Ethereum scaling platform Polygon has acted as a strategic partner and anchor investor for a new $25 million fund from venture capital firm SuperLayer.
We are excited to announce a new $25 million fund for the SuperLayer ecosystem. @0xPolygon!
The fund will be used to expand our unique operating model, invest in new projects and build premium Web3 products for rapid mass adoption.
Read more on our blog + in the thread below 👇🧵
— SuperLayer (@superlayer) 18 August 2022
The startup company is focused on supporting startups in the RLY Protocol network ecosystem from Rally.io. The studio incubates projects by providing seed funding as well as expert support in the areas of community engagement, regulatory compliance, partnerships and more.
“Given SuperLayer’s focus on speed and quality, Polygon is a natural partner with industry-leading protocols designed to address blockchain scalability issues that are slowing innovation,” said studio managing partner Kevin Chow.
According to him, Polygon’s technologies “remove critical costs and congestion barriers.”
“The platform ecosystem provides an exceptional environment for growth and collaboration, opening the door to transaction-intensive crypto projects in areas such as SocialFi, GameFi, NFT, and DeFi,” Chow said.
SuperLayer expects the partnership to create opportunities to launch “next generation” Web3 companies.
Recall that from April to June, venture investments in crypto startups decreased by 31%, according to PitchBook.
At the same time, Messari and Dove Metrics experts calculated that the volume of investments in the sector in the first half of the year exceeded $30 billion.
Read ForkLog bitcoin news in our Telegram – cryptocurrency news, courses and analysis.
Source: Fork Log
I’m Sandra Torres, a passionate journalist and content creator. My specialty lies in covering the latest gadgets, trends and tech news for Div Bracket. With over 5 years of experience as a professional writer, I have built up an impressive portfolio of published works that showcase my expertise in this field.