The Polygon founder has launched a new Web3 fund

The Polygon founder has launched a new Web3 fund

Sandeep Nailwal, founder of blockchain infrastructure provider Polygon, has raised $50 M to release a new venture fund for early-stage Web3 startups. Symbolic Capital is run by Kenzie Wang, the founder of Nailwal and Cere Networks. According to reports, the company is supported by different venture capitalists plus venture verticals of crypto exchanges.

Below is everything you need to know about the Polygon Founder’s new Web3 fund:

About Polygon founder’s Web3 fund

Polygon’s founder released the Web3 fund to enable mass adoption of blockchain tech and Web3. Basically, the company will support startups that are in the early stages of developing decentralized client applications (dApps). One of the initial VC firms conducted by Web3 founders, Symbolic, will back NFT startups as well.

“My life’s mission is to bring Web3 to the masses, and that will take place just if we pioneer Web3 applications,” said Polygon founder Nailwal. “Symbolic Capital has been setup to back early-stage developers realize their visions. We create blockchain companies from the ground up and are intimately familiar with the exclusive challenges these projects encounter.”

Currently, Symbolic has invested in blockchain gaming companies such as Blinkmoon, Planet Mojo, and Community Gaming. Its investments are made alongside other leading companies like Sequoial, Capital, a16z, Galaxy Digital, Tiger Global, and FTX.

Presently, early investors in Web3 funds contain crypto protocols, VC firms, crypto exchanges, crypto auditing firms, and crypto vendors. A series of offices and family institutions are also part of the investors.

About Polygon

Established in 2017, Polygon is a two-layer ETH scaling solution. Majorly named MATIC, this blockchain enables faster transactions and lower gas fees. Its native currency is MATIC, that is accessible on all main crypto exchanges. Thanks to its advantages over ETH, many Web3 companies currently choose Polygon.

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The post The Polygon founder has launched a new Web3 fund appeared first on NFT News Pro.



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