Polygon raises a MEGA round 🔥

What’s poppin’ — homegrown crypto project, Polygon (aka Matic), raised a massive $450 million round from the VC-trinity — Sequoia, Softbank, and Tiger Global. That would be Polygon’s first major outside fundraise.

For the non-crypto nerds here, developed by a couple Indian programmers, Polygon has emerged as one of the most credible solutions to make the Ethereum blockchain cheaper and more scalable. It basically runs its own network (they call it a sidechain) that settles transactions by itself, and then lumps them into 1 single transaction to be confirmed on the Ethereum main blockchain — saving Ethereum from slowing down.

There’s a million companies trying to do something similar, but Polygon’s solution has been widely adopted — from NFT-marketplaces like OpenSea, to metaverse projects like Decentraland and Sandbox, some 7,000 apps run on Polygon. So far, they’ve processed more than 3.5 billion transactions, servicing more than 2.5 million monthly active users!

Besides, Polygon has been recently innovating on an approach called zero-knowledge scaling — which is expected to be a whole lot more secure, faster, and cheaper, in making Ethereum more widely available.

Worth mentioning — all Polygon had raised in VC was a $750K round in 2017. Also, this is the first major investment for these VC houses on a crypto Layer 2 project.

Meanwhile, who’s up for an MBA in the Metaverse? 🤔

Invact Metaversity, founded by ex-Twitter India boss, raised a round from the who’s who of India’s business landscape — to build a virtual learning platform inside the Metaverse. The venture is valued at $33M.

Still way early, Invact plans on building out a virtual university campus, letting people enjoy the routine university experience without moving from their couches, where students and teachers don virtual avatars. Invact currently offers an MBA alternative, with other courses to follow.