[PRESS RELEASE – Dubai, UAE, June 30th, 2024]
Sonic, the first atomic SVM chain enabling sovereign game economies on Solana, hit a significant milestone with its recently launched incentivized testnet “Odyssey,” reaching 100,000 connected wallets and over 17 million transactions in the buildup to a mainnet launch.
Backed by Cypher Capital, a multi-strategy crypto investment firm, Sonic’s latest fundraise allows it to expand its ecosystem in the leadup to the mainnet launch and support growth, expanding its core development, game relations, and marketing teams globally. Currently, Sonic’s active testnet invites users to engage in a variety of on-chain activities, such as sending transactions and playing games to debut on Sonic.
“Cypher Capital has been a great partner in helping us expand our ecosystem into new territories,” said Chris Zhu, Founder of Sonic. “With a wide community network and critical connections to relevant funds, together we are bringing gaming to Solana.”
As the only Solana Virtual Machine gaming chain, Cypher is supporting Sonic’s go-to-market strategy. Built with a horizontal scaling framework called HyperGrid, a rollup framework that settles on Solana, Sonic allows any game to launch their own blockchain rollup, unlocking customizability in designing new sovereign game economies.
“We are excited to support Sonic in building the first SVM L2 Gaming Chain, designed to expand the Solana Gaming Ecosystem,” said Harsh Agarwal, Investment Lead at Cypher Capital. “Chris possesses exceptional knowledge and insight as a founder and we are very confident in his vision of enabling gaming economies on Solana.”
About Sonic
Sonic is the first atomic SVM chain built to enable sovereign game economies on Solana. Sonic enables sovereign game economies that rollup and settle on Solana. Built on top of the first concurrent scaling framework for Solana, called HyperGrid, Sonic is the first to bring a Grid orchestrated by such a framework.
About Cypher Capital
Cypher Capital is a leading early-strategy venture firm focused on investing in Web3 infrastructure and applications that will drive the new digital economy. Guided by environmental, social, and governance for every investment decision, Cypher is shaping the future of digital currency, public markets, and Web3.
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