2022 has been a crazy year for Polygon.
The biggest news flash:
But the pace has intensified in the last 30 days. Here are the top 4 announcements and what do they mean for Polygon:
#1: [SPORTS] DraftKings joins Polygon as a network validator: This was huge. For folks, outside the US and Canada, here is how big DraftKings is by stats:
DraftKings is listed and hence this is not a VC pumped-up valuation. But that is not the end of this. The bigger thing to remember is that DraftKings is a rocketship. It was founded in 2011 and just in 2013, its revenue was just $3 million. Here is a reference to its revenue growth trajectory. It is the place to be for sports betting in the Americas and we all know how quickly is that business scaling.
If you really want to see the power of DraftKings, check out its partnerships. In the last blog, we discussed how blockchain gaming is bigger than sports, movies and home entertainment combined. Polygon Studios is focused on winning the blockchain gaming space and Polygon is focused on winning these traditional entertainment-linked spaces (example, fantasy sports)
.
Dream11, are you listening? Time for Girnaar Nodes and you to build something together on Polygon.
#2: [GOVERNANCE] Lugano makes BTC and USDT legal tender, to run the infrastructure on Polygon: The small picturesque town of Lugano in Switzerland is the first city in the developed world to start accepting crypto as payment. So, for the naysayers, who claimed that El Salvador’s brave moves counted for nothing, because of the country’s economic status, any words now?
From taxes to fines to even tuition fees, can now be paid in crypto in Lugano, run on Polygon.
The fact that Lugano has started accepting is big but what is bigger for Polygon is that the entire infrastructure will run on Polygon. So Polygon (MATIC) token might still not be accepted, but is it that far?
#3: [PAYMENTS] Wirex adds Polygon to save fees: With just 4.5 million customers, Wirex may seem small in the payment space. But it is huge when it comes to its reach (130 countries) and payments in the blockchain space.
Wirex is the leading fintech to adopt and promote crypto. It says so in its mission statement. Wirex has done a bunch of innovations when it comes to payments in crypto, such as introducing Cryptoback®, a rewards program for payment in crypto, DeFi returns, launching their own token, investing in DeFi and metaverse, and much more.
But what is most important to remember is Wirex is Visa and Mastercard network’s principal member. It is like the Slice card or One Card in India. Though the payment network at back might be Visa or Mastercard, customers recall the brand Wirex. The deeper it penetrates, the more people start using crypto for payments in the US, Europe, and more.
Wherever it succeeds, Visa and Mastercard will follow.
And Wirex is now on Polygon. Their success in part will be Polygon’s success.
#4: [TRAVEL] MakeMyTrip launches travel NFT collection on Polygon: This might not be big news to people outside India but let me give you perspective on how big MakeMyTrip is in India. MakeMyTrip Group operates 3 key brands: MakeMyTrip (MMT), GoIbibo (GI) and Redbus. MMT and GI put together hold a ~60% market share in India’s online travel market. Just online flight bookings are a US$7 billion market. This does not count the bigger markets of hotels, buses, cabs, and trains, Redbus of MMT group dominates the bus market. It is NASDAQ listed and continues to hold its leadership position.
Now, MMT is a household brand in a country of 1.4 billion people which is known for its tourist destinations. It has 30 million visits to its website every month, books more than 3 million trips in a month, and reaches pretty much each traveler in India.
The NFT sale of MakeMyTrip on Polygon may not generate much revenue but is a massive and heavily under-rated PR exercise.
Watch out this space for more updates on Polygon and analysis of its impact.
Girnaar Nodes:
Are all the crazy updates on Polygon exciting you? Are you investing in Polygon tokens to be a part of this future?
If yes, then why simply buy and hold. Stake your tokens and see your bag of Polygon (MATIC) tokens grow. Staking Polygon token on the blockchain gives you an extra return in MATIC terms, and you can withdraw anytime. All on blockchain and 100% secure.
Girnaar Nodes is an Indian-origin validator on Polygon with top performance and 0% commission. Stake your MATIC tokens with us directly on the Polygon blockchain. See your Polygon (MATIC) bags grow while we work on the tech under the hood.
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