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Sonic, Solana's first Layer 2 gaming infrastructure protocol, has raised $12 million in a Series A round that attracted multiple venture capital investors.
The round brings Sonic's total raised to $16 million after the protocol's $4 million seed 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 Sonic Mirror World developer, powers this ecosystem. Sonic aims to power the Solana gaming ecosystem through a variety of tools including Web2 and Web3 login methods, an nft marketplace, a wallet, and an nft Launchpad.
The Mirror World team also plans to introduce custom rollups in Solana.
“Over the past two years, we have worked with hundreds of games in the Web3 gaming ecosystem, helping them with monetization and listing,” said Chris Zhu, founder and CEO of Sonic, in a statement.
“Solana was our biggest focus, with a full set of gaming tools and frameworks. “We believe Sonic SVM will be the key to unlocking Solana’s summer of games, bringing thousands of games to launch and market with our support.”
Sonic SVM as a reference protocol for games on Solana
Mirror World looks forward to deploying the new funds into initiatives to drive further growth for Sonic. Among the projected utilization is the distribution of Sonic grants to drive the addition of new developers to the Solana gaming ecosystem.
Solana has seen huge traction in the blockchain ecosystem in recent months, thanks to the rise of meme coins. The same trend has not materialized for the gaming sector on the leading retail 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, Justin Swart, director of BITKRAFT, said that they hope Sonic SVM will become the go-to network for game studios.