Sonic Raises $12M for Solana Gaming Blockchain
Sonic, a gaming-focused layer-2 blockchain built on Solana, has successfully raised $12 million in a recent funding round. The Series A round was led by Bitkraft and included investments from Galaxy Interactive and Big B...
Archive context
Older archive item. Useful for background and entity history, but not a fresh market-moving signal.
Sonic, a gaming-focused layer-2 blockchain built on Solana, has successfully raised $12 million in a recent funding round. The Series A round was led by Bitkraft and included investments from Galaxy Interactive and Big Brain Holdings.
The funds will be allocated to expanding the Sonic protocol, which features game development tools tailored for the Solana ecosystem. According to the press release, Sonic offers “built-in mechanisms designed specifically for game development and execution on Solana, such as a sandbox environment, customizable gaming primitives, and extensible data types, all while providing the fastest on-chain gaming experience.”
Sonic was developed by Mirror World Labs, a two-year-old infrastructure company led by CEO Chris Zhu. Zhu, who graduated from New York University in 2020 and previously worked for ByteDance, the parent company of TikTok, has been pivotal in driving Sonic’s growth.
“We expect the Sonic SVM to become the go-to destination for any gaming studio that wants to build games within the Solana ecosystem,” said Justin Swart, principal at Bitkraft, in the press release.
This latest fundraising round follows an earlier $4 million seed round in 2022, bringing the total funds raised to $16 million.
Featured Image: Freepik
Why this matters
This altcoin story adds another data point to the current market tape and is useful when read alongside nearby source coverage.
Original source
Read on CryptoCurrencyNewsRelated market context
DeFi Development Corp Adds 47,706 SOL As Treasury Passes 2.5M Tokens
TL;DR DeFi Development Corp added approximately 47,706 SOL and SOL equivalents since September 21. Total holdings have reached rou...
Bitcoin’s $84,000 wall gets harder to break as ETF inflows sink to $31 million
US Bitcoin exchange-traded funds drew just $31 million in inflows on Sept. 28 as institutional demand weakened while BTC stalled b...
PUMP Crypto Surges +15%: Will Pump.Fun Explosion Boost SOL?
PUMP crypto is trading at $0.0058, up nearly +15% overnight after a +60% move over the past two weeks. Daily trading volume has al...
Blockchain.com Reportedly Eyes $500 Million IPO at $4 Billion to $6 Billion Valuation
Blockchain.com has told prospective investors it plans a public listing before year-end, seeking about $500 million in an initial...
Pokemon Crypto Case: Collector Faces Trial Over $55 Million Hack
U.S. indictment alleges two Uranium Finance crypto exploits moved through Tornado Cash before being used to buy Pokemon cards and...
Ethereum Price Prediction: Could Aztec’s zk.money Drive ETH Higher as Zcash Fuels Privacy Narrative?
Ethereum is trading at $2,665, flat over 24 hours, leaving it below the $2,700–$2,735 resistance band as our recent price predicti...