In this episode of Around the Blockchain, the panel discusses Polygon and Solana, their VCs, and similarities in their levels of centralization. Polygon has 10 times more VC involvement than Solana with thousands less validators, while Solana has FTX chain. The panel believes that VC funding is necessary for projects to get off the ground, and Polygon’s success is evidenced by its partnerships with DraftKings, Stripe, Reddit, Walt Disney, Adidas, and NFL, among others. Ultimately, both Polygon and Solana are young and have potential to make investors a lot of money, and the panel suggests investors consider investing in both.
Polygon and Solana: Exploring VC Funding and Centralization
Welcome to “Around the Blockchain” where we explore the latest crypto news. In this episode, we focus on Polygon, Solana, DAP Exodus, and BNB revenue. Our panel consists of Rice TVX, Brad Varnell from Infinite Crypto, Altcoin Daily, and Peruse.
Before diving into the main topics, our panel takes a look at the market watch and Bitcoin’s current state, slightly down 0.9% at $16,800. We then shift our focus to Polygon and Solana. Polygon, currently down 4%, is still in the top 10 with a price of $0.89. Meanwhile, Solana, which was once a top 6-7 coin, has now dropped to 15th place, currently priced at $13.55.
Interestingly, Polygon’s co-founder and CEO, through Twitter, debunked claims that Solana is a VC coin. He argued that Polygon is the real VC coin with 10 times the VC involvement compared to Solana. Our panel examines why Solana is widely perceived as a VC coin while the same is not thought of Polygon. Altcoin Daily suggests that the key difference might be the presence of ETH influencers in Polygon’s seed rounds, contributing to a more positive perception.
Next, we discuss the issue of centralization and the similarities between Polygon and Solana. Brad posits that for investors, both have the potential to grow and make money but encourages them to diversify their portfolio and invest in both.
Finally, we touch on the inevitability of VC funding for any successful project. Peruse adds that while VC funding is a norm, the numbers have grown with the success of both Polygon and Solana. Real-world partnerships like DraftKings, Stripe, Walt Disney, and Adidas, which Polygon has procured, are also derived from VCs.
In conclusion, this episode highlights Polygon, Solana, and the role of VC funding and centralization in their success and perception.