Disclaimer: The text below is a press release and is not part of Cryptonews.com editorial content.
Polygon’s best days are yet to come.
In the midst of the bearish crypto winter and all the woe for cryptocurrencies and the future of NFTs, Polygon Technology had a hot summer. Since hitting its low in June, it has rebounded over 170% to $0.87 (MATIC -0.52%). While we’ve seen tremendous adoption, it’s still early days for the EVM-enabled chain, with its best days yet to come.
Earlier this year, Polygon raised $450 million in its latest funding round, with a market capitalization of around $13 billion, to aggressively expand its portfolio of Ethereum scaling solutions and s striving to attract traditional brands and the largest ecosystem of blockchain developers. This funding round was led by Sequoia Capital India and included big names such as SoftBank, Tiger Global and Animoca Brands, among 20 others. They have since made good use of their funds.
Polygon, the privileged partner of Top-Tier brands
Over the past few months, we’ve seen household names partner with Polygon, leveraging their technology to launch into Web3. Leading brands such as Coca-Cola (Coca-Cola Co +0.35%)Reddit and Starbucks (SBUX +6.10%) launched their NFTs and, in the case of Starbucks, their NFT loyalty program within the network.
Polygon, which counts Mark Cuban among its backers, has also targeted the booming gaming industry, and we’re seeing young and up-and-coming game companies such as JEDSTAR Games recently launched their Dynamic NFTs or, more specifically, SFTs (Semi-Fungible Token) on the Polygon network, available both on their native Marketplace AGORA market and Opensea.
Enter the bull market
Clearly, we are still in the midst of a bear market, and most cryptocurrency projects, including Polygon and JEDSTAR Gaming, are still down from their all-time highs. But the resilient and consistent delivery of these projects over the past few months shows that the crypto winter may be melting.
In fact, despite market conditions, things are looking pretty optimistic for projects like JEDSTAR Gaming, which recently launched its paid app for gamers SILVER VOLTa native NFT marketplace, a P2E game and set to launch its highly anticipated staking platform that rewards JED holders (DED +2.8%) with regular passive income.
With their performance metrics and growing list of top partnerships, Polygon and JEDSTAR Gaming look like solid bets to return to or surpass their previous highs as the market rebounds.