Polygon and Seven Seven Six have created a projects support fund on Web 3

The initial budget of the fund is more than 200 million US dollars

19.12.2021 - 07:00

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What’s new? Seven Seven Six and Polygon Network have created a $200 million fund. The fund will invest in social media and other Web3-based projects. The companies’ representatives shared their views on the “new Internet” but did not disclose details of the fund, Blockworks reports.

The Blockworks material

What do the fund's organizers say? Sandeep Nailwal, co-founder and chief operations officer at Polygon, argues that social media has a great impact on society, so it needs to be developed as quickly as possible. He sees great promise in Web3. Alexis Ohanian, founder of Seven Seven Six Six, stated:

“We are still in the early days of Web3 and the most obvious opportunities right now are in gaming and social media.”

CEOs are disappointed that “the best minds of our generation are thinking about how to make people click ads.” Therefore, the fund wants to create a better way for people to communicate and allow talented developers to realize their potential.

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