Business News Report
March 29, 2024

Modular Blockchain Sophon Raises $10M Funding from Paper Ventures and Maven11 Amid Veil of Mystery

In Brief

Modular blockchain project Sophon raised $10 million in a funding round led by Paper Ventures and Maven11 to accelerate development efforts.

Modular Blockchain Sophon Raises $10M Funding from Paper Ventures and Maven11 Amid Veil of Mystery

Modular blockchain project Sophon, which describes itself as “mysterious,” disclosed that it raised $10 million in a funding round led by venture capital firms Paper Ventures and Maven11, with additional participation from Spartan, SevenX, OKX Ventures, and Huobi Ventures. With this fresh injection of funds, the project aims to bolster its development efforts.

Sophon is supported by a consortium of prominent investors. Through its strong network, strategic partnerships, and dedicated focus on innovation, the project has garnered significant interest from venture capitalists and angel investors who are backing its enigmatic vision. 

“Our investment in Sophon aligns with our vision to support projects that are not just technologically advanced but also have the potential to make a profound impact on their communities,” said Danish Chaudhry, general partner of Paper Ventures.

Furthermore, key figures from various sectors have been engaging with Sophon to explore potential strategic partnerships. Rumors are circulating about several projects in the gaming and AI sectors that are considering building on Sophon.

According to the official statement from Sophon, the individuals driving the project forward are eager to unveil more information about the project and its partnerships shortly. 

Cryptic Blockchain Sophon Reveals Test Version of Its Game, Gears Up For Token Release To Reward Early Adopters

With nothing more than a few posts on social media platform X being shared, much of the specifics about Sophon remain undisclosed. Moreover, the project’s mysterious profile provides limited information, describing itself as a “modular blockchain powered by [BLANK] and [BLANK] on [BLANK],” suggesting a promising future.

Recently, Sophon introduced a test version of its game, inviting users to participate for a limited duration of two hours. Furthermore, the project unveiled its intention to launch its token to reward the community of early followers.

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About The Author

Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.

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Alisa Davidson
Alisa Davidson

Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.

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