Somnia, a high-speed Layer 1 blockchain built for on-chain consumer applications, recently announced that it will benefit from up to $270 million combined capital from Improbable and MSquared (M²). This development arrives at a crucial moment, with Somnia ready to launch its testnet and demonstrate its potential for mainstream Web3 adoption.

Somnia Devnet Performance

During its Devnet phase, Somnia set some serious performance milestones. The platform recorded 1.05 million ERC-20 token transfers per second and managed 300,000 NFT mints per second at around 100 milliseconds per block.

The Devnet also handled 50,000 Uniswap trades per second. To simulate realistic conditions, Somnia leveraged 100,000 user accounts for these trades, highlighting how the technology can handle large-scale applications.

Source Somnia

Improbable's Backing Reflects Confidence

Improbable's venture builder investment in Somnia shows real confidence in the Somnia blockchain and its ability to bring Web3 to more people, including the huge potential to power real-time, scalable onchain games.

Herman Narula, CEO of Improbable, believes the future of digital economies hinges on infrastructure that can handle real-world scale.

According to Narula, "The future of digital economies depends on infrastructure that can handle real-world scale – far beyond what most blockchains today can achieve. We've spent over a decade solving complex distributed systems challenges, and that expertise is what gives the Somnia blockchain its spark. This is a gigachain we're building, for speed, efficiency, and real utility, and we're fully committed to supporting the ecosystem that will bring it to life."

Paul Thomas, Founder of the Virtual Society Foundation, also expressed his thoughts following the Devnet results, saying, "The performance of the Devnet gives us great confidence in what's ahead for Somnia. We're refining our grant program and have several partnerships in the works to further strengthen the ecosystem."

Multi-Stream Consensus for Sub-Second Finality

MSquared (M²) has also announced plans to integrate Somnia's blockchain into its network of metaverses. This move could position Somnia as the backbone for real-time, on-chain interactions in immersive virtual worlds.

One of the big reasons Somnia stands out is its multi-stream consensus mechanism, which aims to bring lightning-fast block finality (over 1,000,000 transactions per second) to an environment already compatible with the Ethereum Virtual Machine (EVM).

This approach helps keep latency to a minimum and transaction costs way down—crucial factors for developers looking to build consumer-focused applications.