Sandeep Nailwal is known as the co-founder of the Polygon Network. The Indian businessman and software developer also set up the COVID-Crypto Relief Fund in his home country. As of 2024, Nailwal’s estimated net worth is $1 billion and he is one of the first crypto billionaires in India.
Background
Nailwal was born in Delhi, India and growing up he was a bright pupil. He got a degree in Finance and Supply Chain Management from the National Institute of Industrial Engineering in 2014. Later, he went on to get a masters degree in Business Administration.
After university, Nailwal started a career in software engineering and worked for Deloitte in consulting and program management. From 2015 to 2016, he served the Head of Technology and Supply Chain for the Welspun Group.
The software developer’s first venture in the blockchain space was co-founding ScopeWeaver.com in 2016, a decentralized app development company. Nailwal was the company’s CEO until October of 2017.
Co-Founding Polygon
Jaynti Kanani, Anurag Arjun, and Sandeep Nailwal were the three founders of Polygon, originally the Matic Network. In 2017, they developed a proof of concept and began creating the product in April 2018 after raising money from close friends.
Polygon is a blockchain platform that helps networks such as Ethereum to scale. The platform allows users to create applications for a fraction of the cost of ETH. Their token is called MATIC, and its market capitalization is around $10 billion.
This was the main reason why the founders of Polygon became the first Indian crypto billionaires. Despite the fact that Kanani came up with the idea, Nailwal has also spent time on other initiatives.
Crypto Covid Relief Funds
On April 24, 2021, Sandeep launched a covid relief fund in India. It is the outcome of the global crypto community banding together to assist the third-world country in combating the virus outbreak and preparing for future epidemics.
Vitalik Buterin donated over 50 million Shiba Inu coins to Sandeep’s relief fund. This was a great help, but it raised some concerns. India keeps a close eye on foreign inflows. Plus, it’s not easy to put the fate of a densely populated country into a meme coin.
But Sandeep had the solution for this and stated that his fund has already discovered an organization to convert the contributions into rupees. They also found an aid recipient who complies with the nation’s Foreign Contribution Regulation Act.
Personal Life
Sandeep is currently focused on improving Polygon’s platform and charity work. In terms of his personal life, no reports of him being in a relationship have surfaced in the media. But his personal investments are a different story.
As a new billionaire, Sandeep Nailwal has made roughly 30 investments and it is reported that he invested $7 million into Mana Interactive in December 2021. His net worth is expected to remain close to a billion dollars as a result of his diverse portfolio.
