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Sophon Raises $60 Million to Launch Investing.com Entertainment-Focused zkSync Hyperchain
Blockchain entertainment specialist Sophon has raised $60 million in a node sale hosted by the zkSync Hyperchain platform, less than a week after the auction began.
The sale involved 200,000 nodes and raised over $60 million in wraps (wETH). This was preceded by a $10 million funding round led by Paper Ventures and Maven 11, with additional investments from Spartan, SevenX and OKX Ventures.
Sophon uses modular blockchain architecture built by Matter Labs, which develops zk-rollup solutions for the Ethereum Layer 2 ecosystem.
Despite the sale of 121,000 nodes, Sophon clarifies that not all buyers will act as validators. Instead, they will receive ERC-721 tokens, which offer numerous benefits. These include the acquisition of Sophon tokens, with 20% of the total supply distributed to node license holders within the first 36 months after launch.
Additionally, buyers can participate in network validation and earn a share of network fees when Sophon launches in Q3 2024 as a Layer 2 Validum rollup.
“I know the product inside out compared to other stacks on the market. It’s about building for tomorrow rather than yesterday, and I’m convinced that in a few years, looking back at the design and infrastructure choices made by Matter Labs, it will seem obvious. I will continue to work closely with the amazing team at Matter Labs,” said Sophon.
Node license holders will also play a role in chain indexing or lightweight node operation, with future plans for a decentralized consensus model requiring these licenses for network operation. Unpurchased or unused licenses at the end of the sale will be destroyed to ensure they do not enter circulation.
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Additionally, Sophon is planning a unique airdrop campaign to widely distribute its $SOPH token. Participants can stake assets such as $BEAM from the Beam network and $ZENT from Zentry, with additional assets to be announced.
Co-founded by Sebastien, former head of DeFi at zkSync, and cryptocurrency trader Pentoshi, Sophon is an entertainment-focused ecosystem that uses zkSync’s hyperchain technology. The platform leverages zkSync’s native account abstraction and other features to improve user experience and attract talent in AI, gaming and entertainment.