Polygon News Round-up – DraftKings BecomeS Polygon Validator, Polygon Studios Partners with Zipmex

Here are the most exciting recent events around the Polygon ecosystem:

DraftKings gains validator status on the Polygon network

Sports betting firm DraftKings has become the newest validator of the Polygon blockchain in a bid to enhance its future-proof aspects. Via this collaboration, DraftKings aims to achieve sustainable and reliable decentralized infrastructure that people can trust, according to the firm’s president of global product and technology, Paul Liberman.

Polygon validators are required to stake MATIC – the native token on the network – to help secure and decentralize the network. In return, they gain rewards. The digital sports entertainment company has established an agreement that would see B2B embedded infrastructure platform Zero Hash stake tokens on its behalf.

Becoming a validator isn’t the first crypto-related action from DraftKings on the Polygon network. The Nasdaq-listed fantasy sports firm has in the past conducted a number of initiatives, most notably, the collaboration with Tom Brady’s Autograph. Through the joint effort, Autograph’s sports-based NFTs, including digital sports cards, dropped on DraftKings’ NFT marketplace last year.

Since going live in August, DraftKings Marketplace has sold out 116 NFT series and logged $44 million in sales, as per a representative. The premier sale was a Tiger Woods NFT, collected for $70k.

Zipmex crypto exchange partners with Polygon to enhance efforts in the Zixel metaverse

Polygon Studios -the NFT, gaming and metaverse-focussed arm of the Polygon network – over the weekend announced it had partnered with Singapore-based crypto exchange Zipmex to help further the exchange’s undertakings in the metaverse. As part of the initiative, Polygon also intends to invest in Zipmex’s native ZMT token.

Specifically, Polygon Studios will bring “new virtual experiences” on Zixel, the exchange’s native metaverse, which launched last month. Zixel will ‘exploit’ Polygon’s energy efficiency and scaling for products built in the metaverse.

The metaverse efforts will target the Asia Pacific market.

Kelvin Lam, the Managing Director of Zipmex Group, said that eventually, Zipmex aims to become a leading mover in “the digital culture” of Southeast Asia. The region has seen massive traction in the crypto space over the last few years.

Zipmex’s announcement came as Zixel hosts its first-ever physical metaverse exhibition. Metaworld by Zixel, which runs until March 20, allows users to engage in metaverse experiences linked to the ‘Zixel Launch Party’ event that happened last month on Decentraland.

The physical exhibition includes, among other features, a Crypto Arcade X Polygon Studios zone, where visitors can play-to-earn tokens and other prizes.

Polygon among the winners as Lugano brings El Salvador-like pro-crypto exploits

The city of Lugano, which forms part of the Italian-speaking southern part of Switzerland, is redefining what it means to accept crypto. The city last Thursday announced that it is making Polygon its official blockchain platform in an effort to embrace the broader cryptocurrency space.

According to city officials, the ultimate goal is to enable the 62,000 population of the city to pay for goods and services using cryptocurrencies. Lugano citizens, unlike El Salvadorans, will onwards enjoy more than Bitcoin payments as Lugano is also employing Tether (USDT) and the city’s native LVGA Points stablecoin as “de facto” legally accepted currencies.

Polygon will help Lugano build out the necessary infrastructure on which the Tether and LVGA stablecoins would run. As Lugano has an already built-out blockchain, 3Achain, the city continues to be one of the most crypto-optimistic places in the world today.

Further, Polygon is increasingly becoming a reliable infrastructure partner for several entities. Earlier this month, Spain-based cybersecurity and telecommunication mammoth Telefónica Tech announced it was collaborating with Polygon to leverage its tools and network to enable businesses to integrate blockchain tech easily. The effort, which launched during the  Mobile World Congress in Barcelona, aims to onboard more and more people onto the Web 3 space.

To learn more about Polygon visit our Investing in Polygon guide.