Many people may have had moments of confusion like me, thinking that blockchain gaming was over since $AXS, with no Web3 Gaming exploding. But Somnia has the potential to prove otherwise. The project just successfully raised $270 million from major funds like SoftBank, a16z Crypto, MSquared.

So what is Somnia?

Somnia - a Layer 1 designed specifically for gaming and the metaverse, with Multistream Consensus technology allowing each validator to have its own data chain, all synchronized by a common consensus chain.

Why does Somnia attract many large funds?

1. Gaming & Metaverse Ecosystem
Improbable, the parent company of Somnia, has previously collaborated with Meta, Ubisoft, Epic Games, specializing in distributed systems and the metaverse.

MSquared, a fund that has invested in many promising metaverse projects.

In addition, Somnia also has a $10 million development fund for developers, a strategy similar to how Solana attracted developers in its early stages.

2. Advanced Technology & Low Costs

• Extremely fast speed: Theoretically, Somnia can process more than 1.05 million transactions per second, compared to 1,504 TPS of Solana in practice.
• Low cost: Transaction fees are lower than sub-cent, suitable for gaming and large digital economies.
• EVM-compatible: Allows Ethereum developers to easily transition without rewriting code from scratch.

3. Applications of Somnia Network

With high speed, low latency, and low cost, Somnia can be applied in many fields:

Gaming: Supports the development of fully on-chain games, allowing players to own digital assets.
SocialFi: Allows users to control accounts, data, and freely move content between platforms. Metaverse: Builds a virtual world with seamless interaction capabilities.
DeFi: Provides an on-chain order book with transaction matching speed equivalent to CEX.
Web3 Applications: Meets the mass demand with performance equivalent to Web2.

4. Development Team
Somnia is developed by the Virtual Society Foundation, an organization initiated by Improbable and MSquared, leading in building and widely applying the metaverse.

Currently, Somnia has not announced a token release; I will update when there is more information.

#Somnia #Web3Gaming #BlockchainGaming #Gamefi #Kaito