Polygon's NFT Trade Metrics Plummet, but Positive Signs Emerge with Polygon 2.0 and zkEVM Gaining Traction
The NFT trade count and volume on Polygon's MATIC ecosystem experienced a significant decline in the past month, indicating reduced usage. However, the recent popularity of Polygon 2.0, zkEVM, and NFTs could change the scenario. Despite the decline, there is still potential for the blockchain's NFT ecosystem to flourish, especially with the upcoming launch of One Planet NFT marketplace on Polygon 2.0. While MATIC's price has been under pressure, some metrics suggest a trend reversal, such as the declining exchange reserve and oversold stochastic.
Polygon and Suku Partner to Launch Open Edition NFT Collection Minted on Twitter
Polygon and Suku partnered to launch an open edition NFT collection that was entirely minted on Twitter, with over 50,000 NFTs minted by users within 48 hours. Suku utilized Twitter's user-centric approach to onboard newcomers into crypto and offered NFT holders its web3 wallet for managing the NFTs minted on Twitter. The free NFT collection from Suku led to over 48,000 wallet downloads and over 88,000 social mentions for Suku and Polygon. Suku plans to expand to other social media platforms, including Facebook, Reddit, Instagram, and LinkedIn, and is pioneering a user-centric approach to blockchain technology.
Suku Launches Digital Wallet Solution Using Twitter Handles for Crypto Transactions
Suku, a web3 firm, has launched a digital wallet solution that allows users to create a wallet and send digital crypto using their Twitter handles. The wallet has already been downloaded by over 48,000 people. Suku aims to simplify the adoption of web3 among everyday internet users by creating intuitive products that don't require prior knowledge of the crypto space.
Polygon (MATIC) Price Drops 18% Amid Concerns Over Token Migration Plans
The price of Polygon (MATIC) has fallen by 18% since the announcement of plans to migrate to a new native token called "POL" on July 13. This has caused uncertainty among investors, as evidenced by a decrease in the number of new MATIC wallet addresses being opened on the Polygon network.
Bruce Lee's Metaverse Tribute: Celebrating the Martial Arts Icon in a Unique Digital Experience
Next-gen social entertainment platform, BYTE CITY, has partnered with the Bruce Lee Foundation to create a digital tribute to the legendary martial artist and actor in the form of a mobile metaverse experience. The immersive platform will allow fans to engage with Bruce Lee's avatar in a party gaming environment and celebrate his life and philosophy.
Palm Network to Transition to Polygon ZK Supernet for More Accessible NFT Trading
Blockchain platform Palm Network is set to become more accessible to users by transitioning to a customized Polygon blockchain. The move will enable easier minting, trading, and collecting of non-fungible tokens (NFTs) for Palm Network users, as well as interoperability with Ethereum and the rest of the Polygon 2.0 ecosystem. Palm Network will become a Polygon ZK Supernet, which uses zero-knowledge proofs to process deposits and withdrawals from Ethereum. The transition will take place in two stages, with the platform becoming a proof-of-stake consensus mechanism network on August 23 and transitioning to a ZK-based layer-2 in 2024.
Lens Protocol V2 Released to Support New Use Cases and Shared Monetization for Web3 Users
Aave Companies has announced the release of Lens Protocol V2, which offers improved functionality to support new use cases and shared monetization for its growing Web3 user base. The protocol is a decentralized protocol built on Polygon that allows developers to build and deploy Web3 social apps and integrate Web3 social features with existing Web2 and mobile experiences.
Myanmar’s Shadow Government Backs Launch of Crypto-Based Bank
According to Cointelegraph, Myanmar’s first entirely crypto-based banking institution has announced a soft launch for July 22 — a move that could see the country’s shadow government given greater access to financial services and funding.
An interactive Dashboard for dApps on Polygon zkEVM is live on the BOS
According to Near, Polygon now accessible on NEAR’s Blockchain Operating System. An interactive dashboard for dApps on Polygon’s zkEVM is live on the BOS.
Polygon, PlayWay, and GameSwift Collaborate to Launch OuterLife
According to GameSwift, that game developer PlayWay has collaborated with Polygon and GameSwift, an ecosystem for one-stop Web3 game stores, to launch a game accelerator called OuterLife.
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