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.
With an emphasis on funding and helping brands and businesses implementing tokenized economies utilizing the RLY protocol, SuperLayer started in October 2021.
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 release, SuperL assists them in areas including community, compliance, go-to-market plans, and partnerships.
Co-founders of SuperL 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
SuperLayer additional projects will be funded, according to the press release.
“With this investment and strategic partnership, SuperL is enthusiastic about shipping projects to lead the way on Polygon,” Chou said in the release.
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.
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