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Polygon Labs and South Korean telecom giant SK Telecom have collaborated on Web3. They aim to develop a Web3 ecosystem and identify and support promising ventures worth investing in.
Polygon Labs, the blockchain company behind Polygon (MATIC), one of the leading altcoin projects, and South Korea’s leading telecom operator SK Telecom, have joined forces to develop a Web3 ecosystem and identify and support promising ventures worth investing in.
Marc Boiron, CEO of Polygon Labs, described the collaboration as “a significant step towards providing Web3 experiences to more consumers” in a statement. The agreement for the collaboration was signed at SK Telecom’s headquarters in Seoul.
While Polygon supports SK Telecom’s NFT marketplace, TopPort, the two companies aim to identify and support promising Web3 ventures. The collaboration is seen as a positive step for the Web3 ecosystem as a whole.
Polygon Blockchain
Polygon operates a Proof of Stake (PoS) sidechain network that runs parallel to the Ethereum Blockchain, the largest altcoin and the second-largest cryptocurrency, and hosts important crypto applications such as Uniswap (UNI) and Aave (AAVE). Polygon Blockchain is considered one of the most popular Web3 gaming ventures.
MATIC serves as the utility token of the Polygon Blockchain. MATIC reached its all-time high of $2.92 on December 27, 2021, and is currently trading at $0.6218 with a 1.44% decrease in the last 24 hours. According to CoinMarketCap, the altcoin is priced 78.69% below its record high.
