Polygon Partners with South Korea’s Telecom Giant SKT

Credit: SKT

SK Telecom, South Korea’s largest mobile carrier, just announced a partnership with Polygon Labs to further develop its Web3 ecosystem and promote funding and guidance for promising Web3 startups.

According to the press release, the signing of the agreement took place in Seoul at SK Telecom’s headquarters. It was attended by the VP and Head of Web3 CO of SKT, Oh Se-hyun, and the CEO of Polygon Labs, Marc Boiron.

The long-term strategic collaboration has several objectives, including connecting SKT’s NFT marketplace TopPort to Polygon’s blockchain. This will enable users to mint Polygon-based NFTs on the marketplace, which will be compatible and scalable with all NFT platforms on Polygon.

The Polygon network will also be available on SKT’s Web3 wallet, which is scheduled for release during the second half of 2023. Furthermore, Polygon Labs will invest in promising South Korean Web3 startups recommended by SKT, with the investments being made by its subsidiary Polygon Ventures. Both companies will also work together to bring leading dApps into Korea’s domestic market.

Polygon is a layer 2 blockchain built on Ethereum that offers fast and cheap transactions, as well as security and decentralization. It is also one of the only carbon-neutral blockchain, which has helped attract partnerships from some of the world’s leading brands. It was created by Polygon Labs, an international software development company focused on scaling infrastructure.

This is certainly not SKT’s first foray in Web3. Last year, it launched its NFT marketplace TopPort. Around the same time, the company hosted a series of free virtual concerts on its ifland metaverse platform. Like many companies in South Korea, SKT is bullish on Web3. This latest partnership is further evidence of that fact.

Polygon Continues Its Dominance in Web3

The partnership between the largest mobile carrier in South Korea and Polygon Labs is big news for the popular layer 2 blockchain. But it certainly doesn’t come as a surprise. Polygon has been forming major partnerships all year, and its latest with SKT is just more icing on the cake.

Here’s a review of some of the most recent headlines from Polygon this year.

Besides the latest headlines, Polygon also has partnerships with some of the world’s biggest companies, including Starbucks, Coca-Cola, McDonald’s, the NFL, adidas, Prada, DraftKings, and several more.

It will take time before we begin seeing the fruits of Polygon’s and SKT’s partnership, but we’re sure there will be more news to come. At Rarity Sniper, we’ll be on the lookout for any updates to the story.