Although the cryptocurrency market faces difficulties in 2022, it continues on its way. As a result of natural selection, some altcoin projects are eliminated, while others develop themselves and survive by getting stronger. Therefore, this attracts the attention of institutional investors. Bloomberg senior macro strategist Mike McGlone points to Polygon (MATIC) as one of them.
Corporate firms choose Polygon because…
Popular analyst Mike McGlone shared his views on the cryptocurrency market and its latest trends. In the report, McGlone argued that when it comes to Layer 2 solutions for Ethereum, no protocol can compare to the kind of network efficiency Polygon (MATIC) brings to the table. The Economist states that Polygon has become a beacon for Blockchain developers, using the latest zero-knowledge (ZK) technology to ensure the privacy and speed of transaction processing.
Mike McGlone notes that Ethereum’s biggest DeFi platforms like Aave and Uniswap have moved to Polygon. Moreover, the economist underlines that the total number of decentralized applications (dApps) is more than three times that of its nearest L2 competitor and almost half of Ethereum itself. McGlone notes that with its development appeal, Polygon has also managed to become a kind of brand for NFT and Web3. More and more companies from the outside world are eager to dive into the new digital economy. This is where Polygon comes into play. Because if they do, it’s usually Polygon that provides the springboard for them to do so. cryptocoin.comAs you follow, Coca-Cola, Reddit, Starbucks, Meta joined Web3 via Polygon last year among those who took this step.
Altcoin price action
The price action of Polygon’s native token MATIC confirms these arguments to some extent. The altcoin price has increased by more than 50% since the beginning of the year. Also, one-fifth of this (about 12%) occurred in February. Meanwhile, MATIC against Ethereum has grown by almost 15% since the start of 2023.
Doritos in metaverse with Polygon-based NFTs
According to the official statement shared by Doritos representatives, the American chip manufacturer is opening its first metaverse venue, Doritos Triangle Studios. The campaign kicks off on February 8 with brand-themed mini-games, airdrops and sweepstakes.
Next week, the luckiest metaverse enthusiasts will be able to win high-end bespoke gaming PCs, the super rare NFT CloneX #12118 (Takashi Murakami drop) and the Meebits #53 digital collection assembled by legendary studio Larva Labs. Also, some fancy items will be at the door: details of the prize pool will be announced on February 8, 2023. The virtual experience will take place in Decentraland.
By the way, all the NFTs in this campaign were printed in Polygon (MATIC). Therefore, Blockchain is solidifying itself as the technical platform of reference for large-scale metaverse experiences by global brands.
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