Holograph, an omnichain tokenization protocol that mints NFT assets that can be used across multiple chains, announced Monday that it has raised a new strategic funding round as it expands into the growing blockchain gaming space.
The latest funding round amounts to $3 million and was led by Mechanism Capital and Selini Capital. The strategic round brings Holograph’s total funding to date to $11 million.
Blockchain games typically require networks with low fees and high transaction speed. Some layer 1 networks such as Solana and Avalanche comply, as do generalized Ethereum scaling networks such as Optimism and Polygon. But increasingly, game studios are choosing to build on specialized Ethereum scaling networks, such as Ronin and the Arbitrum-based Xai.
Holograph’s approach is instead to let game studios deploy assets across multiple chains with its ‘omnichain’ model, erasing the potential consequences of choosing and sticking to one network.
“When building games on-chain, an important question arises: on which chain do you deploy your in-game assets? With Holograph, the answer is simple: deploy them all,” Holograph co-founder and head of product Jason Trikakis said Declutter‘s GG.
“Limiting in-game assets to a single chain severely reduces a game’s addressable market and also creates friction for game developers and players,” he continued. “Going omnichain increases a game’s distribution and exposure across the entire on-chain ecosystem. Additionally, native composability unlocks new possibilities for in-game assets, driving interoperability across chains, games and marketplaces.”
The Holograph protocol supports a wide range of Ethereum Virtual Machine (EVM) chains, including the Ethereum mainnet along with Optimism, Arbitrum, Avalanche, BNB Chain, Base, Mantle, Zora and Linea. The company has minted more than 10 million omnichain tokens in approximately 1.5 million unique wallets to date.
“We are thrilled to lead this strategic round for Holograph, a project at the forefront of the omnichain gaming revolution,” said Andrew Kang, Managing Partner at Mechanism Capital, in a statement. “The industry is on the cusp of a major transformation, and Holograph’s cutting-edge technology is paving the way for an exciting new era where gamers and developers can harness the power of cross-chain interoperability.”
Editor’s note: This article was written with the help of AI. Edited and fact-checked by Andrew Hayward.