Polygon, the Ethereum scaling platform, has become a strategic partner and anchor investor in a new $25 million fund from venture studio SuperLayer.
We’re thrilled to announce a new $25M fund for the SuperLayer ecosystem, led by @0xPolygon!
The funding will be used to expand our unique operating model, invest in new projects, and build premium Web3 products for rapid mass adoption
Read more in our blog + thread below 👇🧵
— SuperLayer (@superlayerio) August 18, 2022
The venture firm focuses on backing startups in the Rally’s RLY Protocol ecosystem from Rally.io. The studio incubates projects, providing seed funding as well as expert support in areas such as community engagement, regulatory compliance, partnerships, and many others.
“With SuperLayer’s focus on speed and quality, Polygon is a natural partner with leading industry protocols designed to eliminate blockchain scalability problems that slow innovation,” said Kevin Chow, managing partner of the studio.
According to him, Polygon’s technologies “eliminate critical costs and congestion barriers”.
“The ecosystem of the platform offers an extraordinary environment for growth and collaboration, opening doors for high-transaction crypto projects in areas such as SocialFi, GameFi, NFT and DeFi,” added Chow.
SuperLayer expects the partnership to unlock opportunities for launching next-generation Web3 companies.
As PitchBook notes, venture investments in crypto startups from April to June fell by 31%, according to PitchBook.
Meanwhile, the volume of investments in the industry in the first half of the year surpassed $30 billion, according to Messari and Dove Metrics.
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