Somnia to Secure $270M Backing from Improbable & MSquared to Boost Ecosystem
The post Somnia to Secure $270M Backing from Improbable & MSquared to Boost Ecosystem appeared on BitcoinEthereumNews.com.
Improbable’s further investment in the Somnia ecosystem is intended to boost its expansion. This follows the successful completion of the Somnia Devnet, which established new standards for speed, throughput, and user involvement. Somnia, a Layer 1 blockchain built for fully onchain, high-demand consumer apps, has revealed that Improbable and MSquared would contribute up to $270M in combined capital to its ecosystem. As Somnia prepares for the launch of its testnet, the venture builder Improbable’s strategic backing is a welcome boost. Following the successful completion of the Somnia Devnet, which established new standards for speed, throughput, and user involvement, Improbable began supporting Somnia. Among the highlights were: ● 1.05 million transactions per second for ERC-20 token transfers● 300,000 NFT mints per second with an average block time of 100 milliseconds● 50,000 Uniswap trades per second, leveraging 100,000 accounts to simulate real-worldusage Improbable’s choice to prioritize the Somnia ecosystem as part of its venture builder capital allocation indicates the company’s belief in the blockchain ecosystem that Somnia is developing and its ability to generate widespread Web3 adoption. Gaming is one of the use cases for Somnia’s high-performance chain because of its architecture, which enables scalable, real-time onchain games. Improbable CEO Herman Narula said: “The future of digital economies depends on infrastructure that can handle real-world scale – far beyond what most blockchains today can achieve. We’ve spent over a decade solving complex distributed systems challenges, and that expertise is what gives the Somnia blockchain its spark. This is a gigachain we’re building, for speed, efficiency, and real utility, and we’re fully committed to supporting the ecosystem that will bring it to life.” Paul Thomas, Founder of the Virtual Society Foundation stated: “The performance of the Devnet gives us great confidence in what’s ahead for Somnia. We’re refining our grant program and have several partnerships in the works…
Filed under: News - @ February 18, 2025 8:21 pm