Key partnerships with Polygon

Sandeep Nailwal, co-founder of the Polygon (MATIC) network, announced two significant partnerships on X (formerly Twitter), expressing his excitement about the blockchain’s increasing adoption.

Nailwal highlighted that the Ronin Network, the blockchain behind the popular game Axie Infinity, will utilize the Polygon Chain Development Kit (CDK) to create its own zero-knowledge Ethereum Virtual Machine (zkEVM) layer-2 chains on Ronin.

Ronin Network, on its part, elaborated how this move aims to enable the permissionless deployment of games on the blockchain, marking a major step towards infinite scalability and faster onboarding of new games.

Additionally, Nailwal revealed that Fox News, a leading media network, will launch a layer-2 blockchain using the Polygon CDK. According to a blog post, Fox confirmed that Verify, an open-source protocol for proving the origin of registered media, will transition to a dedicated ZK blockchain using the CDK.

Polygon stated that Gelato, a Web3 cloud platform, will serve as the implementation provider, with TIME being the first external partner to leverage Verify and register content on the newly deployed chain.

As per the data from CoinMarketCap, MATIC, the native token of the Polygon blockchain, surged 4.2% in the past 24 hours, reaching $0.5739, despite a 16.47% decrease in trading volume to $363 million. MATIC remains among the top 20 largest cryptocurrencies by market capitalization, valued at $5.68 billion.

In the past 24 hours, the token fluctuated between a low of $0.5148 and a high of $0.5753. MATIC is 80.44% lower than its all-time high of $2.92, seen two years ago.