Can Polygon’s series of updates help MATIC get out of year-end woes?


  • Saying partnership with Polygon Warner Music Group and the yet-to-launch music NFT platform LGND Music.
  • The community has confirmed that it has launched its first batch of one-third vestings and distributions for a February fundraising.

Blockchain initiatives seem like eyeing a year-end win following a string of points which have plagued the ecosystem since early 2022.

of Ethereum [ETH] sidechain community polygon [MATIC] Getting into one other partnership with media big Warner Music Group was no exception.

learn Polygon’s [MATIC] worth prediction 2023-2024

Based on the sequence Tweet Polygon, which went public on November 6, confirmed that it’s affiliated with Warner Music Group. It additionally partnered with the soon-to-launch Polygon-based market LGND Music to supply entry to a number of artists signed to Warner Music Group to “launch their digital collections and supply followers with unique content material and experiences. to ”.

and press launchPolygon Studios CEO Ryan Wyatt stated:

“Web3 has the ability to rework the music trade for artists and followers alike. This unique partnership between , LGND and WMG marks an thrilling milestone for the music trade.Polygon is happy to announce this groundbreaking initiative to extend music possession and produce extra music lovers and artists to Web3. I’m proud to have the ability to transfer ahead.”

The previous years have been marked by a sequence of partnerships between Polygon and main firms in varied sectors. It has introduced partnerships with Behance, Disney, Coca-Cola, Nike, and even tech big Meta.

Along with partnerships with Warner Music Group and LGND, Polygon has confirmed one other replace to its ecosystem.of $450 million funding spherical Two weeks in the past, introduced in February, the primary batch of grants and distributions of one-third of MATIC tokens started over a three-year unlock interval.

In February, Polygon raised roughly $450 million by a non-public sale of native MATIC tokens in a funding spherical led by Sequoia Capital India. This included his $50 million funding from troubled Alameda Analysis.

Know this and shield your possessions

Based on knowledge from, MATIC is buying and selling at $0.9054 on the time of writing. coin market capitalizationThis represents a 58% drop from its 30-day excessive of $1.20.

Information of a current partnership with media big Warner Music Group has didn’t have an effect on MATIC’s worth, as adverse investor sentiment in direction of crypto belongings has continued for the reason that FTX implosion. Moreover, the affirmation that they’ve began granting and distributing MATIC tokens didn’t shock MATIC both.

Over the previous 24 hours, MATIC’s worth has fallen by 0.51% and buying and selling quantity has additionally fallen by 29%, in keeping with knowledge from CoinMarketCap.

Supply: Santimento

On November fifth, simply earlier than the FTX debacle started, an on-chain evaluation revealed that MATIC’s Community Revenue/Loss Index (NPL) hit a excessive of 283.61 million. This means that traders have, on common, offered at a sizeable revenue. MATIC was offered at a excessive worth of $1.12 throughout the identical interval.

Nevertheless, following the implosion of FTX and the drop within the normal market, MATIC’s worth plummeted and so did NPL. This represents his MATIC fall from the native high he recorded earlier than FTX’s collapse.

Supply: Santimento

A sequence of ecosystem updates inside Polygon ought to hopefully restore investor confidence by the tip of This autumn 2022 because the market seeks to rebalance after a major bearish interval in November. improve.

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