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Mark Cuban Invests in Ethereum Layer 2 Polygon
"I was a Polygon user and find myself using it more and more," Cuban said in an email.
Billionaire investor Mark Cuban has made an investment in Polygon, a layer 2 Ethereum scaling solution.
STORY CONTINUES BELOW
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- Cuban confirmed the investment in an email to CoinDesk but would not disclose its size or composition.
- The price of MATIC, the native token of Polygon, is up more than 9,535% year to date, according to Messari.
- With decentralized finance (DeFi) and other projects going live on Polygon, users have increasingly turned to the platform to escape the high transaction fees of the Ethereum mainnet.
- "I was a Polygon user and find myself using it more and more," Cuban said in an email.
- He said he's also integrating it into Lazy.com, a Cuban portfolio company that allows people to easily display non-fungible tokens (NFTs).
- "We have spoken to many investors but the discussion with Mark Cuban was truly mind blowing," Polygon co-founder Sandeep Nailwal told CoinDesk via Telegram.
- Polygon was listed on Cuban's website Tuesday as one of his holdings:
🔥 @mcuban is one of the most prolific and insightful investors with investments in top startups and he is also one of the Sharks on @ABCSharkTank.
— Polygon | $MATIC (@0xPolygon) May 25, 2021
🙌🏻 We're proud to share that @0xPolygon is now part of the Mark Cuban company portfolio!
🌐 Visit: https://t.co/RZg0oIomFS
Read more: Polygon Price Climbs to Record High, Benefiting From Ethereum Congestion
Zack Seward
Zack Seward is CoinDesk’s contributing editor-at-large. Up until July 2022, he served as CoinDesk’s deputy editor-in-chief. Prior to joining CoinDesk in November 2018, he was the editor-in-chief of Technical.ly, a news site focused on local tech communities on the U.S. East Coast. Before that, Seward worked as a reporter covering business and technology for a pair of NPR member stations, WHYY in Philadelphia and WXXI in Rochester, New York. Seward originally hails from San Francisco and went to college at the University of Chicago. He worked at the PBS NewsHour in Washington, D.C., before attending Columbia’s Graduate School of Journalism.
