Solana
Sonic Raises $12M to Drive Solana Gaming Ecosystem
Sonic, Solana’s first Layer 2 gaming infrastructure protocol, secured $12 million in a Series A round that attracted several venture capitalists.
The funding round brings Sonic’s total raise to $16 million following the protocol’s $4 million funding round raised in early 2022.
Solana’s first L2 gaming platform
Sonic, built by GameFi infrastructure platform Mirror World Labs, is an atomic L2 compatible with the Solana virtual machine for sovereign gaming economies.
HyperGrid, a core technology from developer Sonic Mirror World, powers this ecosystem. Sonic aims to drive Solana’s gaming ecosystem through a range of tools including Web2 and Web3 login methods, an NFT Marketplace, Wallet and NFT Launchpad.
The Mirror World team is also considering the introduction of personalized rollups on Solana.
“Over the past two years, we have worked with hundreds of games in the Web3 gaming ecosystem, helping them with their monetization and SEO,” Chris Zhu, founder and CEO of Sonic, said in a statement.
“Solana was our main focus, with a whole suite of tools and frameworks for games. We believe Sonic SVM will be the key to unlocking the summer of Solana gaming, bringing thousands of games to launch and release with our support.
Sonic SVM as a must-have protocol for gaming on Solana
Mirror World plans to deploy the new funds into initiatives aimed at driving Sonic’s growth. Among the intended uses is the distribution of Sonic Grants to stimulate the onboarding of new developers into Solana’s gaming ecosystem.
Solana has seen great popularity in the blockchain ecosystem in recent months, thanks to a boom in meme coins. The same trend has not materialized for the gaming sector on the leading retail-friendly blockchain.
Sonic announced today that venture capital firm BITKRAFT Ventures led the Series A funding round. The funding also attracted participation from Galaxy Interactive and Big Brain Holdings, among other crypto-focused investment firms .
However, BITKRAFT Director Justin Swart said they expect Sonic SVM to become the go-to network for game studios.