Web3 venture studio SuperLayer is announcing a $25 million fund “led by anchor investor and strategic partner Polygon, an Ethereum scaling platform onboarding millions to Web3.”
SuperLayer is “a Web3 venture studio founded by early pioneers in blockchain, gaming, and social tokens who are applying their proven expertise to build and back premium tokenized apps for consumers.”
The studio is “led by Managing Partners Kevin Chou and Mahesh Vellanki, founders of blockchain and Web3 companies, including Forte.”
Prior to founding Forte, Chou successfully “built the gaming company Kabam, which was acquired for more than $800 million in 2017.”
Polygon is “designed to work in parallel with the Ethereum network to improve functionality and promote infrastructure development.” The network “provides end-to-end solutions for developers and users and is already working with major global brands and companies, including Stripe and Adobe.”
The anchor fund investment from Polygon “provides SuperLayer with additional opportunities to expand and strengthen its ecosystem of projects, partner with founding teams on development, and unlock the fundraising required to scale projects that meet the needs of consumers around the world.”
SuperLayer and Polygon are both “respected for their technology, ecosystem, and company-building prowess.” Together, alongside their networks of partners and entrepreneurs, they are committed “to launching the next generation of companies that make Web3 accessible to mainstream audiences.”
This announcement “comes shortly after the beta release of the SuperLayer-backed platform Taki, a global token-powered social network that has reached over 750,000 people since its launch in April 2022.”
As a Web3 venture studio that supports its projects long after launch, SuperLayer differentiates itself from other VCs and accelerators “with its success in helping brands and companies to implement tokenized economies using the RLY Protocol.”
Working with SuperLayer “increases the likelihood of successful outcomes with SuperLayer’s hands-on startup studio expertise.” SuperLayer supports critical areas “to win in Web3, including community, compliance, go-to-market, partnerships, and more.”
Furthermore, with the winning Web3 track record of SuperLayer’s founders and core team, projects in the venture studio’s ecosystem “gain credibility in the Web3 space.”
Kevin Chou, Managing Partner of SuperLayer, said:
“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. Polygon’s technology removes critical costs and congestion barriers to mass-scale consumer adoption, and its thriving ecosystem offers an ideal environment for growth and collaboration, opening the door for transaction-intensive crypto projects like SocialFi, GameFi, NFTs, and DeFi to reach their full potential. Our team at SuperLayer is excited to support ambitious projects to build on Polygon.”
SuperLayer will “continue launching projects with quick go-to-market strategies, ecosystem sustainability, and interoperability in mind.”
The strategic partnership with Polygon “allows SuperLayer to continue delivering Web3 projects to communities while also helping an entire ecosystem of dApps to work together.”
Sandeep Nailwal, Co-Founder of Polygon, stated:
“SuperLayer’s track record for Web3 innovation is incredible, and the projects spun out of the studio are a testament to their expertise. We’re delighted to partner with SuperLayer to explore creative new use-cases and products that people want to utilize and that can positively influence the future of Web3.”
Chou added:
“Polygon is a layer-2 scaling solution for Ethereum’s stress-tested blockchain, enabling new classes of projects to excel, in part by lowering previously prohibitively expensive transaction costs to a few cents. This benefits both entrepreneurs and end users; Polygon reduces the network load for much of the industry and creates a more sustainable path forward for Web3. With this investment and strategic partnership, SuperLayer is enthusiastic about shipping projects to lead the way on Polygon,”