Sonic, a layer-2 blockchain platform focused on gaming and built on top of Solana, recently completed a successful fundraising round, raising a total of $12 million. This Series A round was led by Bitkraft and saw participation from investors such as Galaxy Interactive and Big Brain Holdings, as stated in a press release.
The funds raised will be utilized for various growth initiatives related to the Sonic protocol. This protocol is equipped with special features tailored specifically for game development and execution on the Solana network. These features include a sandbox environment, customizable gaming tools, and flexible data types, all of which contribute to providing the fastest on-chain gaming experience possible, according to the press release.
Mirror World Labs, the infrastructure behind the Sonic project, was established two years ago and is spearheaded by CEO Chris Zhu. Zhu, who earned a bachelor’s degree from New York University in 2020, has previous experience working at ByteDance, the parent company of the popular video-sharing platform TikTok.
Justin Swart, a principal at BITKRAFT, expressed confidence in the Sonic project, stating, “We expect the Sonic SVM to become the go-to destination for any gaming studio that wants to build games within the Solana ecosystem.” This endorsement highlights the potential impact and significance of Sonic within the gaming industry.
This recent fundraising effort follows a previous seed round in 2022, where Sonic raised $4 million. With the additional $12 million secured in the Series A round, the total funds raised by Sonic now amount to $16 million. This financial backing positions Sonic strongly for further development and expansion within the gaming sector on the Solana blockchain.
The success of Sonic’s fundraising efforts underscores the growing interest and investment in blockchain-based gaming platforms. As the gaming industry continues to embrace blockchain technology for enhanced gaming experiences and opportunities, platforms like Sonic are well-positioned to make significant contributions and advancements in this space. The support from prominent investors and the vision outlined by Sonic’s leadership signal a promising future for the project and its potential impact on the gaming ecosystem.