Base Superchain XProtocol raises a strategic round, unveils Xardian Nodes
July 01 2024 - 9:54AM
XProtocol, a modular entertainment-powered chain
leveraging Base’s Superchain technology, comes out of stealth by
announcing a strategic round raise of $800K, bringing the total
raised amount to $5.2M. The seed round has previously seen
participation from Saison Capital, Dragonfly, zVentures, with this
strategic round onboarding founders and funds deep in the web3
entertainment ecosystem such as Cogitent Ventures and Zephyrus
Capital.
XProtocol Superchain focuses on entertainment, gaming and
AI applications, providing scalable infrastructure and a
developer-friendly platform to partner projects. Its
compatibility with the Ethereum Virtual Machine (EVM) allows for
straightforward migration of Ethereum projects and robust tools for
developers. XProtocol Nodes, known as Xardian Nodes, will
contribute to the decentralization of the XProtocol network. Node
operators are expected to earn rewards for their participation in
the network's consensus process.
“Xardian Nodes will empower the community as they get exposure
to the project at an early stage and receive multiple rewards from
the partnerships. The design on top of Base blockchain brings a
level of security and distribution that matches our ambition to
improve on-chain adoption and enhancing standards” - said Dragonix,
a core contributor of XProtocol.
XProtocol has earmarked 20% of its token's total supply for node
license holders to distribute over 36 months after Xprotocol’s
mainnet launch, planned in Q3 2024.
Among the protocol partners is Wonderverse, a gaming
publishing studio building multichain IP onboarding the next
billion gamers into web3 and DestinyX, an
entertainment-focused gaming portal and crypto trading
superapp.
“We believe XProtocol's innovative approach with utilizing Base
Superchain technology will greatly enhance the gaming experience
for our users. This partnership marks an important step in our
mission to bring more gamers into the ecosystem,” said Jason
Sujaya, Founder of Wonderverse.
Looking ahead, XProtocol plans to onboard new platforms,
entertainment, and gaming projects later this year, which are yet
to be announced. These forthcoming initiatives aim to broaden the
ecosystem further, creating more opportunities for developers and
users alike. XProtocol's vision is to continually innovate and
expand its network, providing cutting-edge solutions and
experiences in the web3 entertainment landscape.
“XProtocol’s commitment to building a web3 entertainment
infrastructure layer could make it a key player in the space. We
are thrilled to support their vision and contribute to ecosystem
growth,” said Qin En, Partner at Saison Capital.
End
Investors
Saison Capital is a corporate venture capital arm of
Credit Saison, a Tokyo-listed $30BAUM consumer finance company and
one of the largest credit card issuers in Japan. Thefund invests in
Pre-Seed to Series B companies globally.
Dragonfly is a crypto-focused venture capital firm
based in San Francisco that is run bysome of the most prominent VCs
from the US and Asia. Some notable companies in itsportfolio
include Avalanche, Bybit, Cosmos, NEAR, and Maker DAO. The firm
managesU$2B, making it one of the largest venture investment firms
in the crypto market.
Caballeros Capital is an early-stage venture
firm focused on investing in innovative and founder-driven Web3
protocols and companies .
Related links:Official
website: https://www.xprotocol.orgLitepaper: https://docs.xprotocol.org/x-protocol-litepaper
For media inquiries, please contact: press-at-xprotocol.org
August Agostino
Growth
DST Labs Ltd