The Solana blockchain might be getting something new soon: video games.
What’s happening:
- Crypto gaming startup MagicBlock has raised $3M USD in pre-seed funding in a new round led by legendary Silicon Valley venture capital fund a16z
The big idea:
- MagicBlock is building a disruptive gaming engine that enables video games to run completely on the blockchain
- This is made possible by using a piece of proprietary technology MagicBlock developed which temporarily moves Solana’s state to a higher throughput rollup before settling back to the Solana blockchain
- The Solana blockchain is unique for this application as specialized versions of its software already allow for a sequencer to modify accounts before ultimately settling back on Solana
Going deeper:
- Solana has been seeing a surge in new applications, from previously partnering with PayPal (NASDAQ: PYPL) to integrate their stablecoin onto the Solana blockchain for low transaction fees to the highly successful debut of their own mobile phone
- MagicBlock is also planning to leverage their gaming engine to partner with other onchain game developers in an effort to bring more innovation to crypto gaming as well as a more seamless user experience with less lag time during gameplay
The intrigue:
- Brazil also recently announced they have approved their second ever Solana ETF to be publicly listed on the B3 stock exchange
