Global Partnerships of Polygon has formed a Winning Streak in 2022!
Polygon (Formerly Matic Network) is a scalable layer-2 solution on the Ethereum network that was developed in 2017 by an India-based startup. The network has $MATIC as its native cryptocurrency, which has been in widespread circulation, with a market cap of more than US$7 billion. The network was initially looked upon as an extended market of Ethereum, although the perspective has immensely changed in 2022. The reason for such changes is that the network has joined hands with multiple big names to host their ventures in the blockchain world and impact the Web3 ecosystem for the better. All these partnerships given below have been finalized irrespective of the crypto market’s current gloomy trend.
Disney — Accelerator Program
Recently, the entertainment conglomerate Walt Disney Company announced that it had chosen Polygon as one of the six companies to participate in its accelerator program for 2022. The company stated that the program this year aimed to work with ventures to explore mechanisms such as non-fungible tokens (NFTs), augmented reality (AR), and artificial intelligence (AI). The official blog on the Disney website called Polygon is “a scalable blockchain network that allows developers and enterprises to build Web3 experiences.”
Reddit — Avatar Marketplace
The global social media network Reddit announced that its collectible avatar NFT marketplace would be hosted on the Polygon network. The NFTs bought can be managed on the in-built Vault crypto wallet and used as profile pictures on the platform. Users can buy the NFT avatars on the Avatar Builder for fixed rates using fiat tender, hence avoiding unnecessary fuss around auctions and subsequent gas fee wars. The prices are fixed at $9.99, $24.99, $49,99, $79.99, and $99.99.
DraftKings — NFT Marketplace
The fantasy sports platform DraftKings has announced that its NFT marketplace platform will be hosted on the Polygon network. The NFT marketplace portal will be used to buy NFTs of famous athletes. It has partnered with Tom Brady’s Autograph NFT platform, including Naomi Osaka, Derek Jeter, Simone Biles, and Wayne Gretzky. The deal also includes Polygon Studios, the mastermind behind the Zed Run virtual horse racing game, which has raised many eyebrows about the possibility of a gaming partnership coming soon.
Meta — Avatar Marketplace
Meta (Formerly Facebook) has rolled out an avatar-based NFT marketplace on Instagram (on selected regions) on Polygon recently as part of their mission to expand into the virtual world. Instagram already has the feature where creators can flaunt their NFTs on their feeds by connecting their crypto wallets based on multiple blockchains. The avatar marketplace under trial run is seen as a closer take to Meta’s metaverse dreams. It should be noted that avatars on Instagram are already available in many regions.
Stripe — Global Payments
The global fintech firm, Stripe has announced that it will pay creators of its community in cryptocurrencies, partnering with Polygon for the purpose. According to the firm, it had chosen Polygon for its payout process since the blockchain has low fees, high speeds, integration with Ethereum, and compatibility with various crypto wallets. Before having the full system rolled out for service, Stripe will pilot the solution with Twitter to pay its creators in USDC, a crypto stablecoin pegged to the US Dollar.
Closing Thoughts
Hence, we can say that 2022 has been the year for the Polygon network, which has benefited solely due to its founders’ visionary of supporting Ethereum with a scalable blockchain solution long back. If you are someone looking to venture into Web3 with a business platform, Polygon might be a great choice.
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