Holograph, a full-chain NFT protocol, has revealed its token economics alongside the completion of a new strategic financing round.
Meanwhile, the protocol, known for its omnichain tokenization capabilities, continues to expand its influence and technological advancements in the blockchain industry.
Holograph introduced its native token, HLG, which was designed for seamless transfer across different blockchain networks. The HLG token boasts complete data persistence, trustworthy neutrality, and minimized cross-chain bridge risk, reinforcing its robust infrastructure. The total supply of HLG is capped at 10 billion tokens, with an initial circulation of 1.525 billion, accounting for 15.25% of the total supply.
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The distribution of the HLG tokens is strategically planned to support various aspects of the Holograph ecosystem. 25% of the tokens are allocated to the ecosystem and incubator, facilitating the growth and development of new projects within the network. The core development team receives 23.4%, ensuring sustained innovation and enhancement of the protocol. Strategic network participants are allocated 21.18%, reflecting the importance of partnerships and collaborations in expanding Holograph’s reach.
Additionally, 15% is reserved for the foundation treasury, 10% for community and launch initiatives, and 5.42% for long-term consulting advisors. The release of HLG tokens is scheduled over 48 months.
Successful Completion of New Funding Round
In a recent report, on April 30, Holograph secured $3 million in a new strategic financing round. This round was led by Mechanism Capital and Selini Capital, with additional investments from Northrock Capital, Arca, Courtside Ventures, and Hartmann Capital. This latest round brings Holograph’s total funding to $11 million.
Andrew Kang, the managing partner at Mechanism Capital, expressed enthusiasm for supporting Holograph’s vision for omnichain gaming. He highlighted the protocol’s potential to transform the gaming landscape through cross-chain interoperability.
Jordi Alexander, founder of Selini Capital, echoed these sentiments, emphasizing the significance of cross-chain asset production and distribution. Alexander pointed out that Holograph’s ability to facilitate seamless asset transfer across multiple chains presents new opportunities for both users and developers.
Advancements in Omnichain Technology
Holograph’s protocol enables game developers to tokenize assets on multiple chains, maintaining consistent token addresses across all networks. This feature simplifies asset management for developers and enhances the gaming experience for players. By streamlining the deployment process, Holograph allows developers to quickly deploy on new chains, promoting asset interoperability between games and NFT marketplaces. This fosters liquidity and encourages collaboration across various gaming platforms.
Since launching its mainnet in 2023, Holograph has facilitated the minting of over 10 million omnichain tokens by 1.5 million unique wallets. The protocol has also enabled more than 2 million cross-chain transactions, leveraging LayerZero’s cross-chain messaging protocol. This significant usage highlights the growing adoption of Holograph technology and its impact on the blockchain and gaming industries.
Jeremy Kerbel, Co-Founder and CEO of Holograph expressed gratitude for the support from lead investors and strategic partners. Kerbel emphasized that the recent funding round validates Holograph’s vision and commitment to enhancing the gaming industry with omnichain technology. The company aims to create more immersive and interconnected experiences for players, leveraging the capabilities of its innovative protocol.
Holograph supports multiple EVM chains, including Ethereum, Polygon, Optimism, Base, Zora, Arbitrum, Mantle, BNB Chain, Avalanche, and Linea.
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