September 17, 2024
MagicBlock’s Ephemeral Rollups technology aims to deliver web2-level performance for Solana developers, facilitating the development of trustless and unstoppable games and applications on the Solana blockchain. The company has raised $3 million in pre-seed funding to enhance its engine for real-time on-chain games and consumer applications on Solana. MagicBlock participated in the Spring 2024 cohort of the a16z Crypto Startup Accelerator (CSX) program and received funding from a16z CSX during this period.
Project | Latest Raise | Latest Raise Date | Stage | Lead Investor | Category |
|---|---|---|---|---|---|
MagicBlock | $3M | September 17, 2024 | Pre-Seed Round | a16z | Gaming, Web3 |
MagicBlock’s innovative method allows developers to build unstoppable, trustless, and composable applications that function without traditional servers, eliminating the issue of transaction delays. This funding represents a major milestone for MagicBlock. With the new capital, the company plans to grow its team, enhance developer engagement, and advance its technology. This funding round highlights the increasing demand for fully decentralized, high-performance applications in the web3 sector.
About MagicBlock
MagicBlock is a platform designed to help developers create high-performance, decentralized games and applications on the Solana blockchain. It uses innovative technology to ensure that these applications run smoothly and efficiently, without the delays often associated with blockchain transactions. MagicBlock provides an all-in-one stack that includes everything from smart contract frameworks to engine SDKs, making it easier for developers to build and scale their projects. The platform is open-source, promoting community involvement and collaboration.
Website: https://www.magicblock.gg/
About Investor
Investor: a16z crypto
a16z Crypto is a venture capital fund that invests in crypto and web3 startups. It is part of Andreessen Horowitz and has been investing in this space since 2013. The fund supports entrepreneurs building the next generation of the internet, focusing on blockchain and digital assets. They manage over $7.6 billion across four funds.
Location: Menlo Park, CA
Website: https://a16zcrypto.com/
A central focus of investor activity in the cryptocurrency space is the evaluation of new crypto projects to invest in, particularly those with huge potential. This blog provides insight into what new ventures are benefiting from venture capital support (VC funding in crypto). These new crypto projects, funded by professional investors, can dictate the next narrative in crypto and the next big crypto movers.
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