SuperLayer Raises $25M With Backing from Polygon
SuperLayer, a blockchain venture studio, has secured $25 million in funding with backing from its strategic partner, Polygon Network - a Layer-2 scaling solution.
With its knack for selecting projects with innovative solutions that can help improve the usability of the blockchain ecosystem in general, SuperLayer says it is more interested in protocols looking to build on the Polygon Network.
While revealing no other backer, SuperLayer said it will be deploying the funding towards the expansion and strengthening of SuperLayer’s ecosystem of projects. Additionally, it plans on partnering with founding teams on development, design, and the fundraising required to scale projects that meet the needs of consumers around the world.
“Given SuperLayer’s focus on speed and quality, Polygon is a natural partner with industry-leading protocols designed to fix blockchain scalability issues that have slowed innovation,” said Kevin Chou, Managing Partner of SuperLayer.
“Polygon’s technology removes critical costs and congestion barriers to mass-scale consumer adoption, and its thriving ecosystem offers an ideal environment for growth and collaboration, opening the door for transaction-intensive crypto projects like SocialFi, GameFi, NFTs, and DeFi to reach their full potential. Our team at SuperLayer is excited to support ambitious projects to build on Polygon.”
Users in the digital currency ecosystem are now more concerned about usability in the Web3.0 world. Besides users, investors' focus is clearly centred on innovations with a defined use case, a push that is likely fueling projects that may be emanating from Polygon.
Polygon makes using Ethereum very easy and scalable, and any outfit that may align with this mission may catch the attention of SuperLayer.
While Ethereum 2.0 is fast approaching, the Ethereum Foundation has come out to say the new protocol may not reduce gas fees and speed as is currently expected. This solidifies the need for Layer-2 protocols like Polygon and a viable case to believe SuperLayer will have enough startups to inject its received funds into.
Image source: Shutterstock
Crypto Wallet and Data Giant Reported to Raise $50M Funding Round