Solana-Based L2 Sonic Secures $12M Series A: The Future of Blockchain Gaming is Here!
Hey guys, it's Mr. Beast here, bringing you some exciting news from the world of blockchain gaming! Sonic, a Solana-based Layer 2 platform, just secured a whopping $12 million in a Series A funding round. Bitkraft Ventures led the charge, with big names like Galaxy Interactive and Big Brain Holdings also jumping on board. This new injection of funds brings Sonic's valuation to an impressive $100 million! How awesome is that?
What's Sonic All About?
So, you're probably wondering, what exactly is Sonic? Developed by Mirror World Labs (MWL), Sonic is built on the innovative HyperGrid Framework technology. This tech uses Solana rollups for horizontal scaling, which means developers can easily deploy decentralized applications (dApps) from the Ethereum Virtual Machine (EVM) to Solana. That's some next-level stuff right there!
But wait, there's more! This seamless integration makes for an ultra-fast on-chain gaming experience, all thanks to the Solana Virtual Machine (SVM). And the best part? It comes at a minimal cost. Sonic's big dream is to turbocharge the Solana Gaming Ecosystem, handling millions of requests per second per game and settling them back onto Solana L1. Imagine the possibilities!
The $12M Series A Details
Let's dive into the details of that $12 million Series A round. It was structured as equity with token warrants, adding to Sonic's total funding, which now stands at $16 million after a $4 million seed round last year. Bitkraft Ventures didn't just bring the money; they're also joining Sonic's board, showing serious commitment to the project.
Chris Zhu, the brains behind Sonic, had this to say: "Sonic provides an exceptionally fast on-chain game experience, powered by Solana Virtual Machine (SVM), at minimal cost." This cutting-edge technology is set to make waves in the blockchain gaming world.
Justin Swart from Bitkraft Ventures is super pumped about Sonic's future. He believes the SVM will be "the go-to destination for any gaming studio that wants to build games within the Solana ecosystem." Talk about a vote of confidence!
Sonic Testnet Odyssey: Get Ready to Play and Earn
But that's not all, folks! Sonic has more exciting news with the upcoming launch of its incentivized testnet campaign, Odyssey. This testnet will let you play games and send transactions, earning rewards in the form of "rings." While these rings aren't directly convertible to Sonic tokens, you'll still score some cool rewards. Sounds like a blast, right?
Looking ahead, Sonic has big plans to launch its native token alongside its mainnet in the third quarter of 2024. This is going to be a game-changer for the blockchain gaming platform, and I can't wait to see what's next!
