Magic Eden laid off 22 employees, or about 15% of staff, during a company-wide restructuring.
SourcePublic company, workplace, funding, and market signals
Magic Eden is a crypto-entertainment and digital-asset trading company that began as a Solana NFT marketplace and expanded into cross-chain wallets, token trading, launchpad tools, and — more recently — iGaming-oriented products. Public sources describe it as a fast, intuitive platform for minting, collecting, listing, and trading NFTs and tokens across multiple chains.
Primary product
Cross-chain NFT and digital-asset trading platform
Founded
2021
Headquarters
San Francisco, California, United States
Team size
51-200
Work style
Remote
Industry
Software Development
Sub-industry
NFT marketplace / digital asset trading
Offices
2 jobs at Magic Eden
Business model
Stage
Series B
Total raised
$157M
Latest round
Series B · Jun 2022
Latest amount
$130M
Leadership
CEO & Co-Founder
Co-Founder & CTO
Co-Founder & COO
Co-Founder & Chief Engineer
Public signals point to a remote-first, fast-paced builder culture with twice-yearly in-person offsites, a strong shipping orientation, and broad emphasis on crypto-native experimentation. Public employee reviews are mixed, with compensation seen more favorably than work-life balance.
Work style
Remote
Compensation
Public job posts advertise competitive compensation plus equity. Example postings show salary bands such as $120k-$140k for People Ops and $200k-$250k for senior backend roles, along with benefits like PTO, health coverage, a WFH allowance, and a U.S. 401(k).
Benefits
Pricing
Marketplace take-rate / transaction-fee model
Differentiators
Technology
Customers
Competitors
Estimated revenue
USD 70M-80M
Estimated monthly visits
317.4K
Traffic estimate as of Mar 2026
Magic Eden laid off 22 employees, or about 15% of staff, during a company-wide restructuring.
SourceMagic Eden announced and completed the acquisition of Slingshot Finance to expand into chain-abstracted token trading and compete with centralized exchanges.
SourceMagic Eden announced it would wind down Bitcoin and EVM marketplace support and discontinue its multi-chain wallet while pivoting toward Solana and iGaming products such as Dicey.
SourceDecrypt · Feb 2026
Reported that Magic Eden will end Bitcoin/Ethereum-compatible marketplace support and move further toward Solana and iGaming, marking a major strategic pivot.
The Defiant · Jan 2026
Covered Magic Eden's plan to direct 15% of platform revenue into ME buybacks and staking rewards, and noted market reaction to the token economics.
Magic Eden · Nov 2025
Official announcement that Magic Eden would allocate 15% of NFT marketplace revenue to ME token buybacks and 15% to NFT repurchases.
Business Wire · Apr 2025
Official acquisition announcement for Slingshot, positioning Magic Eden as a broader all-chains trading platform beyond NFTs.
The Defiant · Jan 2025
Reported Magic Eden's launch of a zero-fee, no-code NFT launchpad to help creators and communities mint and sell collections more easily.