From Investing.com: 2024-05-08 09:01:34

Blockchain entertainment specialist Sophon raised $60 million in a node sale on zkSync Hyperchain. 200,000 nodes were sold for over $60 million in wrapped ETH, following a $10 million funding round from Paper Ventures and others. Sophon plans to distribute ERC-721 tokens and launch as a Layer 2 validium rollup by Q3 2024.

Sophon is utilizing Matter Labs’ blockchain architecture for its platform. Node license holders will receive benefits like Sophon tokens and network fees. Co-founded by zkSync’s former Head of DeFi and a crypto trader, Sophon aims to revolutionize entertainment with zkSync’s technology, attracting talent from various industries.

To ensure the network is operated efficiently, node licenses not purchased will be destroyed. Sophon also plans a unique airdrop campaign for its $SOPH token, allowing participants to stake assets like $BEAM and $ZENT. The platform is gearing up to launch as a Layer 2 validium rollup in the entertainment sector.

Read more at Investing.com: Sophon raises $60M to launch entertainment-focused zkSync Hyperchain By Investing.com