Founded by a group of Indians Sandeep Nailwal, Jaynti Kanani, and Anurag Arjun, Polygon has become the most preferred layer-2 chain for investors & businesses. Launched in 2017, the project has inked some interesting & noteworthy partnerships.
It has raised a solid $450 million from Sequoia Capital India in the month of Feb 2022 to scale up its efforts on the Ethereum chain. Just to give you a hint, it was a barter deal involving exchanging an equal value of MATIC tokens (even VCs know its potential).
Despite the downturn & Etherume 2.0 Upgrade, Polygon is making waves with the following partnerships that can take MATIC to the moon. Let’s take a look at the top partnerships –
1. Polygon Partnership with Starbucks:
Starbucks, the leading coffee chain has partnered with Polygon to allow its members purchase and collect Polygon based NFTs. The NFTs are digital stamps that are part of the Starbucks web3 experience called Odyssey. They are unique and verifiable on the blockchain.
The owners of special NFTs will have a chance to win special rewards like Starbucks merchandise, access to virtual classes, international travel and much more. Customers can purchase the NFTs directly from the NFT marketplace. A part of the revenue generated from the sale of NFTs will be used to support the NFT creators.
The deal is valid for US customers only.
2. Nothing Partnership:
Nothing is London based consumer electronics company founded by Carl Pei, the founder of the OnePlus Android Smartphones. It is backed by Google Ventures and has partnered with Polygon network to bring web3 technology to its smartphone.
The company has launched NFT community Dots which can be purchased from the OpenSea marketplace. The technology used to access NFTs & the wallet is backed by Polygon technology. Marking the entry of MATIC into the smartphone market after Solana SAGA smartphones by Solana.
3. Infosys Partnership:
Infosys is one of the Big IT giants in India founded by N.R. Narayana Murthy in 1981. Polygon has partnered with its Consulting arm that will help enable Infosys provide disruptive technology to its clients. The joint collaboration is called M-Setu (Setu means bridge in Sanskrit) which will allow enterprises to cross-operate using the Ethereum blockchain.
It’s the first time that Polygon has collaborated with an Indian IT company that has clients across the globe including US & UK. By providing an open-source bridge (M-Setu), it has opened itself to global exposure in the IT sector.
4. Partnering with Trace Network Labs:
Trace Network Labs aims to enable on-chain proof of transactions to be used as reference information on an enterprise level. In short, it’s an enterprise-grade NFT-based DeFi protocol that wishes to harness the capabilities of composable smart contracts to enable permissionless financing options backed by DeFi, targeting lifestyle brands.
Polygon will help Trace Network to harness NFT and DeFi capabilities by leveraging its Layer 2 infrastructure. For example, if a fashion brand like Gucci wanted to make NFTs, Trace network and polygon will provide them with liquidity aggregation, transparency and supply chain traceability.
5. The Gaming Partnerships:
Polygon has partnered with multiple blockchain games like Moon Nation, Revolving games and more. It has become one of the most preferred layer-2 chains to run on-chain transactions and NFT sales.
Polygon assists Ethereum based blockchain games to reduce the gas fees. Moreover, it has become the platform for launching game NFTs.
This completes my post on Polygon Partnerships. Stay tuned for updates. In the next post, I will talk about WetSpace & Burger Runner (BUSD) game. 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.
Cryptocurrency is a highly volatile market. All the information shared in the post is for knowledge purpose only. By no means, it’s financial or investment advice. Readers are responsible for their own investment decisions and should only invest in cryptocurrency after proper research.
Paras is a blockchain writer & video creator at Katoch Tubes. In his free time, he loves watching space exploration documentaries & Hollywood movies.