Dubai, UAE, June 30th, 2024,
Chainwire
Sonic, the first atomic SVM chain enabling
sovereign game economies on Solana, hit a significant milestone
with its recently launched incentivized testnet “Odyssey,” reaching
100,000 connected wallets and over 17 million transactions in the
buildup to a mainnet launch.
Backed by Cypher Capital, a
multi-strategy crypto investment firm, Sonic’s latest fundraise
allows it to expand its ecosystem in the leadup to the mainnet
launch and support growth, expanding its core development, game
relations, and marketing teams globally. Currently, Sonic’s active
testnet invites users to engage in a variety of on-chain
activities, such as sending transactions and playing games to debut
on Sonic.
"Cypher Capital has been a great partner in helping us
expand our ecosystem into new territories,” said Chris Zhu, Founder
of Sonic. “With a wide community network and critical connections
to relevant funds, together we are bringing gaming to
Solana."
As the only Solana Virtual Machine gaming chain, Cypher is
supporting Sonic’s go-to-market strategy. Built with a horizontal
scaling framework called HyperGrid, a rollup framework that settles
on Solana, Sonic allows any game to launch their own blockchain
rollup, unlocking customizability in designing new sovereign game
economies.
“We are excited to support Sonic in building the first
SVM L2 Gaming Chain, designed to expand the Solana Gaming
Ecosystem,” said Harsh Agarwal, Investment Lead at Cypher Capital.
“Chris possesses exceptional knowledge and insight as a founder and
we are very confident in his vision of enabling gaming economies on
Solana.”
About Sonic
Sonic is the first atomic SVM chain built to enable sovereign
game economies on Solana. Sonic enables sovereign game economies
that rollup and settle on Solana. Built on top of the first
concurrent scaling framework for Solana, called HyperGrid, Sonic is
the first to bring a Grid orchestrated by such a framework.
About Cypher Capital
Cypher Capital is a leading early-strategy venture firm focused
on investing in Web3 infrastructure and applications that will
drive the new digital economy. Guided by environmental, social, and
governance for every investment decision, Cypher is shaping the
future of digital currency, public markets, and Web3.
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