Mark Cuban Lends His Support to Polygon

The Ethereum-based scaling solution recently appeared on the website of Mark Cuban Companies, where he has confirmed his support of the Polygon project.

Mark Cuban’s Support To Polygon

According to a new disclosure on one of his blogs, billionaire businessman Mark Cuban has lent his support to Polygon, providing more proof that affluent investors are tapping into the digital asset market amid recent turbulence.

Polygon seems to have been added recently to the Mark Cuban Companies website, reaffirming the billionaire’s support for the initiative.

Cuban As A Controversial Character In Crypto Industry

Cuban, who was previously a divisive character in the Bitcoin industry, has become a more outspoken advocate of the fledgling asset class in the last year.

When Elon Musk announced that he would no longer accept Bitcoin payment for Tesla vehicles owing to environmental concerns, Cuban stated that his Dallas Mavericks will continue to take the digital currency as payment.

Cuban has also stated that cryptocurrencies are starting to reflect actual demand for their use, maintaining that the industry’s future remains bright.

“More TPS and cheaper gas prices are insufficient,” he added, adding:

“A CURRENT network effect and considerable user growth are required. This is a barrier for most L1s and L2s since, with a few exceptions, marketing in the crypto realm is atrocious.”

Polygon Is Now A Part Of Mark Cuban’s Portfolio

His support for Polygon is unsurprising considering the network’s meteoric rise this year. Polygon, formerly known as Matic, is a multi-chain scaling solution aimed to improve the efficiency of Ether-based transactions. 

🔥 @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.

🙌🏻 We’re proud to share that @0xPolygon is now part of the Mark Cuban company portfolio!

🌐 Visit: https://t.co/RZg0oIomFS

— Polygon (previously Matic) (@0xPolygon) May 25, 2021

Polygon’s user base increased by 75,000 in only one week, demonstrating the rising need for layer-2 solutions. Volumes produced by the inflow of consumers totaled approximately $1 billion.

When asked what distinguished Polygon from other second-layer scaling solutions, Cuban informed that he was an “active user,” adding

“It is quick, it works well, and most importantly, their user base is expanding at an exponential rate.”

Mark Cuban Companies’ contribution to Polygon, according to the billionaire investor, is as follows:

“I can provide marketing comments, and we are in the process of integrating polygon into lazy.com, which we believe will be extremely helpful in building a platform to extend NFTs and personal galleries.”

Polygon’s chief operations officer, Sandeep Nailwal, described his meetings with Cuban as “really mind-blowing,” adding:

“It was so incredible to know that the complexities of the business, the technology, and adoption that we had figured out after months of hard work, he was already thinking about and asking those questions.”