Sonic, the pioneering Solana Virtual Machine (SVM) chain that promotes independent game economies on the Solana network, has achieved a significant milestone with its incentivized testnet called “Odyssey.” This testnet has recently reached a remarkable milestone of 100,000 connected wallets and has recorded over 17 million transactions. This achievement sets the stage for the imminent launch of its mainnet.
To further strengthen its ecosystem before the mainnet launch, Sonic has secured the support of Cypher Capital, a multi-strategy crypto investment firm with a funding of $308 million. This latest fundraising effort aims to expand Sonic’s core development, game-related, and marketing teams worldwide. These funds will be instrumental in supporting the “Odyssey” incentivized testnet campaign and fortifying Sonic’s core teams.
Currently, Sonic operates an active testnet that encourages users to participate in various on-chain activities, including transactions and games that will be launched on Sonic’s platform.
Sonic’s founder, Chris Zhu, recognizes the invaluable contribution of Cypher Capital to Sonic’s development and growth. He highlights Cypher Capital’s extensive network within the community and their access to the right resources, which has played a crucial role in bridging the gap between gaming and the Solana network.
As the sole Solana Virtual Machine gaming chain, Cypher Capital assists Sonic in formulating its market entry strategy. Sonic’s infrastructure is built on HyperGrid, a horizontal scaling solution that is anchored to Solana. This unique feature empowers any game to establish its own blockchain rollup and allows for flexible design, thus creating new independent game economies.
Harsh Agarwal, the Investment Lead at Cypher Capital, expresses his delight in supporting Sonic’s development as the first SVM Layer 2 Gaming Chain. He commends Chris Zhu’s expertise and vision and expresses confidence in Sonic’s ability to enable gaming economies on Solana.
With these recent advancements, Sonic is poised to become a prominent player in the intersection of blockchain games. Notably, major investors and participants in the crypto market are closely monitoring Sonic’s progress, as it has demonstrated impressive results on its testnet and is gearing up for the release of its mainnet. These developments indicate a promising trend in the adoption of blockchain gaming on Solana.
