Venture capital firm Paradigm led the raise
The capital will go toward staff expansion and marketing, co-founder and CEO Trevor Bacon told Blockworks
The platform can be used to send and receive money for investments, payments and subscriptions
This is Solana’s second gaming-focused investment after joining forces with FTX and Lightspeed Venture Partners last month to create a $100 million Web3 gaming investment initiative
The initiative will help advance and develop new decentralized models for gaming as well as the tools developers need to build, Solana Ventures told Blockworks.