Polygon Labs has entered into a strategic partnership with South Korea’s telecommunications giant, SK Telecom (SKT), to foster the growth of the web3 ecosystem and nurture promising web3 startups.
.@SKtelecom and Polygon Labs have inked a strategic collaboration to spearhead the development of SKT’s Web3 ecosystem. ????
The collaboration aims to fuse SKT’s telecom prowess with Polygon’s blockchain scaling infrastructure so SKT users can enjoy experiences unique to web3… pic.twitter.com/klElt8Nnlg
— Polygon (Labs) (@0xPolygonLabs) August 17, 2023
SK Telecom will integrate its newly launched NFT marketplace, TopPort, and its upcoming web3 wallet services with the Polygon blockchain as part of this collaboration.
According to SKT’s press release, this integration would allow TopPort to seamlessly interact with other NFT platforms within the Polygon ecosystem and empower native creators to mint Polygon-based NFTs.
The press release stated:
“By leveraging Polygon, SKT will be able to ensure that its users can enjoy high-speed and cost-efficient transactions backed by Ethereum’s native security and decentralization.”
The partnership also aims to accelerate the expansion of the web3 ecosystem, both in South Korea and on a global scale. Polygon Labs, through its subsidiary Polygon Ventures, plans to invest in web3 startups recommended by SK Telecom.
Oh Se-hyun, SKT’s Vice President and Head of Web3 CO, highlighted the importance of the collaboration, stating:
“By combining our experience in blockchain services and Polygon Lab’s blockchain infrastructure and ecosystem, we will be able to create valuable business opportunities and boost the Web3 ecosystem.”
Polygon Labs, known for developing the Polygon PoS network and other blockchain solutions, plays a vital role in the web3 space. The Polygon PoS network, operating in parallel with Ethereum, is a popular choice for web3 gaming startups and NFT marketplaces, hosting significant crypto applications like Uniswap and Aave. Reddit recently launched its “Retro Reimagined” collectible NFT avatars on the network.
This development is the latest in a series of partnerships with different companies that have sought to integrate Polygon Labs technology into their service. Recently, multichain protocol Clearpool integrated Polygon’s zkEVM protocol so it can offer faster transactions and enhanced liquidity options for its consumers.
According to Marc Boiron, Polygon Labs’ CEO:
“Polygon Labs has been developing optimal blockchain technology for Web3 popularization, and we see this collaboration with SKT as an important step in providing Web3 experiences to more consumers.“
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