XProtocol Raises $800K, Introduces Xardian Nodes to Enhance Web3 Entertainment Ecosystem

XProtocol, a modular entertainment-powered chain utilizing Base's Superchain technology, has successfully raised $800,000 in a strategic funding round. This latest investment, which brings the company’s total funding to $5.2 million, was backed by notable names in the web3 entertainment space such as Cogitent Ventures and Zephyrus Capital. Previous investors include Saison Capital, Dragonfly, and zVentures.

Focusing on entertainment, gaming, and AI applications, XProtocol provides scalable infrastructure and a developer-friendly platform for partner projects. The platform's compatibility with the Ethereum Virtual Machine (EVM) facilitates straightforward migration of Ethereum projects, offering robust tools for developers. A key feature of XProtocol is its Xardian Nodes, which will contribute to the decentralization of the network. Node operators are expected to earn rewards for their participation in the network's consensus process.

Dragonix, a core contributor of XProtocol, stated, "Xardian Nodes will empower the community as they get exposure to the project at an early stage and receive multiple rewards from the partnerships. The design on top of Base blockchain brings a level of security and distribution that matches our ambition to improve on-chain adoption and enhancing standards." The protocol has allocated 20% of its token's total supply to be distributed to node license holders over 36 months following the mainnet launch, which is planned for Q3 2024.

XProtocol has already partnered with several innovative entities in the gaming and entertainment sectors. One of these partners is Wonderverse, a gaming publishing studio that is building multichain IP to onboard the next billion gamers into web3. Another partner, DestinyX, is an entertainment-focused gaming portal and crypto trading superapp. Jason Sujaya, Founder of Wonderverse, commented, "We believe XProtocol's innovative approach with utilizing Base Superchain technology will greatly enhance the gaming experience for our users. This partnership marks an important step in our mission to bring more gamers into the ecosystem."

Looking forward, XProtocol plans to onboard new platforms and projects later this year, aiming to broaden its ecosystem and create more opportunities for developers and users. The company envisions continuously innovating and expanding its network to provide cutting-edge solutions and experiences in the web3 entertainment landscape. Qin En, Partner at Saison Capital, expressed confidence in XProtocol's future, stating, "XProtocol's commitment to building a web3 entertainment infrastructure layer could make it a key player in the space. We are thrilled to support their vision and contribute to ecosystem growth."