Dubai, UAE, June 30, 2024, Chainwire
Sonic, the first atomic SVM chain enabling sovereign gaming economies on , has achieved significant milestones on its recently launched incentivized testnet “Odyssey,” reaching 100,000 connected wallets and over 17 million transactions on the way to mainnet launch.
support Backed by multi-strategy crypto investment firm Cypher Capital, Sonic’s latest funding will enable the company to scale its ecosystem, support growth and expand its core development, game relations and marketing teams globally as it prepares for its mainnet launch. Currently, Sonic’s active testnet allows users to participate in a variety of on-chain activities, including sending transactions and playing games, to make their debut on Sonic.
“Cypher Capital has been a great partner in expanding our ecosystem into new territories,” said Sonic founder Chris Zhu. “Leveraging their extensive community network and key connections to affiliate funds, we are working together to bring games to Solana.”
As the only Solana virtual machine game chain, Cypher supports Sonic’s go-to-market strategy. Built using a horizontal scaling framework called HyperGrid, a rollup framework based on Solana, Sonic allows any game to launch its own blockchain rollup, unlocking customizability in designing new sovereign game economies.
“We are pleased to support Sonic in building the first SVM L2 gaming chain to expand the Solana gaming ecosystem,” said Harsh Agarwal, Head of Investments at Cipher Capital. “Chris has exceptional knowledge and insight as a founder, and we are very confident in his vision for enabling the gaming economy on Solana.”
About Sonic
Sonic is the first atomic SVM chain built to enable sovereign gaming economies on Solana. Sonic enables sovereign rollup-and-settlement gaming economies on Solana. Sonic is built on Solana’s first co-scaling framework called HyperGrid, enabling the first grid orchestrated by such a framework.
About Cipher Capital
Cypher Capital is a leading early stage strategic venture firm focused on investing in Web3 infrastructure and applications that drive the new digital economy. With environmental, social and governance priorities in every investment decision, Cypher is shaping the future of digital currency, public markets and Web3.
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contactMedia ManagerShamim Shahdisgrace@cyphercapital.com
