Observed Signal · Feb 9, 2023 · Partnership · Source: Trending Topics · Impact: 2/5 · Sentiment: Positive
Polygon: Web3 Rising Star Balances Corporates and Climate Protection
Polygon, the Ethereum layer-2 scaling solution formerly known as Matic Network, is gaining corporate adoption in 2023 despite the crypto winter. The platform reports 220 million wallet addresses and $2.45 billion in transaction volume, of which $1.76 billion is NFTs. Polygon's sidechain reduces transaction fees to about $0.015 versus $0.80 on Ethereum. The network is testing its zkEVM upgrade, promising an additional 90% cost reduction. Corporate clients using Polygon include OpenSea, Reddit, Samsung, Starbucks, Robinhood, Instagram, Mastercard, Rarible, and Magic Eden, alongside environmental nonprofit WWF. Polygon is also pushing 'ReFi' (Regenerative Finance) for blockchain-based CO2 certificates and claims to be CO2-neutral. The startup has raised several hundred million dollars from investors including Sequoia Capital, SoftBank, Galaxy Digital, Tiger Global, Republic Capital, Binance, and Coinbase.
Highlights growing enterprise and brand adoption of Polygon's Web3 infrastructure for NFTs and loyalty programs, relevant to marketers exploring blockchain-based engagement; moderate industry impact.
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Key Takeaways & Evidence Grounding
- Polygon, formerly Matic Network, is an Ethereum Layer-2 sidechain launched in late 2017.
- Polygon claims 220 million wallet addresses and $2.45 billion in transaction volume, with $1.76 billion from NFTs.
- Corporate clients using Polygon include OpenSea, Reddit, Samsung, Starbucks, Instagram, Mastercard, and others.
- Polygon's zkEVM upgrade is in testing and promises 90% cost savings.
- Investors including Sequoia Capital, SoftBank, and Binance have invested several hundred million dollars in Polygon.
Connected Companies & Entities
11 Entities mapped“Polygon Labs zufolge würde eine Transaktion über die Sidechain lediglich 0,015 Dollar kosten...”
“OpenSea: Unterstützung für NFTs auf Polygon...”
“Reddit: Avatare als NFTs...”
“Starbucks: Treueprogramm für Kund:innen (Beta)...”
“Robinhood: Web3-Wallet in Kooperation mit Polygon...”
“Instagram: Unterstützung für NFTs auf Polygon...”
“Mastercard: Accelerator für Web3-Musik gemeinsam mit Polygon...”
“Bisher investierten Sequoia Capital, SoftBank, Galaxy Digital von Michael Novogratz, Tiger Global, Republic Capital, Binance oder Coinbase z...”
“Bisher investierten Sequoia Capital, SoftBank, Galaxy Digital von Michael Novogratz, Tiger Global, Republic Capital, Binance oder Coinbase z...”
“Bisher investierten Sequoia Capital, SoftBank, Galaxy Digital von Michael Novogratz, Tiger Global, Republic Capital, Binance oder Coinbase z...”
“Bisher investierten Sequoia Capital, SoftBank, Galaxy Digital von Michael Novogratz, Tiger Global, Republic Capital, Binance oder Coinbase z...”
Ontology Mapping & Concepts
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