Business News: Billionaire Mark Cuban invests in Indian crypto-currency startup Polygon.
Local blockchain technology firm Polygon received “sizable investment” from US-based billionaire entrepreneur Mark Cuban, in lieu of his tokens, co-founder Sandeep Nailwal told ET.
Polygon (Matic) was added to Cuban’s portfolio of companies with the description that it is the “first well-structured and easy-to-use platform for Ethereum scaling and infrastructure development”.
“The best thing to hear was that Mark Cuban himself uses applications on Polygon and believes this platform is ready for growth,” Nailwal said. “He’s linking his portfolio companies.”
A prolific advocate of cryptocurrencies, Cuban plans to create a new online gallery to view NFTs in any form. Cuba’s net worth is set at over $ 4 billion, according to Forbes. Polygon’s token surpassed $ 13 billion in market capitalization earlier this month.
“The growth has been significant. This is partly speculation, as with any cryptocurrency, but we have also expanded our vision and scope of work, “Nailwal previously told ET.” A combination of real-world applications and user adoption has had an avalanche effect “.
Polygon has gained popularity in recent times, as Ethereum’s Layer II technology has found increasing use cases in games and NFTs. Its scaling solutions have seen widespread adoption with over 250 apps, nearly 76 million transactions, and nearly 790,000 unique users.