Magic Eden has efficiently established itself as the most important NFT market inside the Solana ecosystem. Extra just lately, the workforce has introduced the creation of a model new warfare chest – launching {the marketplace} into the neighborhood of blockchain unicorns.
In response to an announcement from Magic Eden, the capital will focus on blockchain gaming, with the enterprise funding arm being branded ‘Magic Ventures’.
To goal for blockchain gaming initiatives, the corporate has onboarded Tony Zhao – previously of Tencent – so as to head up its gaming investments wing.
Very similar to a few of the extra built-in blockchain funds on the market, Magic Ventures doesn’t merely provide capital. When the workforce indicators new sport builders, they’re inducted into Magic Eden’s broader ecosystem. In doing so, it exposes any new venture to a broader neighborhood and already well-functioning economic system and secondary market.
Being the dominant pressure in Solana for NFT gross sales, this makes Magic Ventures a cornerstone in inducting new gaming initiatives to Solana.
At current, Magic Eden’s Video games division has already introduced a number of new agreements with video games already inside Solana. These are Aurory, Mini Royal: Nations and Genopets.
Rising as a startup, Magic Eden has managed to quickly rise from NFT market on Solana, to crypto unicorn. Final month, the corporate managed to lift $130 million at a $1.6 billion valuation.
