Polygon Technology raised about $450 million by privately selling its own MATIC token in a funding round led by Sequoia Capital India with participation from SoftBank Vision Fund 2, Galaxy Digital, Galaxy Interactive, Tiger Global, Republic Capital and prominent investors such as Alan Howard (co-founder of Brevan Howard) and Kevin O’Leary (Mr. Wonderful of ABC’s Shark Tank). Also, Voodoo played a big role in this investment.
Voodoo, which began investing in blockchain games last month, is also among the investors. In the future, Voodoo plans to create 20 more studios that focus exclusively on blockchain game development. We have already written about this on the site.
I am very happy to announce that Voodoo is supporting Polygon. We believe Polygon has developed a strong and scalable blockchain architecture to bring Play & Earn games to a global audience. Together with Voodoo’s growth, technology and coaching capabilities, this will allow studios and developers around the world to offer a comprehensive solution to easily and securely publish their games on blockchain.Alexander Yazdi, CEO of Voodoo
With this capital, the core team will be able to secure Polygon’s leadership in paving the way for mass adoption of Web3 applications, a race that we believe will result in Ethereum trumping alternative blockchains.
Web3 builds on the ideals of the early open source Internet, allowing users to create value, control the network and reap the rewards. Ethereum, Polygon’s scalable Ethereum, will be the foundation of this next stage in the evolution of the Web. The technological upheaval did not begin with Web2 and will not end there. That’s why we’re very excited to see some of the same firms that funded the previous round of innovation now in our vision for Web3.Sandeep Nailwal, co-founder of Polygon Technology
The rapid rise in popularity of new applications in decentralized finance (DeFi) and NFT has led to network congestion and increased fees. Polygon Technology has offered a wide range of scalability and the lowest transaction fees in the industry.