Crypto Gaming Protocol Saga has secured $5 million in funding and is preparing for its mainnet launch and token airdrop.
The Web3 company has raised $5 million in a seed expansion round to provide unique scalability through ‘chainlet’ functionality and optional token airdrops for the community.
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Saga, a cryptocurrency gaming protocol, has secured $5 million in its seed expansion round. The funding, led by VC firm Placeholder, brings Saga’s total funding to a whopping $13.5 million. The company is preparing for a large-scale event: mainnet launch in January.
Co-founded by CEO Rebecca Liao, Saga offers a unique solution in the cryptocurrency world. It helps game developers launch their own blockchains, providing innovative approaches to scalability. Liao explains that Saga’s block space is essentially infinite. Developers can create multiple chains simultaneously, similar to how cloud infrastructure works.
The timing of raising this funding is important. This comes as the cryptocurrency market is showing signs of recovery after a period of decline. Liao expects the number of users to increase following the mainnet launch. She believes this will demonstrate the effectiveness of Saga’s technology. Interestingly, Saga has chosen a different path than other platforms. Instead of providing developer grants, we focus on supporting user acquisition projects. According to Liao, this is a more accurate test of market fit.
In addition to developer support, Saga is planning a token airdrop. The move aims to reward those who participate in the testnet and later in the wider community. However, to prevent speculative practices, participation criteria will be applied selectively.
Unlike common blockchains such as Ethereum and Solana, Saga allows the creation of parallel chains, or ‘chainlets’, for each application. This architecture, already used in Polygon ‘supernets’ and Avalanche ‘subnets’, significantly improves scalability. Liao points out that single-chain systems will eventually face block space limitations. Therefore, adding a new chain is essential.
This scalability is especially attractive for demanding apps such as blockchain games. Saga already has around 300 projects in development on the Pegasus testnet, indicating high interest from developers. The platform initially focused on gaming, but its goals are broader. Liao envisions Saga as a general infrastructure platform for dApps.
Liao also highlights the importance of mobile games in infrastructure testing. Mobile games, with their constant updates, high transaction volume, and performance requirements, are an important focus for Saga. By solving these challenges, Saga aims to pioneer mainstream cryptocurrency adoption by leveraging the changing dynamics of traditional games.
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