Polygon co-founder Jaynti Kanani took to X (Twitter) to announce that he has stepped down from handling day-to-day responsibilities. He mentioned focusing on new adventures, but was somewhat vague on the specifics.
While the Ethereum Layer-2 scaling solution, Polygon, is progressing towards its version 2.0, one of the co-founders has tweeted about his decision to “step back” from the firm’s daily operations.
Polygon Co-Founder Wants to Focus on a New Adventure
Kanani wrote on X (Twitter):
“After kickstarting Polygon in 2017, around 6 months back, I decided to step back from the day-to-day grind.
I’m more confident in Polygon’s bright future and passionate community. I’ll be focusing on new adventures while still cheering and contributing to Polygon from the sidelines.
Bullish on Polygon 2.0!”
Though Kanani sent this tweet on October 4, he reportedly stepped down from Polygon all the way back in March 2023.
Read more: How To Buy Polygon (MATIC) and Everything You Need To Know
Polygon’s other co-founder, Sandeep Nailwal, wrote a heartfelt paean for his former partner on X. He posted:
“Man this makes me emotional. What a ride we’ve had together brother. But its just the start for Polygon, i wish we could’ve done more for longer together in this crazy journey that is Polygon. But hey, you got to do what you got to do.
Lets keep pushing Polygon ahead together, inside or outside of Polygonlabs, it doesn’t matter. Keep killing it Legend!”
Polygon’s Jaynti Kanani Founded an AI Startup
Kanani has not revealed all about his future venture. However, his LinkedIn profile shows he founded two new firms, “Mozak” in April 2023 and “Morphic” in June 2023.
Morphic’s LinkedIn page has very few details as of now. The “About” section says:
“Creating great content through innovative technology.”
However, Abhinav Vishwa, the CTO at Morphic, wrote a LinkedIn post 2 months ago, which mentioned that they are “Working on something exciting at the intersection of Generative AI and Media.”
Is Kanani Ditching Web3?
Generative AI has taken the market by storm this year with the launch of chatbots such as OpenAI’s ChatGPT and Google’s Bard. It has attracted the attention of tech giants such as Google, Amazon, Apple, and many more.
Read more: 9 ChatGPT Prompts And Tips To Craft The Perfect Job Description.
As AI became the buzzword this year, many investors and companies have been diverting from Web3 to focus more on Artificial Intelligence. As a matter of fact, crypto funding is drying up amidst the AI hype.
The chart below shows that global AI and machine learning funding has increased since Q4 2022, while crypto funding is decreasing quarter-on-quarter.
However, Kanani may not have completely abandoned the crypto industry. His other startup, Mozak, revolves around “Creating a radical trustless platform for the new web.”
The LinkedIn profile also shows that it has onboarded two employees, one being Kanani himself, and the other one is a software engineer working on zero-knowledge proofs.
Read more: What are Zero-Knowledge Proofs? Securing Growth for Web3 Apps
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