Altcoins

Will Polygon Be The Amazon Of Altcoins By The End Of 2022? MATIC Price Surge To $7 Imminent This Cycle?

Written by: Qadir AK

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Qadir AK

Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

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Jan 22, 2022

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Highlights

    Polygon network welcomes major brands from the fashion world to co-develop NFTs.

    Proponents from the industry remain bullish on Polygon with its sound fundamentals.

The crypto world has been generous to a host of emerging protocols. That has been burning the midnight oil to make it to the summit. While the market continues to reside in prolonged corrections and falls. A handful of protocols have been counting the praises of individuals and institutions.

One among those protocols is Polygon which is leaving no stones unturned to rise to prominence, despite its prices facing the bears. In a recent update, Polygon network welcomes a coalition of two major brands to co-develop NFTs. Which further helps the network add another feather to its cap. In the interim, proponents from the business remain bullish on Polygon’s future with its strong fundamentals.

Polygon’s Boast Worthy Achievements? 

Polygon has been thriving in the mainstream adoption of NFTs at an astounding rate, by empowering major NFT collections. In a recent update, the firm welcomes Italian fashion brands Prada and Adidas in a tie-up launching a collection of NFTs. Which will be built on Polygon’s network. The initiative would use the recent Re-Nylon collection to co-create a large-scale digital artwork piece.

Savvies of the brands would be able to submit their pictures to the Polygon network. With 3000 pieces set to be minted individually as NFTs. The network has achieved a remarkable feat with more than 500k domains being minted on the network. With bigger names such as Facebook and Instagram expected to empower NFTs, the space would further fuel protocols.

Is Polygon’s Odyssey To The Top-10 League Programmed?

The diverse sectors of the industry such as NFTs, gaming, and DeFi have been taking off from the platform. Polygon had hit all-time-high daily active users earlier this month. Proponents from the industry are bullish on Polygon’s future with its sound fundamentals.

Successively, Polygon’s interest in ZK-Rollups is widely known in the industry. Polygon’s Plonky2 recursive SNARK is claimed to be 100X faster than existing alternatives and natively compatible with Ethereum. The tech can help generate a recursive proof in 0.17 seconds on low-cost hardware such as a laptop.

Polygon has made laudable achievements in a short period of time. In a recent interview, the co-founder of the firm had cited the aim to become the Amazon Web Service of Web 3.0. The network with its PoS, SDK, ZK-Rollups aims to achieve the feat, by modulating the prerequisites as per the needs and demands of developers. 

Summing up, the collaborations with globally recognized brands give Polygon exposure to a host of avid users of the brands. While influencing other brands in the industry to join the evolution. On the other hand, the EIP-1559 with its burn mechanism has been fueling Polygon’s future. That said, Polygon is certainly a must-buy for the long run.  

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Qadir AK

Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

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