Saakuru Labs Secures $2.4 Million in Funding to Fuel the Adoption of the Saakuru Protocol

Singapore, Singapore, April 16th, 2024, Chainwire

In a significant move towards expanding its reach and capabilities, Saakuru Labs has successfully raised $2.4 million in an oversubscribed private funding round. This infusion of capital is earmarked for accelerating the adoption of the Saakuru Protocol, which has shown remarkable growth and traction in the GameFi sector.

The Saakuru Protocol, known for its innovative approach to blockchain scalability and efficiency, has already made a mark with over 430,000 wallets holding assets on its mainnet. Its daily transaction volume has surged to over 200,000, positioning Saakuru as the fourth most active Layer 2 (L2) solution in the blockchain space. This level of activity underscores the protocol's rising importance and the growing trust in its stability and performance among users.

This year, the ecosystem surrounding the Saakuru Protocol is set to expand significantly, with over 40 projects slated to go live in 2024. Among these is PlayGround, the flagship gaming platform developed by Worlds Beyond, which is expected to attract considerable attention. Additionally, the gaming landscape will be enriched with titles such as Crypto Run, a Made by Apes game, and Soccer Sage, a soccer betting game that promises to engage fans around the world. Worlds Beyond, a key player in the gaming sector and a participant in this funding round, has announced plans to launch three more games later this year, further contributing to the ecosystem fostered by the Saakuru Protocol.

Leading the funding round is Based VC and ARC Community, showing strong confidence in Saakuru Labs' vision and the technical prowess of the Saakuru Protocol. They are joined by a consortium of notable investors from across the blockchain ecosystem, 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. This diverse group of backers highlights the wide-ranging support and belief in the protocol's potential to reshape the future of DeFi and blockchain scalability.

Adding to the lineup of institutional investors are several high-profile angel investors. These include Gorkem Bereket, the growth lead at Mezo; Ivan on Tech, a renowned blockchain educator and influencer; Marcus "Revenant" Tan, a prominent figure in the esports industry; Dingaling; Sharon Lourdes Paul, the founder of HQ; Artem Sergeev, the founder of Forked; Broderick Sim, the growth lead at Pixelmon; Irene Umar, the co-founder and CEO of W3GG; David Johansson, the CEO and creative director of Blocklords; Harrison Goldsmith, the founder of Owl Protocol; 0xAndy.eth, the core team member of BAYC Taiwan; and Pep Ruckpanich, the EIR at 100X. Their involvement not only brings financial support, but also a wealth of knowledge, connections, and expertise to the table, which is invaluable for Saakuru Labs' growth and expansion.

The strategic goal behind this round of funding is to widen the adoption of the Saakuru Protocol and to lay a solid foundation for its future development. By engaging a broad spectrum of stakeholders—from institutional backers to key industry influencers—Saakuru Labs aims to foster a robust and vibrant ecosystem around its protocol. This community-driven approach is a testament to the company's commitment to not just innovation, but also inclusivity and collaboration in the ever-evolving world of blockchain technology.

h2 About Saakuru Labs/h2 Saakuru is a consumer-centric L2 Protocol with Zero Transaction Fees enhanced with Saakuru Developer Suite that enables embedding complex digital products to Web3 in 1 day. The powerful and developer-friendly product suite centered around the Saakuru blockchain allows cost-efficient and seamless connectivity from Web2 to Web3.

Saakuru's ultra-fast block time allows developers to seamlessly run on-chain applications, like MMORPG games, delivering an authentic multiplayer experience. Furthermore, it enhances the user experience by entirely removing gas fees, making it especially user-friendly for those new to Web3.

Learn more about Saakuru Labs here.

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ContactCo-Founder & CEOJack Vinijtrongjitjack@saakuru.com

This article was originally published on Chainwire