Magic Raises $52M in Strategic Funding
Summary
The round, which brought the total amount to more than $80M, was led by PayPal Ventures, with participation from Cherubic, Synchrony, KX, Northzone, and Volt Capital. Led by CEO Sean Li, Magic serves as a WaaS provider for companies that are searching for safe ways to bring their customers over to web3. It provides an enterprise grade solution to web3 migration that is opening up new avenues from customer loyalty programs and digital collectibles to employee recognition, ticketing, memberships, and more. Once its SDK is implemented in a vendor’s code base, wallets can be instantaneously user-created through existing email, social, SMS, or federated logins. Customers are some of brands across retail, music, fashion and gaming including Mattel, Macy’s, Xsolla, and Immutable.
Funding
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