Polygon Labs teams up with SK Telecom for a Significant Web3 Collaboration

Polygon Labs and SK Telecom Collaborate for Web3 Development

Polygon Labs, in partnership with South Korean telecom giant SK Telecom, is embarking on a Web3 collaboration with the aim of creating a robust Web3 ecosystem and providing support to promising ventures that hold investment potential.

The collaboration brings together Polygon Labs, the blockchain company behind Polygon (MATIC), a leading altcoin project, and SK Telecom, the foremost telecommunications operator in South Korea. Together, they are focused on fostering the growth of the Web3 ecosystem and identifying opportunities for strategic investments.

Marc Boiron, CEO of Polygon Labs, commented on the partnership, stating, “This collaboration marks a significant stride in making Web3 experiences more accessible to a broader audience.” The official agreement for this collaboration was formally signed at SK Telecom’s headquarters in Seoul.

Focusing on Web3 Ventures and NFT Marketplace

While Polygon Labs has been actively involved in supporting SK Telecom’s NFT marketplace, known as TopPort, the collaborative efforts of the two companies are not confined to this project alone. They share a broader vision of identifying and nurturing promising Web3 ventures, signifying a positive step forward for the entire Web3 ecosystem.

About Polygon Blockchain

Polygon operates a Proof of Stake (PoS) sidechain network that operates in parallel with the Ethereum Blockchain – the largest altcoin and the second-largest cryptocurrency. This network plays host to essential cryptocurrency applications, including Uniswap (UNI) and Aave (AAVE). The Polygon Blockchain is notably recognized as one of the premier Web3 gaming platforms.

The utility token of the Polygon Blockchain is known as MATIC. MATIC reached its all-time high of $2.92 on December 27, 2021, and currently holds a trading value of $0.6218 with a 1.44% decrease in the last 24 hours. According to CoinMarketCap, the current price of this altcoin reflects a 78.69% decrease from its peak value.