2 years ago
Non-fungible token (NFT) marketplace has raised $27 cardinal successful Series A circular to expands it scope of products and services.
The circular was led by Paradigm and included contributions from Sequoia and Solana Ventures, the Solana-based steadfast announced connected Monday. NFTs are integer assets connected a blockchain that correspond ownership of virtual oregon carnal items.
The steadfast claims to beryllium the largest NFT marketplace connected Solana having surpassed transaction measurement of much than 7.5 cardinal SOL implicit the past six months. It besides boasts implicit 90% marketplace stock for NFT games secondary trading volume.
Magic Eden said it volition usage the funds to physique retired a gaming vertical and motorboat an NFT mobile exertion for the browsing, minting and trading of NFTs connected the go.
The Solana ecosystem has been one of the main beneficiaries from developers and traders seeking an alternate to the precocious transaction fees connected Ethereum. In January, Research by JPMorgan pointed toward Ethereum's NFT marketplace stock having dropped to 80% compared to 95% a twelvemonth earlier.
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Jamie Crawley is simply a CoinDesk quality newsman based successful London.
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