Jan 13, 2023

January 13, 2023 News › Polygon › Adoption Looking back on the year with Polygon: Transaction growth, new collaborations, and more While most blockchain networks lacked traction in 2022, Polygon attracted major companies in both the Web2 and Web3 spaces. Soumen Dutta read 3 minutes Cover art/illustration via Cryptooshala Despite the troubles that 2022 brought with it for the crypto space, several sectors saw steady growth, with a record number of transactions and new collaborations. Year of… As reported, Polygon has facilitated over 960 million transactions and deployed 778,000 smart contracts with 234,000 contract makers. By December 26, are over 202 million unique addresses on the blockchain. Polygon also claims to have eliminated approximately 600,000 tonnes of carbon. In addition to these achievements, several transformative innovations have been launched on the blockchain as adoption continues to increase. Below is a highlight of notable developments for the Polygon ecosystem in 2022. Disney Accelerator Program 2022 In July, Polygon was Few As one of six firms participating in the Disney Accelerator Program 2022 and the only blockchain-oriented firm selected for the program. The Disney Accelerator Program is a business and growth-oriented initiative established to accelerate the development of innovative businesses globally with technologies within augmented reality (AR), non-fungible tokens (NFTs), and artificial intelligence (AI). Reddit grows with NFTs Polygon Despite some Reddit users be anti-crypto , Reddit NFT was one of the major announcements of this year. In October, Reddit released “Collective Avatars” based on Snoo the mascot , Above 3 million According to a Reddit executive, wallets were created on Polygon to receive NFTs in a few months. In addition, over 5 million colorful avatars have been created with over 4.3 million unique wallets. polygon and meta In November, Meta launched A toolkit for Instagram users to create and sell NFTs based on the Polygon blockchain. Worth noting is that Polygon emerged as Meta’s first partner for the new feature. As revealed, content creators on Instagram will be able to design and sell their own digital collectibles on and off Instagram. Dive into the blockchain game with Magic Eden Another dive into the NFT space, Polygon emerged as the third supported series on popular NFT marketplace Magic Eden. Through the integration, Magic Eden will also support game developers and content creators in the ecosystem. association with phantom Non-custodial wallet Phantom added browser, Android, and iOS support for Polygon last November. The Phantom joins the league of several projects in the industry that are pushing towards a multi-series future. The integration provided users with a simple, secure and seamless way to access NFTs and decentralized applications. Nike’s Journey into the Virtual Asset Sector with Polygon Nike launched Digital asset platform Swoosh in association with Polygon to further establish its presence in the Web3 space on 14 November. In the announcement, Nike established that the Swoosh’s virtual apparel is usable for RTFKT avatars. RTFKT is another well known developer team in the Web3 space Nike acquired In 2021. starbucks loyalty program In another development, popular coffee outlet Starbucks via Polygon launched Its loyalty rewards platform in December. Specifically, the coffee chain giant provided ways for customers to earn loyalty rewards as they participated in an interactive engagement known as a “journey.” Journey, as an interactive session, aims to project the firm’s brand and educate customers about the history of Starbucks and coffee. The rewards are digital collectible stamps in the form of non-fungible tokens (NFTs). collaboration with flipkart In December, it expanded its reach into the e-commerce space in India through Flipkart. two firms partnership To build a blockchain e-commerce center of excellence. Polygon reports that the center will focus on e-commerce research and development in the Web 3 and Metaverse, exploring the future of shopping and online shopping. Other Milestone Developments Lastly, projects such as Robinhood, Wild Card, Midnight Society, and One Planet Lending Solutions have all enjoyed Polygon’s contributions to their respective projects. In addition, it is also developing its three zero-knowledge proofs (zk) scaling programs to support its growing mainstream adoption ambitions. Using such solutions, transactions are rolled up into a separate chain and then committed to Ethereum, making transaction speeds much higher. The Polygon zkEVM was revealed last July, and its testnet was launched in October, with the team claiming it was the first zkEVM with a public testnet that generated ZK proofs. Soumen Dutta Journalist at Cryptooshala Sauman is a dedicated researcher and writer in the fields of cryptocurrencies, DeFi, NFTs and GamFi projects. Read our latest market report How GBTC premium trading ruined Barry Silbert, his DCG empire, and took the crypto lending platform with it DCG struggles as Grayscale Trusts face steep discounts and increased competition from ETFs. James Van Straten4 days ago Credit : cryptoslate.com