However it may seem, despite last week’s strife the wealthy financial backers or rather investors are not fazed at all. They are still ready to mine the digital asset market. In fact, offering evidence for the same, billionaire investor Mark Cuban had made the decision to financially back Polygon. This was verified by a new discloser provided on one of his websites.
The subsidization of the project by Mark Cuban is further reaffirmed by the expansion of Polygon to the website of Mark Cuban Companies.
In the past, Cuban had been an abscind person when it came to cryptocurrency. But over the previous here, Cuban has become a more vocal ally of the incipient resource class. While Elon Musk, who used to be very vocal about cryptocurrencies recently expressed his abhorrence over the same owing to environmental concerns, Cuban said his Dallas Mavericks would accept digital payment as a remittance.
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Cuban has additionally recognized that digital currencies are starting to reflect genuine interest for their utility, contending that the fate of the industry stays brilliant.
“Having more TPS and lower gas fees is not enough,” he wrote, in addition to:
“There must be a CURRENT network effect and significant user growth. This is a challenge for most L1s and L2s because [with] few exceptions, marketing in the crypto universe is beyond awful.”
Given the brisk eminence of the network that took place this year, the backing offered by Mark Cuban doesn’t really come as a surprise. Polygon, formerly known as Matic, is a multi-chain scaling arrangement made with the intention of making Ether-based exchanges more proficient. Polygon’s client base developed by 75,000 in only one week, calling attention to the developing interest for layer-2 solutions if the reports of Cointelegraph are to be followed. A huge volume of approximately $1 billion was created by the convergence of clients.
Cuban has some really on-point opinion when asked what caught his eye about Polygon that made him choose them over other layer-2 scaling solutions. Apart from disclosing to Cointelegraph that he was “an active user” he also added:
“It is fast, it works well and most importantly their user base is growing exponentially.”
Reverting to the question about what Polygon gains from Mark Cuban Companies, the billionaire said:
“I can give them feedback on marketing and we are in the process of integrating polygon into lazy.com which we think will be very beneficial to creating a platform to extend NFTs and personal galleries.”
Sandeep Nailwal, Polygon’s chief operations officer, had nothing but praises for the founder of Mark Cuban Companies. He further went on to describe his conversation with Mark Cuban as “truly mind-blowing” adding:
“It was so spectacular to know that the nuances of the industry, the tech and adoption we had figured out after months of grind, he was already thinking about those and had those questions in mind.”