Author Archives: TheBlock.co

Polygon will continue hiring despite market downturn: Bloomberg

Ethereum scaling solution Polygon plans to continue hiring despite the bear market and choppy macro conditions, it said this week.  This will include plans to increase its overall headcount by over 40%, according to an interview published by Bloomberg. Bhumika Srivastava, the firm’s head of human resources, said the company hopes to capitalize on the misfortune of[Read more…]

21-year-old female founder raises $5 million for web3 community protocol Koop 

Koop, a web3 protocol focused on the creator economy, announced Wednesday its public launch and $5 million in seed funding.  Variant Fund and Nick Tomaino’s venture capital firm 1confirmation co-led the round, with Palm Tree Crew, Day One Ventures, Ethereal Ventures, DeFi Alliance, Volt Capital and others participating. Angel investors including crypto influencer Cooper Turley, former[Read more…]

Meta now lets you post NFTs and other digital collectibles to Facebook

Users of Facebook can now post their digital collectibles and NFTs to their accounts on the platform.  Meta, the parent company behind social media platforms Facebook and Instagram, announced Monday that it allowing users to add digital wallets and virtual assets to Facebook. The firm’s move now brings NFTs to Facebook’s 2.9 billion users, according to Statista.[Read more…]

Polygon and Cere Network founders launch $50 million web3 fund

Symbolic Capital, a venture capital firm launched in May by Polygon founder Sandeep Nailwal and Cere Network founder Kenzi Wang, has raised a $50 million VC fund.  The fund will target “pioneering web3 applications” and its limited partners — the backers of funds — include crypto protocols, exchanges, auditing firms, and crypto vendors, and traditional LPs such[Read more…]

Polygon leads investment in venture studio SuperLayer’s $25 million fund

Web3 venture studio SuperLayer has announced a new $25 million fund led by anchor investor and strategic partner Polygon, an Ethereum scaling solution.  “Given SuperLayer’s focus on speed and quality, Polygon is a natural partner with industry-leading protocols designed to fix blockchain scalability issues that have slowed innovation,” said Kevin Chou, managing partner of SuperLayer in a release on Thursday.  SuperLayer launched[Read more…]

BitDAO to fund AfricaDAO with $20 million for web3 adoption in Africa

The BitDAO community has voted in favor of a proposal to provide $20 million in funding to bootstrap a new decentralized autonomous organization called AfricaDAO. BitDAO, formed in 2021, aims to promote global crypto adoption by providing grants to projects and also supporting web3-based research and development efforts. AfricaDAO is a new investment fund created to accelerate web3 development[Read more…]

Solana-based Project Eluüne: StarGarden to launch on Polygon

Los Angeles-based game studio Arrivant is taking its Project Eluüne: StarGarden title cross-chain and will launch on Polygon in addition to its current home on Solana. The team cited Polygon’s “dedication to sustainability” and “recent hirings of AAA talent” as motivating factors. In a statement, it confirmed that the move was decided before the Slope exploit on[Read more…]

Line Games’ web3 gaming arm raises seed round to put popular titles on-chain

Line Games’ web3 gaming arm Nerdystar announced a $5.8 million seed round on Tuesday to produce blockchain games based on some of the brand’s most successful web2 titles. South Korean investment firm Blocore led the round, which also saw participation from Bitkraft Ventures, FTX Ventures, GuildFi, Formless Capital, VistaLabs, Seum and SBXG. The company previously[Read more…]

Tiger Global joins $12 million funding round for gamer infrastructure startup Lysto

Lysto, a blockchain startup that is building verification tools for gamers, has raised $12 million in a pre-Series A funding round. Sharing the news exclusively with The Block on Tuesday, Lysto said venture capital firms Square Peg, Beenext and Hashed co-led the round, with Tiger Global and Better Capital participating. Angel investors, including Balaji Srinivasan (former Coinbase[Read more…]