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Mark Cuban Invests in Ethereum Layer 2 Polygon
"I was a Polygon user and find myself using it more and more," Cuban said in an email.
By Zack Seward
Updated Sep 14, 2021, 1:01 p.m. Published May 25, 2021, 7:09 p.m.
Billionaire investor Mark Cuban has made an investment in Polygon, a layer 2 Ethereum scaling solution.
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- Cuban confirmed the investment in an email to CoinDesk but would not disclose its size or composition.
- The price of MATIC, the native token of Polygon, is up more than 9,535% year to date, according to Messari.
- With decentralized finance (DeFi) and other projects going live on Polygon, users have increasingly turned to the platform to escape the high transaction fees of the Ethereum mainnet.
- "I was a Polygon user and find myself using it more and more," Cuban said in an email.
- He said he's also integrating it into Lazy.com, a Cuban portfolio company that allows people to easily display non-fungible tokens (NFTs).
- "We have spoken to many investors but the discussion with Mark Cuban was truly mind blowing," Polygon co-founder Sandeep Nailwal told CoinDesk via Telegram.
- Polygon was listed on Cuban's website Tuesday as one of his holdings:
🔥 @mcuban is one of the most prolific and insightful investors with investments in top startups and he is also one of the Sharks on @ABCSharkTank.
— Polygon | $MATIC (@0xPolygon) May 25, 2021
🙌🏻 We're proud to share that @0xPolygon is now part of the Mark Cuban company portfolio!
🌐 Visit: https://t.co/RZg0oIomFS
Read more: Polygon Price Climbs to Record High, Benefiting From Ethereum Congestion
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