Gaming-focused Ethereum L2 HYCHAIN has raised over $8 million through a node sale. This sale not only underscores the community’s overwhelming support but also introduces a new model for engagement and rewards within the blockchain space.
HYCHAIN’s approach empowers its users by allowing them to contribute directly to the network’s security and functionality. Participants can operate nodes, thereby securing the network and in return, they are rewarded from a pool of 250 million $TOPIA tokens. Additionally, they receive 25% of the transaction fees, creating a sustainable model for ongoing rewards.
Within 2 days of the node sale announcement, HYCHAIN generated 2,098 ETH (equivalent to $8 million at the time of the sale), as mentioned in a statement shared with AlexaBlockchain.
Out of this, $1 million was distributed among creators through a unique system where community members used creator codes at checkout to receive discounts and share revenue with creators.
This initiative not only funded the platform but also demonstrated the potential of decentralized finance mechanisms to support and grow gaming communities.
ArkDev, Co-founder of HYCHAIN, mentioned that these milestones indicated community’s desire for a new permissionless L2 blockchain tailored for frictionless Web3 game publishing.
Adding to HYCHAIN’s momentum, Magic Eden, a leading digital collectible marketplace, has partnered with HYCHAIN to allow payments in $TOPIA tokens for Ethereum NFTs, alongside other leading digital currencies. This partnership signifies the growing acceptance and utility of $TOPIA tokens within the broader digital ecosystem.
The successful node sale also marked the launch of HYCHAIN’s mainnet on March 9, enabling a range of functionalities including transactions, contract deployments, and the establishment of new systems. This was complemented by the introduction of additional features such as a block explorer and bridges for interoperability with Ethereum L1 and Polygon networks.
HYCHAIN’s foundation lies in its team’s extensive experience in developing blockchain solutions for gaming, aiming to solve the onboarding and technical hurdles that have hindered blockchain games’ mass adoption.
The platform’s strategic initiatives include MetaFab, a chain-agnostic solution for game development, and HYTOPIA, a first-party title set to redefine blockchain-enabled gaming experiences.
With more than 1.2 million players already pre-registered for HYTOPIA’s closed beta in April, HYCHAIN is addressing the void left by platforms like Minecraft, which have faced criticism for restrictive monetization and creator ecosystems.
HYTOPIA aims to offer a more open and flexible environment for creators, with features that promise to elevate gaming and content creation to new heights.
Read Also: Illuvium Raises $12M as 1 Million Fans Await its Gaming Universe