Polygon Signs Partnership with DIGITALAX Platform to Venture into NFT Industry

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by Steve Muchoki · 3 min read
Polygon Signs Partnership with DIGITALAX Platform to Venture into NFT Industry
Photo: Depositphotos

Through the partnership, physical pieces will be distributed by DIGITALAX while Polygon will mint the corresponding NFTs.

Polygon Network, formerly known as Matic protocol, has announced its collaboration with the DIGITALAX platform to issue a hybrid digital and physical fashion line. According to the dual, the partnership is based on the idea of non-fungible tokens (NFTs) as memes and a gateway that avails the sustainability of the digital markets.

The NFT industry has been one of the leading markets during the past few months both in the crypto market and blockchain technology. Through the partnership, physical pieces will be distributed by DIGITALAX while Polygon mints corresponding NFT. “The collection will be sold as physical pieces, with a corresponding NFT minted on Polygon, with the aim of onboarding fashion consumers to the NFT space,” the company noted in a press release.

DIGITALAX and Polygon Network’s Partnership

As a result of the partnership, the duo will educate the world on the importance of bringing together the fashion industry and digital technology. According to the partnership details, both companies are in a good shape to deliver outstanding results in their specified field to honor the sustainability of the fashion and NFT market.

“Overall, the collaboration is designed to help the world understand the nature of NFTs and the digital metaverse and how they make fashion and commerce more sustainable. DIGITALAX believes that memes, with their simple and shareable nature, are evidence that there’s already a transition to the digital metaverse underway,” Polygon noted in a press release.

Polygon is the former Matic network, however, they have similar goals only that the latter was a simpler version. The team behind the Polygon network intends to help the Ethereum ecosystem scale and catch up with cryptocurrency adoption. Furthermore, the level of competition in the blockchain industry leaves non to offer dissatisfying services including high fees and low throughput.

Notably, the polygon network is the company behind the layer 2 solution dubbed optimism among others. Moreover, blockchain projects launched on Polygon are capable of communicating both with one another.

Through the partnership, digital enthusiasts can purchase and get delivered for the physical collectibles. While the NFT is delivered through blockchain technology and the form of payment entails the use of digital assets. “The project is creating a collection of individual physical garments, each of which will be imprinted with a one-of-a-kind “memetic patch” NFT. Each meme is designed to promote core themes such as sustainability, exploitation in the supply chain, fashion, and gaming, and unrealized creator value. The memetic patches will be minted on Polygon as a unique ERC1155 NFT, using the DIGITALAX open-source digital pattern, material, and texture libraries,” Polygon noted.

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Steve Muchoki

A financial analyst who sees positive income in both directions of the market (bulls & bears). Bitcoin is my crypto safe haven, free from government conspiracies. Mythology is my mystery! "You cannot enslave a mind that knows itself. That values itself. That understands itself."

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