The Good Tech Companies - Sonic SVM's Node Sale on Solana Oversubscribed by 645% Within One Hour

Episode Date: September 20, 2024

This story was originally published on HackerNoon at: https://hackernoon.com/sonic-svms-node-sale-on-solana-oversubscribed-by-645percent-within-one-hour. Sonic SVM, a gaming project built on the Solana blockchain, has announced that its initial node sale raffle was oversubscribed by an impressive 645%. Check more stories related to web3 at: https://hackernoon.com/c/web3. You can also check exclusive content about #web3-gaming, #sonic-svm, #sonic-svm-node-sale, #sonic-svm-node-sale-raffle, #sonic-svm-funding-round, #hyperfuse-node-tier-1, #solana-gaming, #good-company, and more. This story was written by: @ishanpandey. Learn more about this writer by checking @ishanpandey's about page, and for more stories, please visit hackernoon.com. Sonic SVM, a gaming project built on the Solana blockchain, has announced that its initial node sale raffle was oversubscribed by an impressive 645% within just one hour. The project aims to raise $12.8 million through this method, as initially reported by

This audio is presented by Hacker Noon, where anyone can learn anything about any technology. Sonic SVM's Node Sale on Solana Oversubscribed by 645% Within 1 Hour By Ashan Pandey Sonic SVM, a gaming project built on the Solana blockchain, has announced that its initial Node Sale raffle was oversubscribed by an impressive 645% within just one hour, reaching $3 million in commitments. The rapid oversubscription highlights growing investor interest in blockchain gaming projects and novel fundraising methods like node sales. This event marks the first node sale on the Solana

network, setting a precedent for future projects seeking to leverage Solana's high-speed and low-cost infrastructure. Just months after securing a traditional $12 million funding round, Sonic SVM is capitalizing on the momentum by offering nodes through a public sale. The project aims to raise $12.8 million through this method, as initially reported by Coindesk. Node sales are becoming an increasingly popular fundraising mechanism in the blockchain space, allowing participants to support network operations while potentially earning rewards, community engagement and support the overwhelming response to the initial raffle underscore strong community support. Sonic SVM acknowledged the milestone on social media, stating, Hyperfuse Node Tier 1 raffle is heating up. We've hit 645% oversubscription in just one hour,

reaching $3 million. The project encouraged interested parties to join via nodpad.ai, emphasizing the limited availability of tier 1 spots. The public sale of the nodes is through node.sonic.game. Sonic SVM's node sale is notable not just for its fundraising success but also for its collaboration with established Solana native projects. Partnerships with entities like Bonk, Mad Lads, Backpack, MonkDAO, and Solair highlight a strategic effort to integrate deeply within the Solana ecosystem. These collaborations aim to enhance the project's visibility and foster a robust network of supporters and users. What this means for Solana and blockchain gaming The successful oversubscription and upcoming public sale signify a growing appetite for blockchain-based gaming projects.

Solana's scalability and efficiency make it an attractive platform for such initiatives. By being the first to conduct a node sale on Solana, Sonic SVM is paving the way for future projects to explore similar fundraising avenues. Industry analysts note that this could be a tipping point for blockchain gaming on Solana, potentially attracting more developers and investors to the platform. The integration with other Solana projects also suggests a maturing ecosystem where collaboration drives innovation and adoption. Final thoughts Sonic SVM's rapid fundraising success reflects the vibrant interest in blockchain gaming and

the potential of the Solana network. As the public sale approaches, the project's collaborations and community support position it as a notable player in the evolving landscape of decentralized gaming platforms. Don't forget to like and share the story. Tip-vested interest disclosure. This author is an independent contributor publishing via our business blogging program. Hacker Noon has reviewed the report for quality, but the claims herein belong to the author. Hashtag D-Y-O-R. Thank you for listening to this Hacker Noon story, read by Artificial Intelligence. Visit HackerNoon.com to read, write, learn and publish.