Collaboration between SK Telecom and Polygon Labs to Advance Web3 Ecosystem

Polygon Labs and its Contribution

Polygon Labs is the operator of the Polygon blockchain network, which is critically acclaimed for its superior blockchain performance, scalability, Ethereum compatibility, and more. The firm is also well-known for its engagement with various global enterprises and Web3 projects.

“Polygon Labs has developed optimal blockchain technology for the popularization of Web3, and we expect our collaboration with SKT to serve as a key opportunity to offer Web3 experiences and services to a wider audience,” said Polygon CEO Boiron.

Empowering NFT Trade and Connectivity

According to the agreement, SKT’s NFT marketplace “TopPort” and the company’s upcoming Web3 wallet will operate on Polygon’s blockchain network. On the other hand, Polygon Labs will aid in integrating SKT’s Web3 services into its global ecosystem.

• This will enable NFT creators who use TopPort to trade their NFTs on the Polygon network.
• NFTs issued on TopPort will now be tradable on other NFT marketplaces within the Polygon network, enhancing global compatibility and scalability.

SKT and Polygon also plan to allow SKT’s Web3 wallet to be used across various decentralized applications (dApps) within the Polygon ecosystem. Furthermore, they are exploring the possibility of facilitating NFT trading on TopPort using Polygon’s native token, MATIC.

Promoting the Advancement of Web3

This partnership aims to drive sustained growth within the Web3 ecosystem, particularly by finding and incubating promising Web3 enterprises. To do so, Polygon Labs is considering investments in Web3 startups endorsed by SKT through its investment arm Polygon Ventures.

SKT’s Web3 Chief Officer Oh expressed high hopes for the synergy between SKT’s blockchain service technology and expertise and Polygon Labs’ infrastructure technology and ecosystem, saying, “This collaboration could become a cornerstone for the future popularization of Web3.”

All of these efforts are geared towards paving the way for Web3’s mainstream adoption, as these two industry giants combine their strengths to spearhead the evolution of the Web3 ecosystem.