Polygon Co-Founder Steps Down to Pursue New Adventures
Jaynti Kanani, co-founder of Ethereum Layer-2 scaling solution Polygon, has announced on Twitter that he is stepping back from the firm’s day-to-day operations. While Kanani did not provide specific details about his new ventures, he expressed confidence in Polygon’s future and stated that he will continue to contribute to the company from the sidelines. It was revealed that Kanani actually stepped down from Polygon in March 2023, despite his recent tweet. Polygon’s other co-founder, Sandeep Nailwal, shared a heartfelt message for Kanani on Twitter, expressing gratitude for their journey together.
Polygon’s Jaynti Kanani Ventures into AI Startups
Although Kanani has not disclosed much about his future projects, his LinkedIn profile shows that he founded two new firms: “Mozak” in April 2023 and “Morphic” in June 2023. Details about Morphic are limited, but the company’s LinkedIn page suggests a focus on creating innovative content using technology. However, Abhinav Vishwa, CTO at Morphic, mentioned in a LinkedIn post that they are working on something exciting at the intersection of Generative AI and Media.
Is Kanani Shifting Focus Away from Web3?
The rise of Generative AI has attracted significant attention this year, with tech giants like Google and Amazon investing heavily in the field. As a result, investors and companies have been diverting their attention from Web3 towards Artificial Intelligence. This shift is reflected in funding trends, where global AI and machine learning funding has increased while crypto funding has decreased. However, it seems that Kanani may still be involved in the crypto industry through Mozak, which aims to create a trustless platform for the new web.
Hot Take: Jaynti Kanani’s Departure Marks a New Chapter for Polygon
Jaynti Kanani’s decision to step back from his day-to-day responsibilities at Polygon marks a significant milestone for the company. While the specifics of Kanani’s new ventures remain unknown, his departure raises questions about the future direction of Polygon and its involvement in the AI and Web3 sectors. As the crypto industry continues to evolve, it will be interesting to see how Polygon adapts and thrives under new leadership.
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