Polygon Labs and South Korea’s leading mobile carrier, SK Telecom, have announced a strategic partnership aimed at creating a robust web3 ecosystem and identifying promising startups for incubation.
The collaborative effort, outlined in a joint statement, aims to offer consumers improved web3 experiences while promoting innovation within the blockchain sector.
Polygon Labs is the blockchain company overseeing the Polygon network. Formerly known as the Matic Network, Polygon is a layer 2 scaling solution for Ethereum, designed to tackle scalability and usability challenges faced by the Ethereum blockchain.
Polygon provides a framework for building and connecting multiple blockchains, often referred to as “sidechains,” to the Ethereum mainnet.
These sidechains can handle transactions faster and with reduced fees compared to the main Ethereum network.
SK Telecom is a prominent South Korean telecommunications company that provides a wide range of communication services. It’s one of the largest mobile carriers in the country, offering mobile voice, data, and messaging services to millions of subscribers.
SK Telecom is known for its strong network infrastructure and innovative technologies in the telecommunications industry.
The formal agreement was signed at SK Telecom’s headquarters in Seoul, solidifying the commitment of both companies to this collaborative endeavor. Also, SK Telecom’s NFT marketplace, TopPort, will soon integrate support for the Polygon blockchain.
TopPort was launched as an open beta version of its NFT marketplace in August 2022. The Web3 platform is the first major project initiated by the telecommunication business.
Polygon and Sk Telecom want to enhance the user experience in the marketplace by leveraging Polygon’s blockchain scaling infrastructure, which ensures secure, high-speed, and cost-efficient transactions.
Furthermore, the collaboration between Polygon Labs and SK Telecom aims to discover and nurture promising Web3 startups. By combining SK Telecom’s telecommunications expertise with Polygon’s blockchain technology, the partnership seeks to provide fertile ground for emerging startups to thrive and innovate.
Marc Boiron, CEO of Polygon Labs, emphasized the significance of the partnership between Polygon Labs and SK Telecom. He expressed that the collaboration with SK Telecom is a significant move towards offering Web3 experiences to a larger number of consumers.
