magic eden

About

Magic Eden is an NFT marketplace built for dealers, artists, and collectors who want a fast and flexible way to explore digital assets. It started on Solana and later expanded into a strong multi-chain marketplace. Today, it supports Ethereum, Bitcoin Ordinals, Polygon, Base, Arbitrum, and other networks. The platform focuses on deep liquidity across major NFT ecosystems, low costs, and a smooth user experience. Magic Eden covers NFT drops, creator launchpads, advanced trading tools, and cross-chain aggregation. This makes it easy for beginners to get started while still meeting the needs of professional traders. Key Features of Magic Eden: • The Magic Eden aggregator pulls listings from multiple marketplaces, helping users spot better deals without jumping between sites • Creators can launch NFT collections through the Magic Eden launchpad, with built-in tools for minting, royalties, and drops • Charges reasonable marketplace costs and lets developers list NFTs without incurring upfront listing expenses. • Features such as collection bids, floor price tracking, and rarity insights cater to both buyers and traders. Magic Eden Milestones Year Achievements 2021 Founded in September 2021 by Jack Lu, Sidney Zhang, Zhuoxun Yin, and Zhuojie Zhou Raised $2.5 million in seed funding in October 2021 to kickstart the development of the platform 2022 Raised $27 million in March 2022 in a Series A funding round led by Paradigm Raised another $130 million in June 2022 in Series B, reaching a $1.6 billion valuation with Electric Capital and Greylock 2023 Launched a marketplace for Bitcoin Ordinals in March 2023 Released the ‘Lucky Buy’ feature in September 2023 to give users a chance to buy high-value NFTs at discounted prices 2024 Became the world’s largest NFT marketplace in March 2024 by monthly trading volume at $734 million Released a self-custody wallet supporting Solana, Bitcoin, Ethereum, and Polygon in January 2024 Released the $ME token to facilitate reward and governance on multiple chains 2025 Acquired Slingshot, a mobile app for cryptocurrency trading, in April 2025 to expand into fungible token markets Released the ‘Packs’ feature in October 2025, which generated $15 million in the first week

Team (1)

• Zhuoxun YinOperations, growth

Funding

• Initial Coin OfferingAlameda -Research5,00,00001 Jul 2022
• Series AParadigm2,70,00,00001 Mar 2022
• Venture RoundAlameda -Research1,00,00,00001 Jan 2022
• Seed RoundElectric Capital001 Sept 2021

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