Polygon: the crypto favorite among big companies
Polygon is increasingly in the news for high-profile collaborations.
Polygon is increasingly in the news for high-profile collaborations. Polygon (MATIC) aims to make transactions on the Ethereum network faster and cheaper as a Layer 2 solution. To do this, Polygon uses so-called sidechains that run in parallel to the Ethereum blockchain. Polygon performs ‘off-chain calculations’ to reconnect them to the main network. This reduces the load on the Ethereum network. In short: Polygon wants to make Ethereum easier and faster for the masses. This scaling solution has recently had a few successes. Companies from a wide range of industries have partnered with Polygon. Here is an overview of the top projects.
1. Music NFTs: Warner Music Group
Probably the most recent collaboration Polygon has entered into is with Warner Music Group and e-commerce company LGND. This collaboration aims to create a Web3 music platform where people can play and trade NFT tracks. The launch is planned for 2023. In the future this feature may be available for other blockchains.
2. NFTs as fashion accessories: Adidas and Nike
More and more apparel companies are slowly entering the world of virtual fashion. The sneaker manufacturers Adidas and Nike are examples.
Alongside luxury label Prada, the Herzogenaurach-based sportswear maker launched an NFT fashion collection built on Polygon. The digital accessories were auctioned on the NFT marketplace SuperRare. Meanwhile Nike, with Polygon’s help, launched its own Web3 platform where users can trade virtual garments.
3. NFTs on social media: Meta
About a month ago, Meta announced it was launching its own NFT marketplace on Instagram. In the future it should be possible to create NFTs via Instagram and Polygon and then trade them.
Initially the feature will roll out only in the United States. Other regions are on the agenda.
4. NFT loyalty program: Starbucks
The popular coffee chain has teamed up with Polygon to run a loyalty program. Starbucks customers receive their loyalty points as NFTs. The NFTs in the so-called "Starbucks Odyssey" program can be earned as rewards, but can also be purchased, according to the official announcement.
5. NFT Avatars: Reddit
In July this year, Reddit integrated NFTs. Since then it’s possible to mine your avatar on the Polygon blockchain. It can then be traded on NFT marketplaces, for example. About 2.9 million Reddit users now have such a token. Trading volume since July is around $6 million.
6. Accelerator Program: Disney
Polygon and six other companies are honorary guests at the Disney Accelerator. The program is designed to help innovative companies and projects grow further.
"The Disney Accelerator class this year is focused on building the future of immersive experiences, specializing in technologies like augmented reality (AR), non-fungible tokens (NFTs), and artificial intelligence (AI)," according to Disney’s official announcement.
Polygon can expect not only monetary support but also the expertise of people with industry experience.
7. Crypto on the Nothing Phone
To launch the Nothing Phone, the British tech startup rolled out an NFT collection on Polygon.
Months ago it was also said that it should be possible in the future to access Polygon’s games, apps, and payment features with a smartphone.
8. NFTs with Photoshop: Adobe
The gold standard in graphic design is finding its way into the blockchain world: Adobe’s social media platform Behance announced a collaboration with Polygon. This should enable users to post NFTs directly on Behance.
9. Sports NFTs: National Football League (NFL)
The American football league explored NFT possibilities in ticketing last year.
The NFL also launched its own collection on Polygon. The NFTs are digital tickets that show different animations in the form of short videos and are meant to bring back specific memories.
10. And soon YouTube too?
Recently there was chatter about a potential collaboration between Polygon and YouTube on Twitter. While there’s been no further evidence of a partnership since, the rumors are growing louder.
