Share this article
Polygon Commits $100M to ‘Supernets’ as Layer 1s Stand Up Application-Specific Blockchains
Polygon has announced Supernet chains, pledging to invest $100 million to attract the development of customizable networks.
Updated May 11, 2023, 4:28 p.m. Published Apr 22, 2022, 1:26 p.m.
Make us preferred on Google
Polygon plans to invest $100 million in customizable "Supernet" chains, customizable networks that projects will be able to run without cost.
- The tool aims to fast-track blockchain adoption by reducing the barrier of entry for developers who previously used Polygon Edge.
- On each Supernet, validators will stake MATIC tokens on the mainnet before going on to validate the network to ensure a robust level of security.
STORY CONTINUES BELOW
- "The infrastructure tooling enables users to achieve desired outcomes easily and quickly," Polygon co-founder Sandeep Naliwal said in a statement. "Polygon's goal is to bring mass adoption to Web3 as the key to blockchain adoption is to provide a comprehensive range of options for enterprises."
- In March, Avalanche committed $290 million to a Multiverse Fund, some of which will be used to develop "Subnets," a similar concept to Polygon's Supernets.
- Both efforts ultimately aim to scale application-specific blockchains, particularly those focused on consumer or enterprise use cases.
Read more: Avalanche Commits $290M in AVAX to Attract Gaming, DeFi and NFT ‘Subnets’
More For You
Pudgy Penguins is building a multi-vertical consumer IP platform — combining phygital products, games, NFTs and PENGU to monetize culture at scale.
What to know:
Pudgy Penguins is emerging as one of the strongest NFT-native brands of this cycle, shifting from speculative “digital luxury goods” into a multi-vertical consumer IP platform. Its strategy is to acquire users through mainstream channels first; toys, retail partnerships and viral media, then onboard them into Web3 through games, NFTs and the PENGU token.
The ecosystem now spans phygital products (> $13M retail sales and >1M units sold), games and experiences (Pudgy Party surpassed 500k downloads in two weeks), and a widely distributed token (airdropped to 6M+ wallets). While the market is currently pricing Pudgy at a premium relative to traditional IP peers, sustained success depends on execution across retail expansion, gaming adoption and deeper token utility.
More For You
Deus X CEO Tim Grant: We aren't replacing finance; we're integrating it
The Deus X CEO discussed his journey into digital assets, the company's infrastructure-led growth strategy, and why his Consensus Hong Kong panel promises "real talk only."
What to know:
- Tim Grant entered crypto in 2015 after early exposure to Ripple and Coinbase, drawn by blockchain’s ability to improve traditional finance rather than replace it.
- Deus X combines investing and operating to build regulated digital finance infrastructure across payments, prime services, and institutional DeFi.
- Grant will be speaking at Consensus Hong Kong in February.
Top Stories
