Polygon crypto gets funding from billionaire investor Mark Cuban


Mumbai: Polygon has received an investment from US-based billionaire entrepreneur Mark Cuban, the co-founder of the homegrown blockchain technology firm said on Tuesday.

Polygon has been added to Cuban’s portfolio of companies with a description that read, “Polygon is the first well-structured, easy-to-use platform for Ethereum scaling and infrastructure development.”

A serial startup investor, Cuban is the owner of NBA’s Dallas Mavericks and one of the main “shark” investors on the reality TV show, ‘Shark Tank’. According to reports, Cuban is integrating Polygon (Matic) into Lazy.com, a portfolio company that allows people to easily display non-fungible tokens (NFTs). A prolific crypto backer, he has plans in the works to build a new online gallery to display NFTs in any form.

Cuban’s net worth is pegged at over $4 billion, according to Forbes.

Polygon’s token
breached $13 billion in market cap earlier this year.

“Growth has been significant. Some part of it is speculation—as with any cryptocurrency— but we have also expanded our vision and scope of work,” Sandeep Nailwa had told ET. “A combination of real-world application and user adoption has had a snowball effect.”

Polygon has gained in popularity, of late, as the Layer II technology to Ethereum has found increasing use cases in gaming and non-fungible tokens. Its scaling solutions have seen widespread adoption with 250+ apps, almost 76 million transactions and almost 790,000 unique users.

READ  Try Wi-Fi 6





READ SOURCE

LEAVE A REPLY

Please enter your comment!
Please enter your name here