Mirror World Labs Secures $12M in Funding to Revolutionize Solana Gaming Ecosystem
Summary:
Mirror World Labs, a Solana-based gaming studio, has raised $12 million in a Series A funding round. The funds will contribute to the development of Sonic, its gaming protocol, helping onboard new developers to Solana's gaming ecosystem. The Sonic protocol focuses on transforming Solana's gaming infrastructure, especially in terms of monentization and enlistment of games. Despite Solana's success in decentralized app market, its gaming sector lags behind, something Mirror World Labs aims to change. The company, founded in 2022, has so far raised a total of $16 million in venture capital funding.
Mirror World Labs, a gaming studio operating on the Solana platform, has secured $12 million in a series A funding round, championed by Bitkraft, Galaxy Interactive, Big Brain Holdings, and others. The raised capital will be channeled toward the further expansion of its gaming consolidation, Sonic. Chris Zhu, Sonic's CEO and founder, affirmed on June 13 that they have collaborated with numerous games in the Web3 gaming domain over the last two years, aiding them in monetizing and enlisting.
The focus of their attention was largely on Solana, offering a comprehensive array of tools and frameworks for game development. Zhu expressed faith in Sonic SVM becoming the unlock tool for the Solana gaming summer, enabling thousands of game launches and market entries with their support.
The newly secured funds are set to hasten the Sonic protocol progression, with components like sandbox settings, tailorable gaming primitives, and extendable data types. Additionally, Sonic aims to bring more developers onto the Solana gaming platform and assist current game makers in making use of the Sonic SVM and HyperGrid Framework. This framework is essentially a rollup deployment toolkit enabling developers to launch new gaming engines and virtual machines within Solana's sphere.
While Solana has seen a surge in popularity in light of the memecoin trend and decentralized app market growth, its gaming side hasn’t experienced the same success. However, developers are hopeful the innovative Sonic protocol can assist game developers in utilizing Solana Virtual Machine (SVM) chains for their GameFi ventures.
First introduced on March 29, the Sonic Protocol has already been distributed to 50 gaming clients as launch distribution nodes. Subsequent to embedding the Mirror World SDK, three games — Mahjong Meta, Matr1x Fire, and Seraph/ActozSoft — have seen over 200,000 traffic and transaction engagements within their gaming sessions.
Established in 2022, Mirror World Labs has been concentrating on generating Solana gaming infrastructure, their attention particularly on every stage of a game's lifecycle like attracting developers, gamers, and technical solutions. In total, the company has raised $16 million venture capital funding.
Related: A word of caution concerning five possible risks when diving into Solana's memecoins.
Published At
6/18/2024 4:00:00 PM
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