- Polygon Labs partners with SK Telecom for Web3 growth and startup incubation.
- The platform’s stability and upcoming Polygon 2.0 upgrade suggest favorable trends, potentially reversing recent declines and driving growth.
Polygon Labs has initiated a collaboration with South Korea’s prominent mobile industry leader, SK Telecom. This partnership aims to cultivate Web3 environments and spot potential startups for nurturing. The two enterprises officially sealed this agreement at SK Telecom’s main office in Seoul.
SK텔레콤이 폴리곤랩스와 Web3 생태계 협력을 위한 전략적 파트너십 MOU를 체결했습니다. 탑포트(TopPort)와 Web3 지갑이 폴리곤 블록체인 네트워크를 지원하고, Web3 서비스들이 폴리곤 글로벌 생태계와 결합할 수 있도록 할 예정입니다. ▶ https://t.co/xdjEHlqOup#SK텔레콤 #블록체인 pic.twitter.com/gxg02XoCpI
— SK telecom (@SKtelecom) August 17, 2023
Oh Se-hyun, Vice President and Head of Web3 CO at SKT, and Marc Boiron, CEO of Polygon Labs, attended the signing event. Boiron expressed:
We see this collaboration with SK Telecom as an important step in providing Web3 experiences to more consumers.
The Vice President of SK Telecom also stated that:
By combining our experience in blockchain services and Polygon Lab’s blockchain infrastructure and ecosystem, we will be able to create valuable business opportunities and boost the Web3 ecosystem.”
Advantages of the Polygon (MATIC) Collaboration with SK Telecom
One of this collaboration’s key focal points involves identifying and incubating promising startups operating within the Web3 sector. The two companies will also facilitate the entry of global startup ventures into the South Korean market and the introduction of leading worldwide decentralized applications (dApps) into the local Korean industry.
SK Telecom’s NFT (non-fungible token) marketplace, known as TopPort, is gearing up to integrate with the Polygon (MATIC) blockchain. Through this partnership, TopPort will enable users to create Polygon-based NFTs, ensuring compatibility and scalability across other NFT platforms within the Polygon ecosystem. SK Telecom’s slated release of a web3 wallet in the latter half of 2023 will seamlessly interface with the Polygon network and incorporate NFT trading features.
Partial Decline in Matic Metrics and Revenue
During the preceding quarter, essential network metrics for Polygon (MATIC) stabilized, suggesting a temporary pause in its expansion. The total value held within the blockchain also experienced a partial decrease in recent weeks.
Nonetheless, a significant upcoming update in the blockchain’s roadmap may lead to a reversal of this trend, potentially favoring Polygon’s trajectory in the coming months. Artemis‘ data analysis revealed that specific vital network statistics, such as the count of active addresses per day, exhibited little to no change during a three-month period. Moreover, the daily transaction volume displayed only marginal fluctuations, failing to show significant upward movement.
While this signified consistent network operation, it also implied a pause in the blockchain’s expansion. A minor decrease was observed in relation to the blockchain’s fees and earnings. Nevertheless, in the upcoming months, NFT holds the potential for a positive shift in Polygon’s trajectory, as the platform has some undisclosed strategies that could bring about favorable developments.
Polygon 2.0 Holds Transformative Potential
In the crypto realm, a recent revelation named Polygon 2.0 can revolutionize the landscape. Polygon recently unveiled its forward-looking move, titled Polygon 2.0, which carries significant promise and could propel MATIC’s expansion significantly in the upcoming months. A recent tweet by Today In Polygon underscored a handful of positive aspects and merits associated with this upgrade. One of the foremost enhancements is the establishment of the Polygon 2.0 Community Treasury.
Polygon Labs has proposed an exciting new token upgrade: The POL token
At the heart of this token evolution lies the introduction of the Community Treasury.
Let’s explore the details directly from the Polygon POL whitepaper…
(2/11) pic.twitter.com/cHCy1rhSLc
— Today In Polygon (@TodayInPolygon) August 12, 2023
The Community Treasury represents a pioneering ecosystem fund integrated within the protocol, guided by community governance. Its purpose is to deliver three key benefits to the blockchain: self-sustaining economic reinforcement, bolstered decentralization by reducing reliance on the Polygon Foundation, and heightened transparency coupled with active community engagement.
As the blockchain’s capabilities progress and achieve greater transparency, it can attract fresh users, stimulating its expansion. A notable transformation will also involve the debut of POL, the successor to MATIC. The blockchain envisions POL as an instrument for orchestrating and nurturing ecosystem development.
- Invest in Polygon and 70+ cryptocurrencies and 3,000 other assets.
- 0% commission on stocks – buy in bulk or just a fraction from as little as $10.
- Copy top-performing traders in real time, automatically.
- Regulated by financial authorities including FAC and FINRA.
2.8 Million Users
Get Started
Crypto News Flash does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to cryptocurrencies. Crypto News Flash is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned.
Credit: Source link
