NFTs
Holograph Expands NFT Push for ‘Omnichain’ Gaming with New Funding
Holographyan omnichain tokenization protocol that creates NFT assets that can be utilized across multiple chains, announced on Monday that it has raised a new strategic round of funding as it expands into the growing blockchain gaming space.
The latest round of financing totals US$3 million and was led by Mechanism Capital and Selini Capital. The strategic round brings Holograph’s total funding to date to $11 million.
Blockchain games typically require networks with low fees and high transaction speeds. Some layer 1 networks like Solana It is Avalanche fit the project, as well as generalized Ethereum scaling networks like Optimism and Polygon. But increasingly, game studios are choosing to build specialized Ethereum scaling networks, such as Ronin and the one based on Arbitrum Xai.
Holograph’s approach, instead, is to allow game studios to deploy assets across multiple chains with its “omnichain” model, eliminating the potential impacts of choosing and staying on one network.
“When building on-chain games, an important question arises: on which chain do you deploy your in-game assets? With Holograph, the answer is simple: deploy to them all,” Holograph co-founder and head of product Jason Trikakis told DecryptIt’s GG.
“Limiting game assets to a single chain severely reduces a game’s addressable market as well as creates friction for game developers and players,” he continued. “Adopting omnichain expands a game’s distribution and exposure across the entire on-chain ecosystem. Additionally, native composition capability unlocks new features for in-game items, promoting interoperability across chains, games, and marketplaces.”
The Holograph protocol supports a wide range of Ethereum Virtual Machine (EVM), including the Ethereum mainnet along with Optimism, Arbitrum, Avalanche, BNB Chain, Base, Mantle, Zora, and Linea. The company has minted more than 10 million omnichain tokens to date across around 1.5 million unique wallets.
“We are excited to lead this strategic round for Holograph, a project at the forefront of the omnichain gaming revolution,” said Andrew Kang, managing partner at Mechanism Capital, in a statement. “The industry is on the cusp of a major transformation and Holograph’s cutting-edge technology paves the way for an exciting new era in which gamers and developers can harness the power of cross-chain interoperability.”
Editor’s note: This article was written with the help of AI. Edited and checked by Andrew Hayward.