Saakuru Labs has secured $2.4 million in a recent investment round to bolster the growth and implementation of its Saakuru Protocol. This endeavor focuses on improving the scalability and efficiency of blockchain technology in the GameFi industry.
The oversubscribed investment round signifies robust investor interest and aims to facilitate the widespread implementation of the protocol.
The Saakuru Protocol, functioning as a Layer 2 (L2) solution, now accommodates more than 430,000 wallets on its mainnet. The daily transaction volume surpasses 200,000.
Saakuru is now ranked the fourth most active L2 solution in the blockchain industry. The significant transaction volume and the high number of active wallets demonstrate the protocol’s increasing importance and the level of confidence it has gained from users.
The injection of funds comes when the Saakuru ecosystem is positioned for substantial expansion, with over 40 projects anticipated to be initiated in 2024. One planned initiative is PlayGround, a gaming platform built by Worlds Beyond, which is expected to attract many users.
In addition, the ecosystem will see the launch of games such as Crypto Run, produced by Made by Apes, and Soccer Sage, a soccer betting game designed to appeal to a worldwide audience. Worlds Beyond, which has served as both a donor and a beneficiary of this investment round, intends to release three more games later this year, adding to the wide range of offers enabled by the Saakuru Protocol.
The primary investors in this funding round were Based VC and ARC Community, accompanied by a group of investors with a focus on blockchain technology, including Kyber Network, PG Capital, Wizard Capital, Decubate Ventures, Oracles Investment Group, BCW Ventures, Steady Stack, W3GG, Calib3r, Rarible, Worlds Beyond, Uptrend Digital, Arclight Studio, and IBC Group.
The extensive backing from these businesses highlights a firm conviction in the protocol’s capacity to redefine the future of decentralized finance (DeFi) and enhance blockchain scalability.
The investment round also garnered the interest of notable angel investors, including Gorkem Bereket from Mezo, blockchain instructor Ivan on Tech, esports personality Marcus “Revenant” Tan, and others.
These people provide financial resources and their specialized knowledge, networks, and industry insights, which are very useful for the strategic growth of Saakuru Labs.
The primary objective of this capital raising is to promote the broader implementation of the Saakuru Protocol and to provide a strong basis for its future advancement.
Saakuru Labs aims to establish a robust and vibrant ecosystem by including a wide range of stakeholders, institutional supporters and influential figures in the sector. This strategy emphasizes the company’s dedication to innovation, inclusiveness, and cooperation in the ever-changing field of blockchain technology.
Saakuru Labs’ consumer-centric approach is shown by their L2 Protocol, which completely removes transaction costs, making it especially accessible for those new to Web3. The Saakuru Developer Suite enables the rapid integration of intricate digital goods into Web3 settings, usually within one day. This suite is essential for developers looking for a cost-effective and smooth connection between conventional web environments (Web2) and systems based on blockchain technology (Web3).
In addition, the protocol’s exceptionally quick block time allows developers to implement real-time, on-chain applications like massively multiplayer online role-playing games (MMORPGs). This improves the user experience by providing an authentic multiplayer experience without the usual latency problems in other blockchain solutions.
The Saakuru Protocol has the benefit of eliminating gas prices, which are a substantial financial obstacle for users. This removal of fees encourages wider acceptance and involvement in the blockchain industry.
The financing has important ramifications for the blockchain industry, namely in terms of scaling and improving the efficiency of blockchain systems. The Saakuru Protocol’s emphasis on GameFi and its capacity to attract substantial investment exemplifies the rising convergence of gaming and blockchain technology, a trend projected to persist and expand.
As blockchain technology becomes more integrated into many industries, solutions such as Saakuru, which provide scalability and user-friendly interfaces, are expected to play crucial roles in the widespread adoption of this technology.
Moreover, the ongoing progress and intended growth of the Saakuru ecosystem via diverse gaming initiatives might provide a model for using blockchain technology to generate captivating and groundbreaking user interactions.
The success and growth of the Saakuru Protocol is especially notable in the larger tech scene since it has consequences not only for the gaming business but also opens up possibilities in other industries, such as digital collectibles, sports betting, and interactive entertainment.