- Summary:
- Ethereum scaling platform, Polygon, has made a strategic investment in Polygon Blockchain Founders Fund. We tell you why this matters.
The Ethereum scaling platform Polygon has made a strategic investment into Fund II of the Blockchain Founders Fund (BFF), a venture capital fund that supports entrepreneurs in the Web 3.0 and blockchain industries. However, the two companies did not reveal details of the investment. To help Web3 businesses reach a larger audience, Blockchain Founders Fund provides them with the resources they need to expand.
At the moment, BFF has a growing portfolio that includes over 100 different companies. The latest investment will go toward broadening the company’s portfolio of holdings as well as accelerating the widespread implementation of blockchain technology.
BFF’s mission and its continuation of the partnership with Polygon
Polygon and BFF have made prior joint investments in leading blockchain firms like Splinterlands and Altered State Machine to accelerate and strengthen the development of decentralized apps. Together, both companies will be able to provide significantly more value to web3 startups. They will also be able to attract entrepreneurs who have the ability to significantly impact their respective industries. As a result, this move represents a continuation of a productive working relationship that already exists between the two organizations.
Polygon is the go-to blockchain development platform because it provides Web3 blockchains that are scalable, inexpensive, safe, and sustainable. BFF is on a mission to connect with extraordinary creators across the Web3 and Blockchain ecosystems, having successfully scaled many of the leading Blockchain firms. In January, having raised $75 million from a number of prominent cryptocurrency investors, Fund II began focusing on prospective Web3 and metaverse firms.
With over 37,000 on its platform, Polygon is quickly becoming the go-to infrastructure provider for many Web3 projects. It’s fast emerging as the engine that drives the mass market. Furthermore, many well-known companies around the world, such as Starbucks, Adobe, Clinique, and many more, are already using it. Therefore, the partnership with BFF is one between two reputable firms with proven track records.