Sonic has recently announced that it has reached a new milestone with a total raise of $16 million, following a $4 million seed round in early 2022. This round was made possible through the support of venture capital firm BITKRAFT Ventures and other crypto-focused investment firms such as Galaxy Interactive and Big Brain Holdings. The funding will propel Sonic’s mission to drive Solana’s gaming ecosystem by offering a range of tools, including Web2 and Web3 login methods, an NFT marketplace, a wallet, and an NFT Launchpad.
HyperGrid, a core technology developed by Sonic’s developer Mirror World, plays a crucial role in powering this ecosystem. Sonic’s aim is to support game developers within Solana’s gaming ecosystem with tools and frameworks, as well as to distribute Sonic grants to facilitate the onboarding of new developers. Chris Zhu, the founder and CEO of Sonic, emphasized the company’s commitment to Solana and their work with hundreds of games in the Web3 gaming ecosystem over the past two years.
Despite the recent traction that Solana has gained in the blockchain ecosystem, particularly with meme coins, the gaming sector on the blockchain has not seen a comparable surge. However, Sonic’s strong focus and strategic partnerships signal a promising future. Justin Swart, Principal at BITKRAFT, expressed confidence in Sonic’s potential, stating that they expect Sonic SVM to become the go-to network for gaming studios.
These developments herald an exciting new phase for Sonic as it continues to expand and enhance Solana’s gaming ecosystem.