Somnia Ecosystem, Layer 1 blockchain for high-demand on-chain consumer apps, is going to benefit with funds up to $270 million through investments from Improbable and MSquared. The financial investment targets the ongoing expansion of Somnia’s Layer 1 blockchain which powers advanced consumer applications with a focus on gaming scenarios and digital economic systems.
The transaction abilities emerged after Somnia conducted Devnet testing, establishing 1.05 million ERC-20 token transfers per second and 300,000 NFT mints per second. The acquired funds from the investment will help launch the testnet while advancing the development of network infrastructure components. Venture capital support from Improbable illustrates their strong belief that Somnia represents a long-lasting and expandable investment.
Performance Achieved in Devnet Testing
Somnia’s Devnet platform achieved extremely high processing speeds and performance levels making it rank as one of the elite blockchain networks. Key highlights from the testing phase include the ability to handle 1.05 million ERC-20 transactions per second. It also achieved 300,000 NFT mints per second with an average block time of 100 milliseconds. Additionally, it supported 50,000 Uniswap trades per second utilizing 100,000 accounts for real-world simulation.
Acquisitions by Improbable and MSquared qualify Somnia as a promising candidate to transition blockchain technology into mainstream adoption. The funding received will improve the blockchain’s operational abilities while developing its framework. Improbable CEO Herman Narula underscored why digital economies require sustainable infrastructure by describing how his company will help Somnia grow.
According to Paul Thomas who leads the Virtual Society Foundation Devnet achievement demonstrates Somnia’s market potential. The organization is developing their grant program and forming strategic partnerships to build up the ecosystem structure.
Somnia Blockchain Integrates with MSquared’s Metaverse Network
MSquared will integrate the Somnia blockchain into its multiple metaverse systems. This integration will boost the Somnia blockchain’s utility by improving cross-compatibility features and making its virtual ecosystem applications more widespread.
MSquared’s Funding initiative received $150 million from investors, including Andreessen Horowitz and SoftBank Vision Fund 2, which led the company to form this strategic partnership. The successful funding will drive Somnia’s business expansion while supporting its mainstream application adoption efforts to ensure its position as a principal Web3 blockchain infrastructure provider.
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