New SEC filing amends Magic Eden's Euclid Labs $27 million raise to $16.9 million

Quick Take

  • A new filing to the SEC amends the amount Euclid Labs, parent of Magic Eden, received in prior offerings. 
  • The firm formerly noted that it received $27 million in offerings, but the new filing amends that amount to $16.9 million. 

A new Securities and Exchange Commission filing said that Euclid Labs, the parent firm of the Solana-based NFT marketplace Magic Eden, may have raised a lower amount than previously known. 

The filing submitted on Jan. 25  shows an offering amount as $16.9 million from 31 investors. The filing amends a prior document submitted on March 10, 2022, which shows that Euclid Labs received an offering of nearly $27 million from 37 investors. 

Magic Eden did not immediately respond to The Block's request for comment. 

The Block reported the $27 million raise as Series A funding led by Paradigm, with additional participation from Sequoia Capital, Solana Ventures, Greylock Partners, Electric Capital and others.

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Magic Eden is Solana's most popular NFT marketplace. In January, the platform brought in $80.7 million, or 69.9%, of the month's total trading volume for Solana NFTs, according to The Block's Data Dashboard. 


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About Author

MK Manoylov has been a reporter for The Block since 2020 — joining just before bitcoin surpassed $20,000 for the first time. Since then, MK has written nearly 1,000 articles for the publication, covering any and all crypto news but with a penchant toward NFT, metaverse, web3 gaming, funding, crime, hack and crypto ecosystem stories. MK holds a graduate degree from New York University's Science, Health and Environmental Reporting Program (SHERP) and has also covered health topics for WebMD and Insider. You can follow MK on X @MManoylov and on LinkedIn.

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