Thanks to a new joint venture fund with blockchain venture capitalist AU21 Capital, the polygon ecosystem is receiving a significant boost in funding.that creates the conditions for wider acceptance of the Ethereum-compatible infrastructure platform.
The US $ 21 million Polygon Ecosystem Fund, announced on Wednesday, aims to provide direct financial support to promising projects built on Polygon.. The fund will provide marketing and business development support as well as human capital incentives.
Getting the assistance of AU21 is a source of Polygon’s strength, given the venture capital firm’s track record in supporting highly successful projects, including The Graph, Casper Labs, and Elrond, among others. AU21 was one of several companies participating in the Cere token offering, which sold out within an hour.
Alexi Nedeltschev, Manager of the AU21 Polygon Ecosystem Fund, He said there were several reasons why he chose to support polygon-based projects:
“First, the coordination of Polygon with Ethereum enables us to capture an already active ecosystem. Second, Polygon’s exceptional development potential has already been realized through a number of partnerships with leading DeFi protocols, creating an important framework for the future development of Polygon’s infrastructure.
Polygon has received significant media attention in recent months amid signs of growing network adoption. As Cointelegraph previously reported, In May, the platform gained 75,000 new users over a period of seven dayswhich underscores the growing demand for decentralized Layer 2 applications.
The billion dollar investor and owner of the Dallas Mavericks, Mark Cuban, also supports polygon. The blockchain project is now listed in the Cuban business market and shows its financial support. The entrepreneur told Cointelegraph that he is an “active user” of Polygon and that his “user base is growing exponentially”.