Polygon: The Swiss Army Knife of Ethereum Scaling

Martin Leinweber

December 07, 2022

Polygon is a set of decentralized scaling solutions for Ethereum that aim to give developers the tools they need to build scalable, user-friendly dApps with low transaction fees and high guarantees of security.

Its business development efforts have proven to be one of the company's strengths, as evidenced by the various relationships the company has established with prominent web2 companies.

Despite the overall NFT market downtrend, Polygon has seen a massive 191% increase in NFT sales since the end of September. In the past few months, there have been strong moves from major Web2 companies trying to fully integrate NFTs into their platforms:

Starbucks is revamping their rewards program by incorporating Polygon based NFTs.
Reddit launched a collectible avatar program on Polygon, which has recently onboarded 3 million unique users.
Meta is creating an NFT marketplace on Polygon to be integrated into their Facebook and Instagram platforms.

The platform is presently dominating the industry in big brand deployments, which could explain the recent increase in NFT revenues.

The MVIS^® CryptoCompare Polygon VWAP Close Index (ticker: MVMATICV) measures the performance of a digital assets portfolio which invests in Polygon, with a closing value based on a 1h VWAP price.