Polygon recently released an official post about raising sound 450 million dollars in its latest private sales round. The network conducted the private sale of its native token, Matic, where names like SoftBank, Sequoia Capital India, Tiger, Galaxy, Republic Capital, etc., offered support.
The recent development has allowed the Polygon team to create the path for Web3 apps’ mass adoption. The race for the same has been intensifying for a while, so Polygon’s move certainly earned it an edge over the rest. Check out this Polygon price prediction to learn more about where MATIC is headed.
The acquired funds will help the team in prevailing over Ethereum and similar networks. In addition, the team can use the funds to continue its investments in the Zero-Knowledge technology, which will be crucial to adding the next billion users over Web3 apps.
This was also Polygon’s first primary financing round since 2017, and it attracted names like 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 roster that led the funding was impressive, but given Polygon’s market stature, 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 while 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 provides to Web2 developers. With such operations on the table, the Polygon network is certain to rise in popularity.