Polymarket Eyes $50M Token Sale After Raising $45M Series B From Founders Fund, 1confirmation

Polymarket is reportedly in talks to raise over $50 million in new funding, which is likely tied to a potential token launch, first reported by The Information.

Key Takeaways

* Polymarket is reportedly in talks to raise over $50 million in new funding, which could be tied to a potential token launch.

* The blockchain-based prediction market has become popular for betting on high-profile events like US elections, federal rate cuts, the Super Bowl, and whether FTX’s Caroline Ellison will be sentenced to prison.

* Polymarket allows users to wager on the outcomes of a wide variety of scenarios, from political elections to pop culture phenomena, all powered by blockchain technology.

* Polymarket is also considering a token launch worth more than $50 million to help operate its crypto betting platform, according to The Information, which cites anonymous sources.

* As noted in the report, investors in the round will receive token warrants, which grant them the right to purchase tokens if Polymarket launches them at a later date.

* Sources also suggested that these tokens could be used to validate the outcome of real-world events. However, no final decision has been made on the token launch, and there is no guarantee it will happen.

* In addition to these token launch plans, Polymarket raised $45 million in a Series B funding round earlier this year, led by Peter Thiel’s Founders Fund, with participation from 1confirmation, ParaFi, and Ethereum co-founder Vitalik Buterin, among others.

The above is the detailed content of Polymarket Eyes $50M Token Sale After Raising $45M Series B From Founders Fund, 1confirmation. For more information, please follow other related articles on the PHP Chinese website!