Polygon has been receiving a lot of attention lately. The scaling solution network that runs alongside Ethereum might be poised to pull away from the competition.
It’s obvious from the chart above that the network has been doing well over the past month. But Polygon’s native token, MATIC, has outpaced its increasing TVL in the DeFi space, suggesting that money is coming into Polygon for more than just the yields.
Why Polygon?
It’s not new, but it’s definitely interesting. There are a few key reasons behind the increased attention the Polygon network is enjoying.
The proof is in the Partnerships
Streaming sensation Dr. Disrespect recently launched a AAA video game studio, Midnight Society, and has partnered with the network to launch their NFTs.
Disney announced a partnership with Polygon as well. The media giant’s accelerator program chose six companies to participate, and is aimed at developing new technologies, including augmented reality, NFTs, and artificial intelligence.
An E-merge-ing Narrative
The Merge has everyone talking about Ethereum, and that excitement is spilling over into L2 solutions. As one of the leading platforms poised to profit the most from an increase in Ethereum network usage, Polygon is soaking up the excess attention.
A Virtual Playground
One of the benefits of its age, Polygon has cultivated a massive ecosystem boasting over 19,000 dApps and counting. Names like Curve, Beefy Finance, and Chainlink appear throughout the lengthy roster of projects that have chosen to scale on the network.
Midnight Society isn’t the only game in town looking to build NFTs on the Polygon network. In fact, some people don’t even know that OpenSea integrated Polygon in fall of last year.
The Polygon network has been working hard to establish itself as a solution to Ethereum’s throughput and transaction fee headaches, and the return-on-investment is piling in. Users looking to expand their experience, or identify platforms with potential, would be well suited to give Polyon a peek.
Every investment opportunity and earning strategy carries risk. Speculation on any asset comes with exposure to the possibility of total loss from any number of events, including but not limited to: exploits, rug pulls, complete devaluation, etc. Assess your risk tolerance before responsibly investing.
