Sonic, the pioneering Solana Virtual Machine (SVM) chain dedicated to enabling independent game economies on the Solana network, has achieved a significant milestone with its incentivized testnet, “Odyssey.” This testnet has recently surpassed 100,000 connected wallets and facilitated over 17 million transactions, laying the groundwork for its imminent mainnet launch.
Sonic Secures Global Expansion with New Cypher Capital Investment
Supported by a $308 million investment from Cypher Capital, a multi-strategy crypto investment firm, Sonic’s latest fundraising efforts aim to strengthen its ecosystem ahead of its mainnet debut. These funds will bolster core development, enhance game-related initiatives, expand marketing efforts globally, and fortify Sonic’s foundational teams.
Currently, Sonic hosts an active testnet where users are encouraged to participate in various on-chain activities, including transactions and forthcoming game launches.
Chris Zhu, Sonic’s founder, acknowledged Cypher Capital’s pivotal role in the growth and development of Sonic. He highlighted Cypher Capital’s extensive community connections and access to strategic funding, which have been instrumental in bridging gaming innovations onto the Solana network.
Cypher Capital Facilitates Sonic’s Entry into the Solana Market
As the sole Solana Virtual Machine gaming chain, Cypher Capital supports Sonic in formulating its market entry strategy. Sonic’s infrastructure is built on HyperGrid, a horizontal scaling solution integrated with Solana. This feature allows each game to establish its own blockchain rollup, fostering independent game economies and enabling flexible design options.
Harsh Agarwal, Investment Lead at Cypher Capital, expressed enthusiasm about backing Sonic in developing the first SVM Layer 2 Gaming Chain. He praised Chris Zhu’s vision and expertise, expressing confidence in Sonic’s capability to empower gaming economies on the Solana blockchain.
These advancements position Sonic at the forefront of blockchain gaming convergence. The company’s strong performance on its testnet has garnered attention from major investors and crypto market participants, signaling promising trends in the adoption of blockchain gaming on Solana. With its upcoming mainnet release, Sonic is poised to make significant strides in the industry.