Sonic, Gaming-Focused Layer-2 Chain on Solana, Raises $12M
The Sonic project's Series A round was led by Bitkraft and joined by investors including Galaxy Interactive and Big Brain Holdings.
Jun 18, 2024 at 1:00 p.m. UTC:format(webp)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/LQOBRPS7KFASVIFMNRQ3OA242I.jpeg)
Sonic, a gaming-focused layer-2 blockchain atop Solana, has raised $12 million in a fundraising.
The Series A round was led by Bitkraft and joined by investors including Galaxy Interactive and Big Brain Holdings, according to a press release.
The money will be used for growth initiatives for the Sonic protocol, which comes with "built-in mechanisms designed specifically for game development and execution on Solana, such as a sandbox environment, customizable gaming primitives and extensible data types, all while boasting the fastest on-chain-gaming experience," according to the press release.
The project was built by the two-year-old infrastructure Mirror World Labs, led by CEO Chris Zhu. According to his LinkedIn profile, Zhu received a bachelor's degree from New York University in 2020 and has worked for ByteDance, the parent company of the TikTok, the video-sharing platform.
"We expect the Sonic SVM to become the go-to destination for any gaming studio that wants to build games within the Solana ecosystem,” Justin Swart, principal at BITKRAFT, said in the press release.
The latest fundraising follows an earlier $4 million seed round in 2022, bringing cumulative funds raised to $16 million, according to the press release.
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Bradley Keoun is the managing editor of CoinDesk's Tech & Protocols team. He owns less than $1,000 each of several cryptocurrencies.