About

Magic Eden is a US-based online marketplace specializing in the buying, selling, and trading of non-fungible tokens (NFTs) across multiple blockchain platforms.Magic Eden operates as an NFT marketplace focused on facilitating digital asset transactions. Founded by Blanca Gonzales, Bradon Zhang, Jack L, Sidney Zhang, Zhuojie Zhou, and Zhuoxun Yin, the company is headquartered in San Francisco, US. On June 14, 2023, Magic Eden raised USD 6.218 mn in funding, marking a significant addition to its total amount raised of USD 6.218 mn.Magic Eden operates as a comprehensive NFT marketplace that facilitates the buying, selling, and trading of non-fungible tokens (NFTs) across various blockchain platforms, including Solana, Bitcoin, Ethereum, Base, ApeChain, and Polygon. Its core offerings include a user-friendly NFT minting experience, advanced analytics, and marketplace aggregation, catering to individual collectors, creators, and investors globally.Magic Eden generates revenue primarily through transaction fees on NFT trades. Users create accounts to list their NFTs, with the platform facilitating exchanges between buyers and sellers via a commission-based structure that takes a percentage of each transaction. This model capitalizes on high transaction volumes, especially as NFT popularity grows, and may include premium services for creators and collectors.In June 2023, Magic Eden secured USD 6.218 mn in venture funding, which will be utilized to enhance its platform features and expand its market presence. The company plans to design and launch new products aimed at improving user engagement, while also focusing on entering new geographic markets to broaden its client base.

## Funding rounds

- Series A, Jun 14, 2022, $129M — Lightspeed Venture Partners, Hong Shan, Greylock Partners, Electric Capital, Paradigm
- Seed, Mar 9, 2022, $27M — Greylock Partners, Kindred Capital, Electric Capital, NGC Ventures, Variant, Paradigm

## Investors

- Greylock Partners (https://capitalatlas.ai/funds/greylock-partners) — Seed, Series A
- Kindred Capital (https://capitalatlas.ai/funds/kindred-capital) — Seed
- Electric Capital (https://capitalatlas.ai/funds/electric-capital) — Seed, Series A
- NGC Ventures (https://capitalatlas.ai/funds/ngc-ventures) — Seed
- Variant (https://capitalatlas.ai/funds/variant) — Seed
- Paradigm (https://capitalatlas.ai/funds/paradigm) — Seed, Series A
- Lightspeed Venture Partners (https://capitalatlas.ai/funds/lightspeed-venture-partners) — Series A
- Hong Shan — Series A