Polygon Weekly Recap (1/30 - 2/3)
You can keep up with the Polygon Network changes by reading my Polygon Weekly summary.
Key Takeaways
Polygon (MATIC) Was One of the Top Performers in January
The Polygon Network Will Be the Home of a Hamilton Lane $2.1B Fund
Polygon Launches a dApp Store Developer Toolkit in Partnership with Meroku
Polygon Exceeds Ethereum in Terms of OpenSea NFT Sales for 2 Straight Months
Ecosystem Updates
During this last week, the Polygon ecosystem has achieved a new milestone, many new integrations, and more. Let's take a closer look at all of it!
1. Market Data
Polygon (MATIC) Was One of the Top Performers in January
Despite the positive performance of numerous coins this month, the Polygon (MATIC) coin stands out as a top performer. During the last month, Polygon (MATIC) displayed a 50% value increase, achieving a $1.25 peak. At this moment, Polygon (MATIC) could be losing some steam with a price of $1.18, a decrease of 3.49% in the last 24 hours, according to CoinMarketCap.
Polygon (MATIC) is at a turning point and might see a significant increase in price if it can regain momentum. However, Polygon (MATIC) is still in the top 10 market capitalization rankings with a $10.2B valuation. It surpassed Solana last week, and it appears that it won't be losing its spot any time soon.
2. Polygon Network
The Polygon Network Will Be the Home of a Hamilton Lane $2.1B Fund
An investment company listed on the NASDAQ has unveiled its ground-breaking offering for individual investors. The first of three tokenized funds has now launched as per Polygon which will be leveraging the Securitize platform.
With this partnership, the entry hurdle for investors will be reduced from $5 million to only $20,000 as Hamilton Lane will make a portion of its Equity Opportunities Fund V available to numerous individuals through the Securitize feeder fund. Hamilton Lane will also release two more tokenized funds; as I said, you can expect those in the coming months.
In my opinion, tokenization is a huge step forward for everyday investors as a larger pool of them can enter an industry they may not have been able to before!
3. Polygon DeFi
Polygon Launches a dApp Store Developer Toolkit in Partnership with Meroku
The world's first decentralized app store protocol Meroku has collaborated with Polygon to release a software development toolkit called dApp Store Kit that allows everyone to create a dApp store that is EVM-compatible. They may publish and distribute projects across many shops concurrently and can make their guidelines for redistribution, moderation, control, labeling, and price.
The technology will launch in two stages. Meroku and Polygon Labs worked together to create the MVP, which went online on January 31st. The second phase will be devoted to expanding the item's functionality, which additional partners like XMTP.org, Etherscan, and others will support. The future of the dApp Store Kit will be handed over to the community to further expand on it as it achieves maximum decentralization.
4. NFT
Polygon Exceeds Ethereum in Terms of OpenSea NFT Sales for 2 Straight Months
According to Dune, Polygon Network has outperformed Ethereum in NFT sales for two months. When we look at the Dune charts, we see that Polygon NFT sales were 1.3 million in December and 1.5 million in January, compared to Ethereum sales of 995,000 and 1.1 million during that same period.
This could be for various reasons, but many believe that the Donald Trump NFT launch may have been the main one as it coincides with the volume spike. Launched in December, Trump's NFT initiative was a hit; it soon sold out and topped the Polygon sale leaderboard. We must also remember that Nike and Starbucks have partnered with Polygon for their respective NFT launches, which have also propelled Polygon NFT sales. All in all, Polygon is making the correct moves, gaining mass adoption, and further developing its NFT sector!
Additional Notable Events
Polygon DeFi
Polygon NFT
great summary as always jrdn