Ethereum sidechain scaling solution Polygon (MATIC) is making waves in integrating major brands into the web3.
While everyone is talking about web5 and a potential Bitcoin-based future internet, Polygon is showcasing the potential of web3. Writer for TodayinPolygon, Narbbroke down some of the biggest brands currently working with Polygon.
Most of the projects use the low-power sidechain to create NFTs for their brands. While Polygon offers many benefits to developers beyond NFTs, it seems that right now mainstream brands are more interested in diving into web3 via NFTs rather than more complex web3 implementations. However, several financial companies also use Polygon to facilitate low-cost crypto transactions for their customers.
Draft Kings is a USA-based gambling, casino and fantasy sports company. The Draft Kings NFT marketplace is built on top of Polygon to allow investors to buy and sell sports NFTs through the Draft Kings website. The company also runs its validator for the Polygon chain.
The NFL Polygon also used; as Narb states, “Through a partnership with Ticketmaster, the NFL has launched virtual commemorative tickets that it will distribute free to fans attending select games. NFL NFT created on the Polygon network.
Liverpool Football Club also used Polygon to launch their NFT collection. However, the project was called a disaster. About 94% of NFTs remained unsold. The soccer club raised around $1.4 million from the sale, which fell far short of its $11.2 million goal. In a statement, Liverpool FC chose Polygon because “creating an NFT on Polygon has the same carbon impact as sending just 2.5 emails, meaning LFC NFTs consume 99.95 % less energy than projects on Ethereum”.
Dolce & Gabbana broke the record for the highest value fashion NFT with a sale of $6 million via its partnership with UXND. The release has made its way into traditional fashion news cycles, with institutions such as vogue covering the release by declaring it “A Million Dollar Success Story”.
Macy’s has even joined the NFT revolution by launching an NFT of its infamous Thanksgiving Parade. According to the wall street journalthe retailer was “auctioning off 10 digital images of its Thanksgiving parade balloons, including a 1940s floating firefighter.”
Adidas and Prada joined forces in January to launch an NFT collection on Polygon. The project was designed to reward Adidas “Into the Metaverse” NFT holders with “creator-owned art” by digital artist Zach Lieberman. The final artwork is now complete and can be viewed here. Individual room tiles can be purchased separately on OpenSea. The total volume of the global artwork is currently 471ETH.
Adobe has integrated Polygon into its artist portfolio app, Behance. Artists, creators, and developers use Behance to showcase their talents online to fans and potential collaborators. Behance was launched in 2005 and has over 10 million users who now have access to Web3 through Adobe and Polygon. NFTs created on Polygon can be viewed on Behance with a link to OpenSea to reveal further information.
Meta announced in May that it would launch NFT integration with Instagram. The platform launched to a handful of influencers on Polygon, with Ethereum, Flow, and Solana to follow. Choosing to launch solely on Polygon is a bold move for one of the biggest companies in the world. It further establishes Polygon as the go-to blockchain for traditional integration companies. Ryan Wyatt, CEO of Polygon Studios, announcement that Facebook chose Polygon because of
🌍 Our neutral carbon footprint
⛓️ The scale we can offer
💻 The ecosystem of developers choosing to rely on Polygon.
Stripe announced in April that it would begin testing $USDC payments through Polygon to Twitter creators. Twitter users who earn money from events like Paid Spaces can cash out through USDC instead of traditional banking methods.
More recently, Circle confirmed that it will support USDC payments through Circle accounts and the Circle API without “manual bridging”. The integration into the Circle account allows developers to convert fiat to crypto through a simple API mechanism. Circle said,
“Polygon USDC delivers faster, more efficient transactions while tapping into #Ethereum’s robust developer ecosystem.
With over 19,000 applications and 2.7 million monthly active wallets, Polygon is a leading “layer 2” scaling solution for the Ethereum network.
The company further revealed that users will be able to use the “platform to quickly exchange Polygon USDC for native USDC on any supported chain.”