Sophon Raises $60M in zkSync Node Sale for Blockchain Entertainment Ecosystem

Blockchain entertainment platform Sophon has raised $60 million through a node sale on the zkSync platform, driven by the benefits offered to node license holders such as acquiring Sophon tokens, network validation, and indexing roles. The sale, which saw the purchase of 200,000 nodes, was preceded by a $10 million funding round, and Sophon aims to distribute its $SOPH token through a unique airdrop campaign and leverage zkSync's technology for its entertainment-focused ecosystem.

Sophon Nets $60 Million in Node Sale on zkSync Hyperchain

Blockchain entertainment specialist Sophon has successfully concluded a node sale hosted by the zkSync Hyperchain platform, raising a substantial $60 million in less than a week. The sale saw the auctioning of 200,000 nodes and attracted investments in wrapped Ethereum (wETH) worth over $60 million.

This node sale follows an initial $10 million funding round led by Paper Ventures and Maven 11, with additional investments from renowned crypto venture capital firms such as Spartan, SevenX, and OKX Ventures. Sophon leverages the modular blockchain architecture developed by Matter Labs, a leading provider of zk-rollup solutions for the Ethereum Layer 2 ecosystem.

Highlighting the unique nature of the node sale, Sophon emphasized that not all node purchasers will serve as validators. Instead, they will receive ERC-721 tokens that confer multiple benefits. These benefits include the allocation of Sophon tokens, with 20% of the total supply to be distributed to node license holders within 36 months of launch.

Additionally, node license holders will participate in network validation and share a portion of the network fees upon Sophon's anticipated Q3 2024 launch as a Layer 2 validium rollup. This decentralized consensus model will require these licenses for network operation.

Commenting on the platform's technical capabilities, Sophon stated, "I have an in-depth understanding of the product compared to other offerings in the market. Our focus is on building for the future rather than the past. I am confident that the design and infrastructure choices made by Matter Labs will be evident in the years to come. I will continue to collaborate closely with their exceptional team."

Furthermore, Sophon plans to implement novel decentralized governance mechanisms. Node license holders will play pivotal roles in indexing the blockchain or operating light nodes. Unused licenses at the end of the sale will be destroyed to maintain the integrity of the network.

To broaden the distribution of its $SOPH token, Sophon will initiate a unique airdrop campaign. Participants can stake assets such as $BEAM from the Beam network and $ZENT from Zentry, with more supported assets to be announced in the future.

Co-founded by Sebastien, former Head of DeFi at zkSync, and renowned crypto trader Pentoshi, Sophon is a blockchain entertainment ecosystem built on zkSync's hyperchain technology. The platform harnesses zkSync's account abstraction and other features to enhance user experience and attract top talent in the fields of artificial intelligence, gaming, and entertainment.

Sophon's latest funding success marks a significant milestone in its mission to revolutionize blockchain entertainment. The company's strategic partnership with Matter Labs and the support of prominent venture capital firms underscore the industry's confidence in Sophon's innovative approach and ambitious vision.

As the blockchain entertainment landscape evolves, Sophon is poised to emerge as a dominant player, harnessing the latest technological advancements to create a secure, scalable, and user-centric ecosystem that will drive the future of digital entertainment.