Polygon works with Starbucks, Reddit, Meta – New updates that can drive MATIC price to $5

  • Polygon has confirmed updates for blockchain gaming, road safety, and DeFi lending risk assessment.
  • The Graph has announced support for Polygon, a partnership that will see Polygon users granted full access to APIs used to power DApps.

The Polygon Network has announced collaborations with multiple partners as it continues improving its ecosystem and pushing towards Web3. In a recent Weekly Briefing video posted on Twitter, Polygon announced updates for blockchain gaming, road safety, and DeFi lending risk assessment.

Speaking in the video post, Polygon’s Senior Manager of Social Media, Nikki, began with Magic Eden, a leading cross-chain NFT marketplace integrating with Polygon to support the move into metaverse gaming. The partnership between Polygon and Magic Eden will initially focus on game developers using launchpads and marketplaces that already support MATIC. Magic Eden will provide market and distribution expertise in planning, concept, and project positioning, as well as foster strong connections to the Web3 communities. Polygon is already working with big gaming names like Atari, Animoca Brands, Ubisoft, Sandbox, and Decentraland.

Polygon is also helping to improve road safety in India via blockchain technology. The International Road Federation, in partnership with Indian blockchain platform SettleMint, is launching a blockchain road safety platform on Polygon. Designed for road users and commuters, the platform allows the Indian public to easily connect with emergency services and law enforcement agencies. The platform will also provide access to emergency care insurance, audits, and safe driving scores to promote safety on Indian roads.

Furthermore, Polygon’s Weekly Briefing introduced a dedicated lending risk assessment team. To effectively do this, the team designed an “agent-based simulator” that stress tests the lending ecosystem. The testing protocol also works in real-time to “monitor the health of every lending protocol 24/7.” According to Polygon, the stress test revealed that:

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…even if all the assets like ETH, BTC, and MATIC increase their hourly volatility by more than ten times, the protocol carries less than 0.1% default risk.

Polygon says it has bigger plans for safety in DeFi and hopes it can rival centralized options. According to the briefing:

We believe that with the proper tools and framework DeFi has the opportunity to become more robust than centralized finance in terms of financial stability and resilience.

The briefing ends with updates on Artfi, Polygon’s blockchain-based Web3 platform for art and NFT investments. Artfi has partnered with British visual artist Sacha Jafri, one of the top five best-selling artists ever. The partnership allows lovers of art from all over the world to own a piece of Jafri’s art through fractionalization and earn royalties for participating.

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Polygon and The Graph

Decentralized Web3 data indexing platform The Graph has announced support for Polygon. The partnership will see Polygon users granted full access to APIs used to power DApps. The Graph already has open APIs (subgraphs) built and published by developers, and used for applications such as Decentraland, Synthetic, and Uniswap. Now, developers on the Polygon network can find data necessary for DApp efficiency, while node operators can become Indexers for Polygon.

New Updates add to Starbucks, Meta, and Reddit

Polygon’s new updates join a list of partnerships that already includes names like Meta and Starbucks. Last month, Meta announced that it would let users mint NFTs using the Polygon blockchain. In September, coffee chain Starbucks revealed a loyalty program that will reward customers with NFTs via Polygon. Back in July, Reddit announced a Collectibles Avatar marketplace that uses NFTs hosted on the Polygon blockchain.

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