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Hey Waivly Crew! 🌊 Polygon has raised $450 million in a funding round led by Sequoia Capital India. On Monday, Tesla said its bitcoin holdings were worth $1.99 billion as of December 31st, after investing $1.5 billion into the cryptocurrency in early 2021. 

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Polygon raises $450M in latest funding round

Layer-2 scaling solution Polygon has raised $450 million in its first major funding round led by Sequoia Capital India.

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The investment round saw participation from over 40 venture capital funds, including SoftBank Vision Fund 2, Galaxy Digital, Galaxy Interactive, Tiger Global, Republic Capital, along with well known investors like Alan Howard and Kevin O'Leary, a big supporter of all things Web3.

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The funds were raised through a private sale of Polygon’s native MATIC token, which rose by over 16% on Monday to a high of $1.97. According to a spokesperson, the round takes Polygon’s public valuation to $2 billion.

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Polygon will use the funding to expand its scaling solutions, including Polygon PoS, Polygon Edge, and Polygon Avail, and support mainstream adoption of Web3 applications.

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This isn’t just a claim, as Polygon has already spent nearly $1 billion acquiring key technologies and firms to power the future of Web3.

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“Previously at MATIC Network, we were building Plasma solutions,” he said. “Although 10 to 15 teams raised money on the Plasma hype, we were the only team that shipped a proper product with Plasma capabilities.” Polygon co-founder Sandeep Nailwal told TechCrunch.

Tampa Bay home auctioned off as first real estate NFT

A Tampa Bay home in Gulfport will be auctioned off today as the first piece of U.S. real estate to be auctioned as an NFT.

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Palo Alto-based real estate technology company Propy will have the property rights minted as a digital token and host an online auction. Bidding for the home located at 315 11th Ave. S will start at $650,000.

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Leslie Alessandra, local real estate investor and the founder of cryptocurrency company DeFi Unlimited, transformed the home’s certificate of authenticity into an NFT by turning the ownership into a limited liability corporation.

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"You're essentially just selling a company, and a company owns that house," Christopher Vasilakis, a local real estate, and virtual reality expert, told the Tampa Bay Times.

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Local artist Derek Donnelly, also known as Saint Pete, will design an NFT of an indoor mural on one of the property’s walls as part of the auction.

The Waves

👀 5 NFT collections with unlimited potential

📱 Leak confirms Samsung's Galaxy Tab S8 lineup

📅 Recapping The Past Week In Crypto: Jan 31st to Feb 6th

🎉 KPMG in Canada makes first direct crypto investment

Creator Special

Can·di

Can·di makes artisanal hard candy by sculpting hot sugar into various designs. It is the team's passion to bring a bit of magic to hard candy, which is an often overlooked and underappreciated snack. Making everything by hand allows Can·di to personally work with every piece of candy and take pride in striving to create edible art.

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ThisGuysGameLife

ThisGuysGameLife is a Twitch streamer that streams plays games like Mortal Kombat 11, GTAV, Destiny, as well as reacting to movies and series'. You can find him streaming Monday-Friday at 8 PM EST.

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Lemnuel

Lemnuel is a Romanian-based arts & crafts small business that creates small, colourful art pieces on mostly wood along with other mediums.

Tesla is holding around $2 billion in Bitcoin

Over the weekend, Elon Musk’s electric vehicle company Tesla filed an annual report with the U.S. Securities and Exchange Commission (SEC), revealing it held about $2 billion worth of Bitcoin as of December 31st.

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The company first invested a total of $1.5B in bitcoin last February and later registered around $101 million in impairment losses due to bitcoin’s value.

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"In the year ended December 31, 2021, we recorded approximately $101 million of impairment losses resulting from changes to the carrying value of our bitcoin and gains of $128 million on certain sales of bitcoin by us," the filing said.

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Tesla has had a rough relationship with bitcoin. Not long after the investment was revealed, Musk announced Tesla would accept Bitcoin as a form of payment to purchase its electric vehicles. By May, Musk went back on this due to concerns surrounding the environmental impact of bitcoin mining.

Own and secure your crypto with Ledger

If you’re into cryptocurrency and own crypto assets, you need a secure place to store your coins and tokens. You probably already know that you shouldn’t store your crypto on an exchange due to potential hacks, not being solely in control of your crypto’s private keys, and for other reasons, and so a hardware wallet is the way to go and the best option to protect your private keys, therefore, you should make the move to a Ledger wallet.

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Ledger wallets are an extremely secure and premium way to secure, manage, and grow your crypto assets with their Bluetooth-enabled hardware wallets, and easy-to-use app which lets you manage your portfolio on the go. They let you manage multiple assets, buy, sell, grow, and exchange crypto, gain financial freedom by you being in full control and ownership of your private keys, and so much more.

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The wallets are really simple to setup, and to move your crypto over to, so there’s no reason not to secure your assets and take control of your cryptocurrency now and get yourself a Ledger device. You can manage 1800+ coins and tokens directly in the Ledger Live app once you’ve got your device up and running, so you’ll always have your entire portfolio covered.

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