Sequoia “all hands” on Web3, top the $ 450 million investment round in the Polygon blockchain

Sequoia Capital is catching up with famed competitor Andreessen Horowitz in the race to invest in the Internet’s long term possible – Web3, and this time the Se...

Sequoia Capital is catching up with famed competitor Andreessen Horowitz in the race to invest in the Internet’s long term possible – Web3, and this time the Sequoia fund has bet on Polygon (MATIC).

Sequoia all hands on Web3 leading the 450 million

This Silicon Valley-based mostly venture capital fund led a $ 450 million investment round in Polygon, a Tier two blockchain network. It is the network that serves as the backing layer for Ethereum, the platform, the biggest platform blockchain of the globe now, assisting it to course of action transactions on a massive scale. Along with Sequoia Capital India there are also Tiger Global, SoftBank, Galaxy Digital, Republic Capital, Makers Fund, Alameda Research, Alan Howard, Alexis Ohanian, Steadview Capital, Elevation Capital, Animoca Brands, Spartan Fund, Dragonfly Capital, Variant Fund, Sino Global Capital and Kevin O’leary.

See extra: Polygon (MATIC) hits seven,000 dApp milestone, beating Ethereum’s day-to-day trading volume

This funding round has turn out to be the most important transaction in the cryptocurrency marketplace in 2022. Next on this checklist are the prosperous specials of FTX ($ 400 million), OpenSea ($ 300 million). , Serum ($ 75 million), Seba Bank ($ 119 million), Close to Protocol ($ 150 million), Animoca Brands ($ 359 million), Autograph ($ 170 million) and FTX.US ($ 400 million).

The valuation of the FTX floor reaches 32 billion dollars

Taking a longer time frame, the Sequoia investment round in Polygon is also one particular of the most important specials in the background of the cryptocurrency marketplace.

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