XProtocol, a revolutionary blockchain system powered by Base’s advanced Superchain technology, emerges from stealth mode with a significant milestone: securing an $800K strategic round of funding, raising their total investment to $5.2M. This round saw participation from prominent investors like Saison Capital, Dragonfly, zVentures, alongside influential figures and funds deeply integrated within the web3 entertainment landscape such as Cogitent Ventures and Zephyrus Capital.
XProtocol Superchain is tailored for entertainment, gaming, and AI applications, offering scalable infrastructure and a developer-friendly platform for partner projects. Leveraging compatibility with the Ethereum Virtual Machine (EVM), XProtocol simplifies the migration process for Ethereum projects while providing robust developer tools. At the core of its decentralized network are Xardian Nodes, which play a pivotal role in achieving network consensus and decentralization, allowing node operators to earn rewards.
Dragonix, a key contributor to XProtocol, emphasized the significance of Xardian Nodes in empowering early community involvement and rewarding partnerships. He highlighted the enhanced security and distributed nature brought by Base blockchain technology, aligning with their ambition to boost on-chain adoption and elevate standards.
Upon XProtocol’s mainnet launch slated for Q3 2024, 20% of the token supply is allocated for distribution among node license holders over a 36-month period. Notable protocol partners include Wonderverse, a gaming studio focused on multichain IP development aiming to onboard the next billion gamers into web3, and DestinyX, an entertainment-centric gaming portal and crypto trading superapp.
Jason Sujaya, Founder of Wonderverse, expressed optimism about the collaboration, citing XProtocol’s innovative use of Base Superchain technology to enrich user gaming experiences and expand their ecosystem.
Looking forward, XProtocol plans to announce and integrate new platforms, entertainment ventures, and gaming projects later this year, further diversifying their ecosystem and creating new opportunities for developers and users alike. Their overarching vision aims to continuously innovate and expand the network, offering cutting-edge solutions and enriching experiences in the web3 entertainment sector.
Qin En, Partner at Saison Capital, underscored XProtocol’s pivotal role in shaping the web3 entertainment infrastructure layer, affirming their support for the project’s vision and commitment to ecosystem growth.
Investors backing XProtocol include:
– **Saison Capital**: The venture capital arm of Credit Saison, a Tokyo-listed $30B AUM consumer finance giant and one of Japan’s leading credit card issuers, focusing on investments from Pre-Seed to Series B stages globally.
– **Dragonfly**: A San Francisco-based crypto-focused venture capital firm managed by prominent VCs from the US and Asia, managing over $2B and investing in leading crypto projects like Avalanche, Bybit, Cosmos, NEAR, and Maker DAO.
– **Caballeros Capital**: An early-stage venture firm dedicated to backing innovative and founder-driven Web3 protocols and companies.
For more information, visit XProtocol’s [official website](https://www.xprotocol.org) or consult their [litepaper](https://docs.xprotocol.org/x-protocol-litepaper). Media inquiries can be directed to [email protected]