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Polygon raises $450 million through private token sale


Polygon recently released an official statement raising $450 million in sound in its latest private sale. The network conducted the private sale of its own token, Matic, where names like SoftBank, Sequoia Capital India, Tiger, Galaxy, Republic Capital, etc. provided support. Recent development has allowed the Polygon team to pave the way for mass adoption of Web3 apps. The race for the same has been intensifying for a while, so Polygon’s move certainly gave it an edge over the rest. Therefore, traders sought an accurate Polygon price prediction to reassess their portfolios. The funds raised will help the team gain the upper hand on Ethereum and similar networks. In addition, the team can use the money to continue its investments in Zero Knowledge technology, which will be critical to adding the next billion users through Web3 apps. This was also Polygon’s first primary funding round since 2017, attracting names such as Alameda Research, Makers Fund, Transcend Fund, Animoca Brands, dune ventures, Scopely, Seven Seven Six, Union Square Ventures, Sino Global Capital, Elevation Capital, Standard Crypto, DCG, Dragonfly Capital, Celsius, Blue Pool Capital, Variant Fund, WorkPlay Ventures, Third Point, Accel, and Steadview Capital. The selection that led the funding was impressive, but given Polygon’s market status, the association of such names seems natural. According to the core team, the investment round will turn the tide for Polygon, lifting every project on the network and making Web3 a reality for many. At the same time, the Polygon team is also developing a complete suite of services similar to what AWS offers Web2 developers. With such operations on the table, the Polygon network is sure to rise in popularity.
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