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.

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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