Somnia Ecosystem, a Layer 1 blockchain designed for high-demand on-chain consumer applications, is set to receive investments totaling up to $270 million from Improbable and MSquared. These financial injections will support the continued growth of Somnia’s Layer 1 blockchain, which powers cutting-edge consumer applications focused on gaming scenarios and digital economic systems.
The decision to invest in Somnia came after successful Devnet testing, where the platform demonstrated the ability to process 1.05 million ERC-20 token transfers per second and mint 300,000 NFTs per second. The funds acquired from this investment will facilitate the launch of the testnet and the further development of network infrastructure components. Improbable’s venture capital support demonstrates their confidence in Somnia’s long-term potential for expansion.
Devnet Testing Performance
Somnia’s Devnet platform achieved impressive processing speeds, ranking it among the top blockchain networks. Key highlights include the capability to handle 1.05 million ERC-20 transactions per second and mint 300,000 NFTs per second, with an average block time of 100 milliseconds. Additionally, it supported 50,000 Uniswap trades per second and utilized 100,000 accounts for real-world simulation.
The investments from Improbable and MSquared position Somnia as a frontrunner in transitioning blockchain technology into mainstream adoption. The funding received will enhance the blockchain’s operational capabilities and further develop its framework. Improbable CEO Herman Narula emphasized the importance of sustainable infrastructure for digital economies and expressed his company’s commitment to supporting Somnia’s growth.
Paul Thomas, leading the Virtual Society Foundation, highlighted the market potential demonstrated by Somnia’s Devnet achievements. The organization is actively developing a grant program and forming strategic partnerships to strengthen the ecosystem structure.
Somnia Blockchain Integration with MSquared’s Metaverse Network
MSquared plans to integrate the Somnia blockchain into its various metaverse systems, enhancing the blockchain’s utility and expanding its virtual ecosystem applications. This integration follows MSquared’s successful funding initiative, which garnered $150 million from investors like Andreessen Horowitz and SoftBank Vision Fund 2, leading to the strategic partnership with Somnia. This funding will drive Somnia’s business expansion and support its efforts to achieve mainstream application adoption, solidifying its position as a leading Web3 blockchain infrastructure provider.
