Polygon has become one of the most preferred layer 2 scaling solutions on the Ethereum Network. The chain has its own consensus mechanism and uses rollups to ease the load of Ethereum while maintaining security & low-gas fee transactions.
Launched in 2017 and developed by Sandeep Nailwal, Jaynti Kanani, and Anurag Arjun, Polygon has come a long way since then. From raising investments to becoming a key partner in the web3 smartphone space, here are the latest updates which will make you believe in the MATIC token.
Polygon Partnership with Nothing:
Nothing is a consumer electronic company founded by Carl Pei, the founder of the OnePlus Smartphone. The company is backed by Google Ventures and has launched its first web3-powered mobile device named Nothing.
The company also launched its own NFT called Nothing Community Dots. The NFT can be purchased from the OpenSea marketplace. Since it’s a web 3 smartphone, the technology used to access the NFT & the Ethereum or Polygon wallet is backed by Polygon technology. Marking the entry of MATIC into the smartphone market.
Checkout Solana SAGA. Smartphone by Solana Labs
Terra Projects Shifting to Polygon:
After the fall of Terra LUNA, most of the projects are searching for alternatives and moving out of Terra blockchain. A switch to a better, safer and more reliable ecosystem. It is believed that almost 50% of the existing project on Terra have already made a plan to switch to the Polygon network and ditch Terra 2.0.
This is big news for the Layer 2 chain since it will not only boost the ecosystem but also give much-needed attention to the Polygon network.
Disney Accelerator Program:
Polygon is among the six projects to enter into the Disney Accelerator Program. The accelerator is a business development program designed to accelerate the growth of innovative companies from around the world.
The class is focused on building the future of specialized technologies & immersive experiences. The focus areas include Non-Fungible Tokens, Artificial Intelligence & Augmented Reality.
Polygon Funding – Solid Financial Support:
Polygon is one of the most stable crypto projects when it comes to finances. It raised $450 million from Sequoia Capital India in Feb 2022 to scale on Ethereum. The fund was raised in a private sale round by exchanging MATIC tokens against the allocated value.
SoftBank Vision Fund II, Tiger Global, Accel Partners & SteadView Capital are among the leading partners & investors of Polygon.
Polygon MATIC Price Prediction:
From these developments and many others, it’s clear – Polygon is going to be the centre of attention in the next bull run. The token has already surpassed the $2.50 mark last year. With the bull run about to resume anytime, MATIC is likely to go beyond $10.
This completes my post on Polygon MATIC boom. In the next post, I will talk about the Optimism network & Algorand Partnerships. If you’re a fan of blockchain technology then do share this post on your social handles and educate everyone around you. Remember to subscribe to my YouTube channel for more informative content, released every week.
Paras is a blockchain writer & video creator at Katoch Tubes. In his free time, he loves watching space exploration documentaries & Hollywood movies.