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Tech Billionaire Mark Cuban Invests In Polygon

 

The Crypto currency’s start up’s co-founder said that the based in US- Billionaire and Investor- Mark Cuban had invested in Polygon, which was previously called Matic, which is an Indian layer 2 ethereum scaling solution.

Polygon, in its statement said that the currency has now become a part of Mark Cuban’s company portfolio. Mark’s net income is almost around $4.4 billion as per an article printed in the Forbes. He has made investments in more than 100 companies and is one of the major supporter of cryptocurrencies, especially ether and dogecoin.

The co-founder of Polygon Nailwal gave a statement but did not give out the details of the deal. In the statement, he said- “We have spoken to many investors, but the discussion with Mark Cuban was truly mind-blowing. It was so spectacular to know that the nuances of the industry, the tech and adoption we had figured out after months of grind, he was already thinking about those and had those questions in mind.”

The formerly known as Matic Network, today’s Polygon was co-founded by three Indian software engineer Anurag Arjun, Jaynti Kanani and Sandeep Nailwal. Later Serbian engineer Mihailo Bjelic was also added as a co-founder.

Polygon stands as the first well-structured and easy-to-use platform for the scaling of ethereum and developing infrastructure.

Polygon main aim is to solve pain points that are associated with the blockchains such as high gas fees with slow speeds, that too, without giving up on the security.

There are big expectations from Mark to help Polygon grow. As per the reports, Dallas Mavericks, the owner of the National Basketball Association’s (NBA) is acquiring more and more of Polygon with the exchange company- Lazy.com. This exchange allows the investors to easily display non-fungible tokens (NFTs).

In the world today, the demand for layer 2 scaling solution is interesting the capital inflows and attracting them. This has helped Matic tokens, which is now called Polygon, to rise greatly.

The Indian made crypto currency- Matic has witnessed a spike in its graph by more than 8,000% in the duration of past one year, at the same time, remaining deeply unaffected by the recent crash in the crypto market.

Matic has made a spike over 90% over the past fortnight, while other currencies like the bitcoin and ether were down at almost around 30% and 35%, respectively, in the same duration of time. Matic has become one, among the top 15 cryptocurrencies in the world today.

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