Bored Apes’ Otherside Builder Improbable to Develop Layer 1 Blockchain Somnia
In a groundbreaking development, gaming technology startup Improbable has announced its ambitious plan to create its own layer 1 blockchain, named Somnia. Improbable is promising to deliver an innovative blockchain solution capable of processing an astounding 400,000 transactions per second.
The launch of Somnia’s devnet is anticipated in the coming weeks. Improbable’s founder and CEO, Herman Narula, highlighted in a recent statement that the team has “cracked the scalability problem that has long hindered blockchain technology.” Drawing from their in-depth experience in gaming and distributed systems, Improbable aims to position Somnia as a blockchain capable of supporting “mass consumer applications,” including gaming, social platforms, and decentralized finance (DeFi).
Somnia, designed to be EVM-compatible, leverages the “breakthrough technology” of ICEdb. This technology, according to Improbable, offers “ultra-fast read/write times” and incorporates “advanced compression algorithms” which enhance data transfer efficiency between 10-20 times compared to other leading blockchains.
Initial testing of the Somnia blockchain involved 100 validators, during which it successfully processed hundreds of thousands of EVM transactions per second on non-sharded data. This was achieved by utilizing “innovative compression strategies and a custom data ingestion layer” which effectively reduced the bandwidth required for transaction processing.
Improbable is committed to contributing to the “key technical components” of the Somnia blockchain. The project itself was initiated by the Virtual Society Foundation, an independent entity established by Improbable with initial financial backing from the metaverse ecosystem MSquared, which was launched by Improbable in April 2023.
Paul Thomas, founder of the Virtual Society Foundation, stated that, “Somnia’s unprecedented blockchain capabilities are paving the way for real-time, mass-consumer applications.” Given Improbable’s already established focus on the metaverse, it is no surprise that Somnia’s mission centers on enhancing this specific application. The blockchain aims to develop “a network of rich experiences, useful valuable virtual objects and sufficiently decentralised to allow people to build real companies without dependence on one big gaming business.”
Though the initial focus of the blockchain will be on “gaming, metaverse, and social experiences,” its creators have indicated that the scope will eventually broaden. They noted, “We are not even 100% certain of what can be built with the technology we are creating,” indicating a world of potential possibilities.
Improbable, a Softbank-backed startup known for its connection with Bored Ape Yacht Club creator Yuga Labs, played a crucial role in facilitating the NFT collection’s Otherside metaverse project. With a successful $502 million Series B funding round in 2017, Improbable reached unicorn status, attaining a valuation of over $1 billion. By the crescendo of the metaverse boom in 2022, the company had raised an additional $262 million, achieving a valuation of $3.4 billion.
In a remarkable turnaround, Improbable reported its first profitable year in 2023 following several years of financial losses. This success comes on the heels of careful cost management and substantial job reductions, a strategy that was crucial in navigating previous fiscal challenges.
Somnia, with its promising potential and robust backing, is poised to become a significant player within the blockchain landscape, setting the stage for new innovations in technology and the digital market.
