Sonic, the first atomic Solana Virtual Machine (SVM) chain supporting independent game economies on the Solana network, has achieved a major milestone with its incentivized testnet ‘Odyssey’. This testnet recently reached 100,000 connected wallets. It has also recorded more than 17 million transactions. In this way, it paves the way for the upcoming mainnet launch.
Sonic to Expand Teams Globally with New Cypher Capital Investment
With the backing of Cypher Capital, a $308 million multi-strategy crypto investment firm, Sonic’s latest fundraising efforts plan to strengthen its pre-mainnet ecosystem. The new funds will be allocated to increasingly large development, game-related and marketing teams around the world; supporting ‘Odyssey’, a boosted testnet campaign, and strengthening Sonic’s core teams.
Today, Sonic has an active testnet through which it encourages users to participate in various on-chain operations. These operations include transactions and games that will be launched on Sonic.
Sonic founder Chris Zhu also recognized Cypher Capital as part of Sonic’s development and growth. He pointed out that Cypher Capital, due to its vast connections within the community and access to the right fund, has played a crucial role in bridging gaming to the Solana network.
Cypher Capital helps Sonic enter the Solana market
Cypher Capital is the only Solana Virtual Machine gaming chain helping Sonic develop its market entry plan. Sonic’s infrastructure is based on a horizontal scaling solution called HyperGrid, an end-to-end solution tethered to Solana. This is a great feature because it means that each game can set up its own blockchain combination and be freely designed, creating new independent game economies.
In particular, the Investment Lead at Cypher Capital, named Harsh Agarwal, expressed his joy in supporting Sonic in developing the first SVM Layer 2 Gaming Chain. He praised Chris Zhu’s knowledge and vision. He also expressed confidence in Sonic’s ability to enable gaming economies on Solana.
With these developments, Sonic is poised to become a major company on the cutting edge of blockchain gaming. Major investors and participants in the crypto market are now following Sonic’s developments. Because it showed strong results on its testnet. It’s also set to release its mainnet soon, which could be ongoing signs of trends in blockchain gaming adoption in Solana.