Polygon is an anchor investor and a strategic partner in the new $25 million fund for web3 venture SuperLayer, which is also backed by Animoca Brands and Andreessen Horowitz.
In a release on Thursday, Kevin Chou, managing partner of SuperLayer, stated that Polygon was a natural partner with industry-leading protocols created to address blockchain scalability problems that have hampered innovation.
SuperLayer was established in October 2021 with a focus on financing and aiding businesses and brands that use the RLY protocol to construct tokenized economies.
In contrast to a standard VC firm, the studio co-founds ventures with entrepreneurs and provides them with initial money so they can internally develop the idea. According to a press release, SuperLayer supports them in areas including community, compliance, marketing plans, and alliances.
Co-founders of SuperLayer Kevin Chou and Mahesh Vellanki have both built successful businesses of their own, including the creator economy protocol Rally.io on the RLY network and the blockchain gaming platform Forte.
The Animoca Brand creator Yat Siu, the celebrity Paris Hilton, and Andreessen Horowitz partner Chris Dixon are just a few of the well-known financiers and backers of the company.
SuperLayer’s operational model will be expanded, and additional projects will be funded, according to the press release.
In the statement, co-founder Chou stated, “SuperLayer is enthusiastic about shipping projects to lead the way on Polygon with this investment and strategic partnership.”
According to a press release, when SuperLayer first announced its plans in October, the business indicated it would invest $25 million to kickstart the growth of web3 startups and would thereafter continue to gather money continuously.