Holograph, an omnichain tokenization protocol that mints NFT assets that can be utilized across multiple chains, announced Monday that it has raised a new strategic round of funding as it expands into the growing blockchain gaming space.
The latest round of funding amounts to $3 million, and was led by Mechanism Capital and Selini Capital. The strategic round pushes Holograph’s total funding to date to $11 million.
Blockchain games typically require networks that are low in fees and high in transaction speed. Some layer-1 networks like Solana and Avalanche fit the bill, as do generalized Ethereum scaling networks like Optimism and Polygon. But increasingly, game studios are opting to build on specialized Ethereum scaling networks, such as Ronin and the Arbitrum-based Xai.
Holograph’s approach, instead, is to let game studios deploy assets across multiple chains with its “omnichain” model, erasing the potential impacts of picking and sticking with one network.
“When building games on-chain, an important question arises: On what chain do you deploy your in-game assets? With Holograph, the answer is simple: deploy on all of them,” Holograph co-founder and Head of Product Jason Trikakis told Decrypt’s GG.
“Limiting in-game assets to a single chain severely reduces a game’s addressable market, as well as creates friction for game developers and players,” he continued. “Going omnichain broadens a game’s distribution and exposure throughout the entire on-chain ecosystem. Furthermore, native composability unlocks new capabilities for in-game items, fostering interoperability between chains, games, and marketplaces.”
The Holograph protocol supports a wide array of Ethereum Virtual Machine (EVM) chains, including the Ethereum mainnet along with Optimism, Arbitrum, Avalanche, BNB Chain, Base, Mantle, Zora, and Linea. The firm has minted more than 10 million omnichain tokens to date across some 1.5 million unique wallets.
“We are thrilled to lead this strategic round for Holograph, a project that stands at the forefront of the omnichain gaming revolution,” said Andrew Kang, Managing Partner at Mechanism Capital, in a statement. “The industry is on the verge of a major transformation, and Holograph’s cutting-edge tech paves the way for an exciting new era in which gamers and developers can harness the power of cross-chain interoperability.”
Editor’s note: This article was written with the assistance of AI. Edited and fact-checked by Andrew Hayward.
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Source: https://decrypt.co/228602/holographomnichain-gaming-nfts-new-funding
