Sonic, a Layer 2 gaming network built on Solana, has secured $12 million in a Series A funding round led by Bitkraft Ventures. The funding round, which began in April 2024 and concluded in June, also saw participation from Galaxy Interactive and Big Brain Holdings.
This new capital brings Sonic’s total funding to $16 million. CEO Chris Zhu detailed that the funding was structured as a SAFE with token warrants, offering investment flexibility. Sonic’s fully diluted token valuation now stands at $100 million, signaling strong investor confidence.
Originally a mobile game, Sonic shifted to creating comprehensive gaming infrastructure on Solana. The mainnet and token launch are scheduled for Q3 2024, aiming to attract developers through grants and accelerators. By leveraging Solana’s high-performance blockchain, Sonic promises a seamless and cost-effective gaming experience.
Sonic’s success highlights the growing interest in blockchain-based gaming solutions. This funding round marks a pivotal moment for both Sonic and the broader blockchain gaming industry, potentially influencing future market trends and investment strategies.
