Billionaire investor Mark Cuban invests in Polygon, an Indian layer 2 Ethereum scaling solution. Polygon (Matic) said it has now become part of Mark Cuban’s company Portfolio. Now, Cuban’s portfolio website also includes Polygon.
Mark Cuban, whose net worth is around $4.4 billion, has over 100 companies. He is one of the prominent backers of cryptocurrencies, especially Ethereum and Dogecoin. Though Polygon did not reveal how much the investment is worth.
3 Indian software Engineers – Sandeep Nailwal, Jayanti Kanani, and Anurag Arjun founded Polygon in 2017. The company originally knew as Matic but changed its name to Polygon. Explaining about recent investment from the billionaire, Polygon co-founder Sandeep Nailwal said.
“We have spoken to many investors but the discussion with Mark Cuban was truly mind blowing. It was so spectacular to know that the nuances of the industry, the tech and adoption we had figured out after months of grind, he was already thinking about those and had those question in mind.”
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Ethereum is a base layer that polygon uses, which came under criticism with a high fee structure for enabling transactions. With DeFi and other projects going live on a polygon, users have increasingly turned to polygon escaping high fee transactions. Polygon aims to solve blockchain problems like high fees and slow speed without compromising its security.
Cuban will help polygon to grow by integrating polygon with lazy.com, which allows people to display non-fungible tokens (NFTs) easily.
