Polygon and Reddit launch Web 3.0 project

Ohanian: “We’re still in the early stages of Web 3.0. There are clear opportunities right now in the gaming industry and social areas.”

Polygon and Alexis Ohanian’s venture capital firm announced yesterday that they have launched a $200 million venture project that will operate in the social media and Web 3.0 space and are advancing their work. It was explained that this initiative was established to focus on game applications and social media platforms built on Polygon’s infrastructure.

The Polygon ecosystem has expanded rapidly this year, with more than 3,000 decentralized applications deployed on Polygon’s network to address Ethereum’s scaling problem. Polygon reported earlier this week that it has allocated 250 million MATICs worth $627.5 million to develop “zero knowledge” technology for complex decentralized finance applications. Among the two biggest reasons for Polygon’s token price increase, we can list protocol launches and cross-chain transitions.

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