Polygon And Cere Network Founders Announced A $50 Million Web3 Fund
Symbolic Capital, the venture capital fund of the two founders of Polygon and Cere Network, has successfully raised $50 million.
In the latest announcement, Sandeep Nailwal – founder of Polygon, and Kenzi Wang – founder of Cere Network have successfully established a VC fund worth $50 million.
Accordingly, the fund will aim to promote pioneering Web3 applications and the fund’s backer partners – including protocols, exchanges, auditing firms, and cryptocurrency supply organizations, according to the announcement. Nailwal said:
“My core mission is to bring mass adoption to Web3, and that mass adoption is only going to happen via apps. It’s not like I’m going to build a blockchain, and people will come and use the blockchain — nobody uses blockchain directly. They always use it via some app.”
Symbolic intends to focus on businesses developing consumer-facing decentralized apps. These apps, known as dApps, serve identical duties to regular apps but eliminate middlemen by utilizing blockchain networks and smart contracts (self-executing computer code stored on blockchains). Uniswap, for example, is a popular Ethereum-based dApp that serves as a decentralized exchange for anyone to trade coins and tokens.
Symbolic announced that it had already invested in blockchain gaming startups Blinkmoon, Planet Mojo, and Community Gaming.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
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Harold
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Polygon And Cere Network Founders Announced A $50 Million Web3 Fund
Symbolic Capital, the venture capital fund of the two founders of Polygon and Cere Network, has successfully raised $50 million.
In the latest announcement, Sandeep Nailwal – founder of Polygon, and Kenzi Wang – founder of Cere Network have successfully established a VC fund worth $50 million.
Accordingly, the fund will aim to promote pioneering Web3 applications and the fund’s backer partners – including protocols, exchanges, auditing firms, and cryptocurrency supply organizations, according to the announcement. Nailwal said:
“My core mission is to bring mass adoption to Web3, and that mass adoption is only going to happen via apps. It’s not like I’m going to build a blockchain, and people will come and use the blockchain — nobody uses blockchain directly. They always use it via some app.”
Symbolic intends to focus on businesses developing consumer-facing decentralized apps. These apps, known as dApps, serve identical duties to regular apps but eliminate middlemen by utilizing blockchain networks and smart contracts (self-executing computer code stored on blockchains). Uniswap, for example, is a popular Ethereum-based dApp that serves as a decentralized exchange for anyone to trade coins and tokens.
Symbolic announced that it had already invested in blockchain gaming startups Blinkmoon, Planet Mojo, and Community Gaming.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join CoinCu Telegram to keep track of news: https://t.me/coincunews
Follow CoinCu Youtube Channel | Follow CoinCu Facebook page
Harold
CoinCu News
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