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Sequoia makes a big bet on Web3, leading $450 million investment in Polygon blockchain
CNBC February 7, 2022
Key Points
– Sequoia Capital India led a $450 million investment in Polygon, a blockchain network that serves as a support layer to Ethereum.
– Polygon eventually wants to become a decentralized version of Amazon Web Services. It’s part of a movement in crypto known as “Web3.”
– Hype around Web3 has attracted some of the biggest names in venture capital, including Andreessen Horowitz and Tiger Global.
Sequoia Capital is playing catchup with arch-rival Andreessen Horowitz in the race to invest in what could be the future of the internet — so-called Web3.
The Silicon Valley venture capital firm led a $450 million investment in Polygon, a blockchain network.
Blockchains are the distributed logs of transactions that underpin many of...
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