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Crypto Gaming Protocol Saga Raises $5 Million in Seed Extension Round, Prepares for Mainnet Launc...

21/11 05:04
Saga, a protocol that aims to assist crypto game developers in launching their own blockchains, has secured a $5 million seed extension round led by Placeholder, a venture capital company. With this investment, Saga's total funding has reached $13.5 million, just ahead of its mainnet launch in January. The protocol's main advantage is scalability, as it allows for the creation of multiple parallel chains, making blockspace theoretically infinite. Saga's team has decided to focus on user acquisition rather than developer grants as a way to test product-market fit. The protocol plans to conduct a token airdrop for participating developers and community members, although requirements will be set high to deter opportunistic speculators. Saga aims to attract developers of high-performance applications, particularly in the gaming industry, and believes that gaming will drive mainstream adoption of crypto. The protocol has already seen strong traction, with nearly 300 projects building on its testnet code-named Pegasus. Read more AI-generated news on: https://app.chaingpt.org/news