XProtocol, a modular entertainment-powered chain utilizing Base's Superchain technology, has successfully raised $800K in a strategic round. This latest funding brings the total raised amount to $5.2M. The round saw participation from notable entities such as Saison Capital, Dragonfly, and zVentures, with new backing from Cogitent Ventures and Zephyrus Capital, both deeply embedded in the web3 entertainment ecosystem.
XProtocol's focus on entertainment, gaming, and AI applications positions it as a significant player in these sectors. It provides scalable infrastructure and a developer-friendly platform that supports partner projects. Its compatibility with the Ethereum Virtual Machine (EVM) simplifies the migration of Ethereum projects and offers robust tools for developers. A standout feature of this announcement is the introduction of Xardian Nodes, which are set to play a crucial role in the decentralization of the XProtocol network. Node operators will be rewarded for their participation in the network's consensus process.
Dragonix, a core contributor to XProtocol, highlighted the importance of Xardian Nodes, stating, "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." This commitment to decentralization is further emphasized by the allocation of 20% of XProtocol's total token supply to node license holders, to be distributed over 36 months following the mainnet launch planned for Q3 2024.
Among XProtocol's partners are Wonderverse, a gaming publishing studio aiming to onboard the next billion gamers into web3, and DestinyX, an entertainment-focused gaming portal and crypto trading superapp. Jason Sujaya, Founder of Wonderverse, expressed enthusiasm about the partnership, stating, "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."
Looking ahead, XProtocol plans to onboard new platforms and projects in the entertainment and gaming sectors later this year. These initiatives aim to broaden the ecosystem, creating more opportunities for developers and users alike. The continuous innovation and expansion of XProtocol's network are set to provide cutting-edge solutions and experiences in the web3 entertainment landscape.
Qin En, Partner at Saison Capital, remarked on XProtocol's potential, saying, "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."
The strategic round raise and the introduction of Xardian Nodes underscore XProtocol's ambition to revolutionize the web3 entertainment and gaming sectors, offering scalable and secure solutions for developers and users.
