Polygon Announces To Invest In Leading NFT Marketplace 'Colexion.'

Polygon Announces To Invest In Leading NFT Marketplace 'Colexion.'

2021-10-27 | Selina Mathew

Polygon Announces To Invest In Leading NFT Marketplace 'Colexion.'

In India, the cryptocurrency ecosystem is expanding. Polygon, an Ethereum scaling and digital infrastructure development platform, announced an investment in Colexion, Asia's largest non-fungible token (NFT) marketplace, on Wednesday. The Ethereum blockchain, often known as ETH, is a decentralized, open-source network that claims to be a global decentralized network. Ethereum is a cryptocurrency, like bitcoin and dogecoin, but its blockchain also allows for these NFTs. The NFTs allow artists to sell their work and communities to join together on their platform, which is the fundamental purpose of NFT commerce. The cryptocurrency ecosystem in India is now functioning in a regulatory vacuum. Polygon, which claims to have a large footprint in the cryptographic ecosystem, says it would employ several of its digital tools to encourage NFT acceptance in India, allowing consumers to enjoy a smooth purchase and minting experience. "This is a momentous occasion in Colexion's growth path, and we are thrilled to be the selected partner for investment by Polygon," stated Abhay Aggarwal, Co-founder, and CEO of Colexion. This step would allow our Indian users to take advantage of the NFT ecosystem.” "Polygon's investment in Colexion will revolutionize the NFT market in India by enabling Indian consumers to purchase and sell NFTs faster than ever before, with astonishingly low transaction fees and an over-the-top user experience," said Bibin Babu, Co-founder, and COO of Colexion. Polygon claims that its investment will provide benefits such as a theft-free trading experience, highly advanced dashboards, and tools for NFT exchanges, a trustworthy platform that allows artists and talents to interact with their fans and NFT traders, and, most importantly, a secure infrastructure. It will cater to a wide range of developer demands by offering tools for building scalable decentralized apps, focusing on platform performance and user experience while addressing any security concerns that may emerge. "The primary goal of this investment is to revolutionize the NFT market," said Sandeep Nailwal, Polygon's co-founder and chief operations officer. “Polygon's tremendous appeal in this environment can be attributed only to its quickly rising acceptance. While Polygon maintains the security and ownership transparency of non-fungible digital tokens, Colexion strives to give non-fungible digital tokens the value they deserve, allowing artists and fans to communicate and trade on a secure platform," Nailwal added. Many well-known celebrities and athletes have already joined up for this platform to create their own special NFTs, according to Polygon. Morne Morkel, Brendon McCullum, Dwayne Bravo, Mika Singh, Krissann Barretto, and Salim-Sulaiman are among those who have participated.

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