What Happened to Polygon(MATIC) During the Last Month?

A recap on Polygon’s recent business activities

Image by Polygon

One project that has been continuously posting major partnership news and bringing hype to the crypto scene during the bear market is Polygon (MATIC), a layer 2 scaling solution that allows speedy transactions and low fees — aiming to connect and grow Ethereum-compatible projects on its platform. According to Coinmarketcap, MATIC doubled in price compared to last month, and it is now ranked #14 in market cap for cryptocurrencies.

So, what has Polygon been up to during the last 1 month?

Business Partnerships and Adoptions

1. Disney Chooses Polygon for Accelerator Program
   Polygon is one of the six companies selected by Disney to be a part of its program to develop AR, NFT and AI Experiences.
2. Coinbase supports deposit and withdrawal on the Polygon mainnet
   Soon, Coinbase customers will be able to send and receive ETH, MATIC, and USDC on Polygon. It is the first time Coinbase has enabled sending and receiving these assets on a layer 2 or sidechain project.
3. Terra projects migrate to Polygon
   Over 48 projects built on Terra, including the NFT marketplace OnePlanet and metaverse game Derby Stars, have begun their migration to Polygon and there are more to come.

“A lesson learned in the Terra collapse is that it is very wise to be on an EVM-compatible chain so that you don’t have to rebuild, so I just hope that wherever developers go, they go with EVM in mind for longevity”
— Polygon Studios CEO Ryan Wyatt

4. HTC launches a metaverse phone with Ethereum and Polygon support
A week after Solana revealed their Web3 phone “Saga”, HTC launched a metaverse phone “Desire 22 Pro” which comes with a built-in crypto wallet for Ethereum and Polygon.

5. Reddit Announces NFT-based Avatar Marketplace in Partnership with Polygon
The partnership will allow users to purchase blockchain-based profile pictures for a fixed rate

6. MATIC ERC-20 deposit/withdrawal support becomes available on Robinhood

7. Polygon sponsored the ApeFest during the NFT.NYC 2022

ESG

1. Coca-Cola plans to launch a Pride series NFT collection on Polygon
   The collection was launched to celebrate with the LGBTQIA+ community and spread the love message to charities.
2. Polygon reaches its first sustainability milestone by achieving network carbon neutrality
   In April, Polygon has pledged $20 Million to reach Carbon Negative in 2022 for sustainable development purposes. From then on, Polygon partnered with KlimaDAO by purchasing $400,000 worth of tokenized credits from the on-chain carbon market and retiring them using KlimaDAO’s offset aggregator tool.

“Our world is facing an environmental crisis, and the blockchain industry must do far more than promise to stop adding to the problem.”
— Sandeep Nailwal, co-founder of Polygon

And more?

In the recent months, there were a lot of enthusiasm and hype in the Polygon community regarding the recent news and updates in the ecosystem. The team is currently doing a great job in expanding their business, accelerating mainstream adoption, and making partnerships with numerous projects and institutions — many people are excited to see what the team is up to next, and this might just be the start.

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