TL;DR Breakdown
- Polygon and Filecoin have partnered to accelerate the growth of the Metaverse and NFT space.
- This partnership will create new opportunities in the Metaverse
Polygon and Filecoin made a major announcement of their collaboration to support the Metaverse and NFT space. The collaboration between both entities aims to aid the integration of networks into the Metaverse and NFTs. Chinese blogger, Colin Wu, shared the announcement from Filecoin in a tweet on Wednesday.
Polygon’s relationship with Filecoin
Filecoin and Polygon are working together to offer dev teams and NFT projects a way to use the Polygon blockchain with Filecoin and InterPlanetary File System (IPFS). Both platforms have started offering grants and hackathons to help dev teams integrate their projects with the Polygon blockchain as part of the deal.
Filecoin has also announced the collaboration on its blog. It mentioned that it is looking forward to supporting NFTs using IPFS protocol designed for decentralized storage of digital assets. Both networks have expressed their excitement to offer a blockchain-powered ecosystem that will benefit all.
Polygon will enable developers to use Polygon to create NFTs, which they may then store on IPFS and Filecoin. They also prepared a developer-specific tutorial to help them understand the process. Up to $5,000 in funding was announced for Polygon native protocols integrating with the IPFS network.
Driving growth to NFTs and Metaverse
Recently these companies have worked together to create a blockchain-powered NFT space. The deal between the two companies includes the creation of a $25,000 reward to be given to dev teams that can integrate their projects with the Polygon blockchain and Filecoin. There have been many rumors that Polygon and Cere Network have been working together on a DaVinci NFT content monetization and fan experience platform. However, the platform is already available, as per the news earlier reported.
This year, Polygon has made landmark moves, partnering with other companies to develop NFTs. This highlights NFTs’ claim as one of the best uses of blockchain technology to create valuable digital assets.
