Polygon’s funding into BFF’s Fund II will hasten blockchain improvement and foster mainstream adoption
SINGAPORE, Sept. 30, 2022 /PRNewswire/ — Blockchain Founders Fund (BFF), a Singapore-based Enterprise Capital Fund that focuses on early-stage Web3 and blockchain startups globally, in the present day proclaims that Polygon, an Ethereum scaling platform onboarding hundreds of thousands to Web3, has made a strategic funding into their Fund II to diversify the corporate’s holdings and advance the mainstream adoption of blockchain expertise.
Blockchain Founders Fund boasts a formidable portfolio of over 100 firms within the Web3 house with an equally spectacular monitor report of successfully scaling them to focused audiences. These firms embrace blockchain-powered no-code gaming studios (GRID), social intelligence for cryptocurrencies (LunarCrush), and varied different functions constructed on high of blockchain infrastructure.
The fund II, which focuses on promising Web3, and metaverse startups, launched in January after elevating $75 million from a number of main crypto traders. Included amongst taking part traders had been NEO World Capital (NGC), Appworks, Sebastien Borget, COO of The Sandbox, and Polygon co-founder Sandeep Nailwal.
This newest partnership marks one other profitable collaboration between BFF and Polygon. Beforehand, BFF has co-invested alongside Polygon in high blockchain firms reminiscent of Splinterlands and Altered State Machine to speed up and empower decentralized functions. This collaboration will allow each firms to supply distinctive worth propositions to web3 founders and entrepreneurs with excessive potential to disrupt industries.
Sandeep Nailwal, Co-Founding father of Polygon mentioned, “To deliver the imaginative and prescient of Web3 to realization and assist garner mainstream adoption, it is important that we assist entrepreneurs in constructing modern merchandise and infrastructure. We look ahead to working alongside Blockchain Founders Fund, who share our imaginative and prescient and imagine within the transformative potential of Web3.”
Boasting simply over 37,000 decentralized functions (dapps), Polygon is quick changing into the de facto platform for Web3. The community affords an array of blue-chip companies starting from decentralized finance (DeFi) dapps reminiscent of Aave, Curve, Balancer, and Uniswap, to the very best gaming and metaverse platforms, together with Decentraland, Somnium House, and The Sandbox. Polygon additionally powers the mass market, serving to main international manufacturers, together with Starbucks, Adobe, Clinique, and others, combine Web3 performance.
“The addition of one of many largest crypto companies reminiscent of Polygon as a companion will develop our funding profile and skill to put money into a wider vary of early-stage firms,” commented Aly Madhavji, Managing Companion of Blockchain Founders Fund. “Their experience within the business will significantly help us in connecting with the very best breed of high-potential firms which might be constructing actual options to actual issues.”
About Polygon
Polygon is the main blockchain improvement platform, providing scalable, reasonably priced, safe and sustainable blockchains for Web3. Its rising suite of merchandise affords builders easy accessibility to main scaling options together with L2 (ZK Rollups and Optimistic Rollups), sidechains, hybrid, stand-alone and enterprise chains, and information availability. Polygon’s scaling options have seen widespread adoption with 37,000+ decentralized functions hosted, 1.94B+ complete transactions processed, 164M+ distinctive consumer addresses and $5B+ in belongings secured. The community is house for among the largest Web3 tasks reminiscent of Aave, Uniswap, OpenSea and well-known enterprises together with Meta, Stripe and Adobe. Polygon is carbon impartial with the objective of main the Web3 ecosystem in changing into carbon damaging.
About Blockchain Founders Fund
Blockchain Founders Fund (BFF) is a Singapore primarily based early-stage Enterprise Capital Fund which invests in top-tier Blockchain startups globally. Their business main go-to-market centered Enterprise Program aids seasoned and first-time entrepreneurs throughout key enterprise capabilities to fast-track progress. BFF has scaled most of the main Blockchain startups and is at all times trying to join with distinctive founders throughout the Web3 and Blockchain ecosystems.
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SOURCE Blockchain Founders Fund
