Polygon (MATIC) Network Expands Thanks To Larger Adoption
Polygon (MATIC) has expanded throughout the last year, but things continue to be very positive for this blockchain network. Polygon has received support from a large number of companies and firms from all over the world including Switzerland’s Postal Service or Dolce & Gabbana NFT collection.
Polygon Blockchain Network Expands
Polygon continues to expand as a scaling solution for Ethereum (ETH) with new projects being launched on top of it. For example, the Italian luxury fashion company Dolce & Gabbana launched a new non-fungible token (NFT) collection on top of Polygon using the UNXD marketplace.
This is one of the examples of how Polygon is attracting companies and large firms to its ecosystem. The NFT collection has been sold for 1,885 ETH, worth $6.5 million at the time of writing.
But this was not the only large initiative to be launched in recent weeks on top of the Polygon blockchain. Indeed, Switzerland’s Postal Service has also been working with Polygon to launch the first crypto stamp in the country.
This initiative includes a crypto stamp that has a related physical image. Both stamps can be collected and also be exchanged and traded online. This is one of the latest initiatives promoted by a non-blockchain company in which they want to bridge the gap between physical stamps and online collectables.
Swiss Post has a tradition of launching original stamps with different designs each year. The stamps are made from different materials and can be purchased by the general public. However, this time would be the first in which they launch a new digital stamp on top of Polygon.
Each of the designs would be a non-fungible token that would be stored on the Polygon Blockchain. This is something that we have seen in the past with other collectables and initiatives in the cryptocurrency market.
Polygon is among the largest blockchain networks in the world. It is currently the 22nd largest virtual currency and it has a market capitalization of $8.96 billion. Each coin on this network is being traded at around $1.33.
Polygon has been created as an easy-to-use platform for Ethereum scaling. Thanks to Polygon SDK, the network is able to handle a large number of applications and solutions that make it a powerful alternative to other blockchain platforms. Polygon is basically making Ethereum a full-fledged multi-chain system.
Source: Read Full Article
