Saga, a protocol designed to help Web3 game developers launch their own blockchains, has announced a $5 million seed extension round backed by venture capital firm Placeholder. This brings Saga’s total funding to $13.5 million, and comes just months before Saga launches its mainnet in January. The main appeal of Saga is its scalability, allowing for developers to spin up as many chains as they like in parallel. Saga is planning a token airdrop for participating testnet developers and later for community members. Saga is also designed to launch customizable parallel chains called “chainlets” for each application, which can be used by protocols like Polygon “supernets” and Avalanche “subnets.” The company currently has nearly 300 projects building on its testnet code-named Pegasus, and hopes to be a “general infrastructure platform” capable of serving many types of decentralized applications. The main focus at the moment is mobile gaming. This investment round is positive news for the crypto market, as it could be a sign of a thaw following a year of price declines. #Saga #Web3 #VentureCapital #Placeholder #Crypto
You can read more about this topic here: Decrypt: Web3 Gaming Protocol Saga Raises $5 Million Ahead of Mainnet Launch, Community Airdrop
