Polygon expands into billion-$-market with customized Web3 domains – Report

  • Polygon has landed a new partnership with Unstoppable Domains to create .polygon domains.
  • This alliance is helping to push forth the leadership role of Polygon among L2 protocols.

Ethereum-based Layer-2 blockchain protocol Polygon (MATIC) has tapped a new partnership with Unstoppable Domains to advance its foothold into the internet domain ecosystem, an industry valued at billions of dollars. As announced by the protocol, the partnership will see the creation of .polygon domain names that its users can tap into just as we have for Ethereum (ETH) and Solana (SOL).

Having a customized domain name makes a lot of crypto-focused transactions easier. These transactions include those featuring funds transfers and Non-Fungible Tokens (NFT) respectively. Specifically, the partnership will make it easier for Polygon users to gain easy accessibility to websites, and also aid the easy creation of decentralized applications.

Web3 domains will give our community a digital identity that they fully own, so they can log into dApps without giving away their personal information and transact crypto without lengthy wallet addresses.

Said Sanket Shah, Vice President and Head of Growth Business Development at Polygon Labs.

We’re thrilled to make user-owned digital identity a core part of the Polygon ecosystem.

Considering the broad exposure of Unstoppable Domains and its partnership with numerous Web3.0 platforms, users with .polygon domain names can gain easy access to more than 750 DApps, games, and metaverses. 

Through the technology that Unstoppable Domains is introducing, users will be able to create profiles and connect them with their social channels, showcase on-chain tokens like tickets and awards, display badges, and more.

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We’re excited to deepen our partnership with Polygon Labs with .polygon Web3 domains and bring our communities even closer together.

Said Sandy Carter, Chief Operating Officer and Head of Business Development at Unstoppable Domains.

User-owned digital identity is the future of the Internet, and with the Polygon ecosystem, we’re putting the power of user-owned digital identities into more people’s hands.

Polygon is Leading the L2 Race With Unstoppable Domains

While Polygon is arguably the first Layer-2 protocol on the Ethereum blockchain, it is by far the biggest in terms of adoption and the market capitalization of its native token, MATIC. Thanks to the new partnership with Unstoppable Domains, the protocol has further extended its charge as the leading L2 protocol head of its top competitors including Optimism (OP), Arbitrum (ARB), and the recently launched Base, the offshoot of Coinbase exchange.

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Polygon has always been known to set the pace for its rivals to follow and it has inked a number of strategic partnerships over the past few months. One such partnership was with the American mega coffeehouse, Starbucks Corporation. Polygon helped the company build its Odyssey program as it seeks to use digital collectibles to strengthen its ecosystem and reward loyal customers.

Polygon’s native token MATIC is currently riding the bullish wave in the market and is changing hands at $1.17, up 1.3% in the past 24 hours.

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About Author

Godfrey Benjamin is an experienced crypto journalist whose main goal is to educate everyone around him about the prospects of Web 3.0. His love for crypto was birthed when as a former banker, he discovered the obvious advantages of decentralized money over traditional payments.

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