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Sonic SVM and Galaxy Interactive launch multi-million dollar Fund for Web3 gaming and AI.
Sonic, a Solana layer-2 blockchain, and venture investment firm Galaxy Interactive have announced a new fund aimed at advancing Web3 gaming and other emerging cryptocurrency sectors. This announcement comes as interest in artificial intelligence agents is on the rise.
Sonic, the first gaming-focused Solana Virtual Machine (SVM) L2 network, unveiled G.A.M.E. (Game, AI, Meme, Ecosystem) Fund 1 to accelerate the development of Web3 games, AI agents, and social media content creation tools on HyperGrid.
The fund will offer up to $1 million in support per project, with no limit on the number of accelerator participants.
Additionally, the fund will provide technical and infrastructure support, marketing and user acquisition assistance, and integration with Sonic’s TikTok Applayer, which now has over 2 million users.
According to Sam Englebardt, founding general partner at Galaxy Interactive, Sonic could bridge the gap between traditional Web2 and Web3 gaming worlds:
“This fund represents our commitment to backing visionary teams who are building the future of interactive entertainment, leveraging AI and social platforms in novel ways.”
The fund has made its first investment in Gomble Games, a Binance Labs and Animoca Brands-backed protocol transforming traditional Web2 games into Web3.
Gomble Games has reported over 110 million unique users worldwide across 230 games, after becoming the most downloaded mobile game app in South Korea in 2023.
SONIC/USD, All-Time Chart
The announcement follows the Sonic SVM (SONIC) token generation event on January 7, where the token reached a market cap of $365 million within the first 24 hours, according to CoinMarketCap data.
Chris Zhu, founder and CEO of Sonic SVM, stated that Web3 gaming adoption will be driven by AI agents through infinite virtual experiences.
Zhu: “We can see AI creating massive interfaces for humans to interact with the digital and real worlds. Sonic is focused on helping teams build towards infinite, asset-driven gaming experiences powered by AI.”
Multimodal AI agents, capable of interacting across social media platforms like X and TikTok, represent the greatest growth potential.
Zhu: “As agent creation and interaction become more sophisticated, there is a direct link between these agents’ social influence and economic value, and Sonic is at the perfect intersection for that.”
Interest in AI agents surged after Luna, an AI agent on Virtuals Protocol, executed an autonomous transaction with another AI agent on the blockchain on January 2, according to reports.
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