Polygon Co-Founder Sandeep Nailwal Biography: Net Worth, Career, and Personal Life

Sandeep Nailwal Biography

Early Life and Educational Background of Sandeep Nailwal

Sandeep Nailwal was born and brought up in Delhi, India, and had humble beginnings. Having witnessed the downfall of people in his community because of no education, Sandeep was determined to pursue higher education and become a “big man”. That determination is the primary reason for becoming a successful entrepreneur as the founder of Polygon.

After failing to crack IIT, one of the most difficult exams in the world, Sandeep completed his education in National Institute of Industrial Engineering (NITIE) with a Masters in Business Administration (MBA) degree in Computer Systems Technology, Finance, and Supply Chain Management.

Sandeep’s Career Before Polygon Matic

Sandeep started his career as a Software Engineer in the Computer Sciences Corporation company and worked there for a couple of years. Later, he joined Deloitte as an Intern and then worked as a consultant and handled management consulting, program management, and others. During that time, Sandeep never thought that he would start his entrepreneurial journey and become a founder of one of the popular blockchains.

After working as a Head, Technology & Supply Chain at Welspun Group’s eCommerce division for a year, Sandeep entered the blockchain industry, which is already making waves with several blockchain networks and cryptocurrencies. By going against the conventional methods of having a secure job, Sandeep founded his first startup “ScopeWeaver” in 2016.

ScopeWeaver was one of India’s largest marketplace for professional services. It offered blockchain product and Dapp architecture development services and assisted several businesses in building decentralized applications (dApps). With ScopeWeaver, Sandeep empowered and optimized businesses with blockchain solutions. Sandeep’s experience in delivering blockchain-based solutions at ScopeWeaver laid the foundation to create a successful layer2 scaling solution, Polygon, later.

Sandeep Nailwal: Polygon Co-Founder

Ethereum was suffering from network congestion issues with the increasing adoption of its decentralized nature to build projects in 2017. Despite being capable of creating innovative projects on top of it, Ethereum couldn’t cater to its rising number of users. The scalability issue became more obvious with the craze of CryptoKitties, one of the early non-fungible token projects. 

To address the scalability issue of Ethereum, Sandeep Nailwal co-founded Polygon Matic network, along with Jaynti Kanani, Anurag Arjun, and Mihailo Bjelic. Instead of creating a new blockchain network, Sandeep, along with his co-founders built a blockchain solution on top of Ethereum, making it scalable and efficient. While Ethereum has a TPS of around 30, Polygon’s TPS is 65,000, which is significantly higher than Ethereum and helps in faster transaction processing. 

Since its launch, Polygon has witnessed incredible growth in developing scalable solutions and acquiring users. Polygon had a breakthrough year in 2021 and Polygon Price reached an all-time high of slightly less than $3 in 2021, recording a 29,000% increase. In the last couple of years, Polygon Matic witnessed several notable achievements such as Polygon going carbon neutral and launching zkEVM Testnet, Polygon Labs, and Polygon Foundation. 

Sandeep Nailwal’s Other Ventures

Symbolic Capital

Sandeep Nailwal along with Kenzi Wang founded Symbolic Capital in 2022 to assist potential crypto, blockchain, and Web3 companies with funding. It raised a total of $50 million in funding for investments in Web3 companies within 3 months. Sandeep specifically mentioned that Symbolic Capital is focused on funding the Web3 projects, from emerging countries, that could contribute to the overall growth and development of the decentralized ecosystem.

Nailwal Fellowship

To surface the bright talent that could add value to the Web3 ecosystem, Sandeep Nailwal started the Nailwal Fellowship program. It offers $50,000 to the brightest people who commit to building the future of Web3. Anyone, who is enthusiastic about building Web3 projects, can apply to this program regardless of their age, gender, or geography. The whole idea behind this program is to provide financial security to founders who would like to pursue innovative Web3 ideas.

Sandeep Nailwal Net Worth and Personal Life

Sandeep Nailwal holds a net worth of around $1 billion as of 2023. A majority of his wealth came from his position as a COO and co-founder of Polygon Matic network. A portion of his wealth also comes from his investments in companies such as Mana Interactive, Cypherock, Bulk Technology, Xalts, Juno, Magpie protocol, Carret, Cryption Network, and others.

Sandeep was married to Harshita Singh in 2019, whose support made it possible for him to start his entrepreneurial journey. Other than that, the details of his personal life are not known.

When COVID-19 shook the world, Sandeep started a Covid Relief Campaign in India and urged for the support of the global crypto community. With this campaign, he received donations from popular crypto people such as Vitalik Buterin, Balaji Srinivasan, Hubspot founders, Coinbase executives, and others.

Vitalik Buterin donated $1 billion worth of SHIB tokens and most of the donations from other people were transacted only in cryptocurrencies. With the help of this campaign, Sandeep Nailwal emphasized the potential of the crypto industry and the capability of its underlying technology. Adding to that, he majorly contributed by donating the essential medical equipment for people who were suffering from COVID-19 in India.