Polygon, a local blockchain technology firm, has received a “significant investment” in lieu of its tokens from US-based billionaire entrepreneur Mark Cuban, according to co-founder Sandeep Nailwal of ET.
Polygon was founded in 2017 by the Indian software engineers- Jayanti Kanani, Sandeep Nailwal, and Anurag Arjun. Its target is to provide fast and cheaper transactions on the Ethereum blockchain.
Having a net worth of around $4.4 million, Mark Cuban has added Polygon to the company’s portfolio. And is now one of the most notable sponsors of cryptocurrencies, particularly ether and dogecoin, with investments in over 100 firms.
“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 questions in mind,” Nailwal stated without disclosing the deal’s details.
“Growth has been significant. Some part of it is speculation—as with any cryptocurrency— but we have also expanded our vision and scope of work,” Sandeep Nailwa had told ET earlier. “A combination of real-world application and user adoption has had a snowball effect.”
Having 250 decentralized applications, 76 million transactions, and 790,000 unique users plus a widespread adoption of its scaling solution.
Meanwhile, Polygon is expected to get benefit from Cuban’s assistance. As per the rumors, the owner of the Dallas Mavericks of the National Basketball Association (NBA) is combining Polygon with Lazy.com, a platform that allows users to simply display non-fungible tokens (NFTs).
His crypto portfolio is made up of 60% Bitcoin, 30% Ethereum, and the balance is made up of other cryptocurrencies. He considers Bitcoin to be a store of value rather than a currency and is a superior substitute for gold