Wintermute has announced today a new fund that will be used for independent development in Augmented Reality, Virtual Reality, and Augmented Reality markets. The company plans to use their existing assets, including more than $1B worth of assets, to develop VR/AR projects that utilize blockchain-based economies.
Wintermute is a prominent digital market creator. Today, the fund was created to support the development and deployment of decentralized applications on Polygon. The fund is part of Wintermute’s newly created strategic collaboration with Polygon, according to a news statement issued with.
Wintermute will invest millions in Polygon, starting with Router Protocol.
Wintermute announced a new fund to give significant development support to one of Ethereum’s most promising scaling systems. Polygon, a worldwide trading organization, has announced the formation of a $20 million fund to encourage creative initiatives that use Polygon’s blockchain network.
The company has invested in several ongoing Polygon projects, and plans to assist new ones through co-development, protocol integration and liquidity. Wintermute’s CEO, Evgeny Gaevoy, said that the business is already in talks with many Polygon projects.
“This initiative is in line with our commitment to integrating with Polygon’s most promising protocols.”
Wintermute’s first funding project is Router Protocol. This is a Polygon native cross-chain communication protocol. Router is helping to create the infrastructure for EVM and other non-EVM chains interfacing with each other. This will increase capital efficiency.
Ramani Ramachandran is the CEO of Router Protocol. He said that Router Protocol was one of the first protocols to use Polygon to facilitate fast, gas-free trade. Once the mainnet is launched, Router will be capable of enabling money movement across multiple blockchains and opening up a whole new range of multi-chain apps.
“We’re thrilled to welcome Polygon and Wintermute as investors in Router’s latest round as we build out key cross-chain communication infrastructure, which will begin with Polygon and Ethereum before moving to additional chains.”
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