How can Polygon (Matic) excels in NFT field?

This is a transcript of an AMA about how Polygon (Matic) can excel in NFT field.

Guest: Arun Philips,Head of Marketing, Polygon (previously Matic)

Guest: Xin, Huobi Investment

Host: Flying Jack, Huobi Community Manager

Topic

How can Polygon(Matic) excels in NFT field?

 Questions

1、First, let our guests to introduce themselves.

Arun Philips:

My name is Arun Philips, and I lead many of the Marketing and Community initiatives at Polygon.

I bought my first Bitcoin in 2016 and have been actively involved in building Blockchain and Startup communities in India and globally.

Polygon is the first well-structured, easy-to-use platform for Ethereum scaling and infrastructure development. Its core component is Polygon SDK, a modular, flexible framework that supports building and connecting Secured Chains like Plasma, Optimistic Rollups, zkRollups, Validium etc and Standalone Chains like Matic POS, designed for flexibility and independence. Polygon’s Layer 2 Chains have seen widespread adoption with 100+ Dapps, ~10M txns and ~230K unique users.

Xin:

I am Xin from Huobi Strategic Investment, focusing on infrastructure projects in ethereum and polkadot ecosystem, including privacy, scaling, cross-chain etc.

2、To Arun: Why Matic Network changed its name to Polygon

Polygon effectively transforms Ethereum into a full-fledged multi-chain system (aka Internet of Blockchains). This multi-chain system is akin to other ones such as Polkadot, Cosmos, Avalanche etc, but with at least three major upsides:

It is able to fully benefit from Ethereum’s network effects.

It is inherently more secure.

It is more open and powerful.

Polygon will support other major Layer 2 solutions such as Optimistic Rollups, zkRollups, Validium etc, thus basically becoming a one-of-a-kind “Layer 2 aggregator”.

3、To Arun: Can you share information about Polygon’s eco-system, we noticed that there are a particularly large number of NFT projects on Polygon, can you tell us more about Polygon ecosystem?

Polygon’s NFT Ecosystem

Polygon’s Layer 2 Chains have seen widespread adoption with 100+ Dapps, ~10M txns and ~230K unique users.

The growing NFT ecosystem on Polygon with Dapps like Aavegotchi, Neon District, Megacryptopolis, ZedRun, Chain Guardians, Decentral Games, Battle Racers, Doki Doki, MyCryptoHeroes and so many more resulted in the need for a robust NFT infrastructure that can support high growth games and projects. There are also incredible projects in NFT Farming and Fractionalized NFTs like Unifty and NIFTEX building on Polygon.

NFT News x Polygon

Bonus: This just happened today

The legendary “Technoking of Tesla Elon Musk using Polygon! You can own this Elon Musk autographed tweet on the Polygon-powered platform Cent. The current bid for ownership of this NFT is at 1.12M$

1. Jack Dorsey, CEO of Twitter puts up his first ever tweet on auction as an NFT on Cent, top bid for the tweet is currently 2.5M$

Cent is built and runs on Polygon.

2. Mark Cuban uses Tokenized Tweets, an NFT Tweet minter built on Polygon

3. Aavegotchi sells out 10,000 portals for their DeFI + NFT game, raises more than 5.5M$+

4. NFTs launched by Logan Paul, ~5M followers on Twitter. Being sold on the Arkane Marketplace, which is live on Polygon. Only 477 pieces issued in total, each one going for ~10,000 USD

4、To Xin: What are the key projects to watch in the NFT field?

Undoubtedly, B20 and Whale currently attract the most attention. These two projects are supported by many quality art pieces and generated many discussions from people outside of the crypto community.

Besides artists and art works, IP is another perspective that is worth noting, such as NBA Topshot, which brings so much traffic on FLOW.

Additionally, we are also paying attention to Opensea, Ratible and other trading markets as infrastructure, as well as other combination applications between NFT and DeFi.

5、To Xin: What other issues in the NFT field deserve to be addressed?

I think that the NFT may have storage issues. Many NFT launching platforms merely store pictures and other related documents on IPFS or other centralized servers, which are not often very stable. In the worse case scenario, pictures may be lost and what’s left for buyers is simply a letter string.

6To Arun: What more will Polygon do in the future to improve Polygon’s user experience and developer experience

High cost of minting NFTs: Polygon solves this by allowing for affordable NFT of all major standards.

High cost of buying and selling NFTs: Big NFT Marketplaces launched on Polygon including Arkane and Opensea.Strong NFT Infrastructure: NFT Lending, Fractionalized NFTs, NFT Farming, Multiple NFT Marketplaces, NFT Minters and BulkSenders.