- Polygon is set to welcome the BellyGom NFT Season 2 from the Lotte Group.
- With its gradual ecosystem expansion moves, MATIC is set for a major price bump.
Ethereum-based Layer-2 protocol Polygon has inked a new partnership with South Korea’s fifth-largest conglomerate Lotte Group. According to the announcement from the company’s media partner, Daehong Communications who helped develop the company’s Non-Fungible Token (NFT) project dubbed Belygom NFT, the project will be expanded to the Polygon protocol.
GLOBAL EXPANSION of NFT projects #onPolygon 🤯
We are excited to announce Lotte Group has partnered with Polygon Labs to expand its presence in the rapidly growing NFT industry with their marketing and NFT project hub, Daehong Communications.
More: https://t.co/XCE2woErcq pic.twitter.com/PiagIVUwH9
— Polygon (Labs) (@0xPolygonLabs) February 27, 2023
The expanded project is dubbed Belygom NFT Season 2 and according to the outfit’s spokesperson, work is still being done on the project and the exact launch date has not yet been revealed.
The Polygon protocol is a high-performance Layer-2 network that is built on the Ethereum blockchain. It is notably a major hub for NFT developers owing to its cheaper transaction fees and high speed of transactions. While Polygon leverages the advanced security and legacy of the Ethereum protocol, it has been able to improve on these capabilities in virtually every way.
Based on its current attractiveness, Polygon now ranks as the fourth largest blockchain outfit for total NFT sales in the Web3.0 world. Per data from CryptoSlam.io, Polygon has a total of more than $412,000 NFT sales volume over the past 24 hours ahead of top outfits like BNB Chain and Cardano.
The BellyGom NFT collection was initially launched on the Klaytn Network back in June last year. Being an owner of the NFT gives access to exclusive deals including discounts on hotel bookings and shopping vouchers. This Season 2 debut is likely billed to expand the benefits for holders across the board.
Despite the said partnership, Polygon still has limited involvement in the management of the NFT collection.
“Polygon and Daehong are [now]technical partners and counterparties that provide marketing support as needed,” a Polygon spokesperson told Forkast via direct message, outlining the partnership. “The actual operation of the [BellyGom] NFT project will not be run by the Polygon Foundation, but existing NFTs will be migrated to Polygon.”
Polygon expansion: Implication for price
The deal between the Lotte Group and Polygon is one that is mutually beneficial. While the deal will see Lotte Group expand into the fast-growing Web3.0 through Polygon, it will benefit from the protocol’s energy efficiency to meet its broader sustainability agenda.
For Polygon, however, the deal will account for a major addition to its ecosystem and as such, is billed to drive positive sentiments that can help investors bet on the future price of MATIC, thus driving accumulation.
Polygon has been hitting a series of high-profile ecosystem expansions featuring top-rated Web2 and legacy companies. As reported by the Crypto-News Flash, Polygon recently inked a partnership with Eclipse as it seeks to become completely compatible with Solana (SOL).
These thoughtful partnerships are further compounded by related linkups with Starbucks, Adidas, and Prada, making the protocol the top destination for mainstream firms looking for in-roads in the digital collectibles space.
MATIC is changing hands at $1.22, down by 2.60% over the past 24 hours and by more than 15% in the past week. The growing ecosystem growth can help the token achieve a rejuvenated growth trend and a possible retest of a new ATH at $3 in the mid-to-long term.
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