Polygon Labs Partners With Korean Mobile Giant

Polygon Labs has partnered with Korean telecommunications company SK Telecom to develop a complete Web3 ecosystem.

Enhancing Web3 Ecosystem with Polygon Integration

International software development company Polygon Labs has announced a strategic collaboration with Korean mobile giant SK Telecom (SKT) to develop a robust Web3 ecosystem. The agreement signing ceremony took place at SKT’s headquarters in Seoul, with Oh Se-hyun, Vice President and Head of Web3 CO of SKT, and Polygon Labs’ CEO Marc Boiron in attendance.

Under the partnership, SKT will integrate support for the Polygon blockchain into its NFT marketplace TopPort and upcoming Web3 wallet. 

Polygon’s Web3 Advancement

The partnership between Polygon Labs and SKT will enable users to avail of faster and more cost-efficient transactions while leveraging the security and decentralization of Ethereum.

Polygon Labs CEO Marc Boiron emphasized the significance of this collaboration, saying, 

“Polygon Labs has been developing optimal blockchain technology for Web3 popularization, and we see this collaboration with SKT as an important step in providing Web3 experiences to more consumers.”

The Polygon Labs team had previously revealed its plans to establish multiple layer-2 networks on the Polygon blockchain as an integral component of their Polygon 2.0 roadmap. 

TopPort and Web3 Wallet Integration

SKT had launched its NFT marketplace, TopPort, in 2022. The new partnership will also come in handy for the marketplace, as it will expand its capabilities. Creators would be able to mint Polygon-based NFTs on TopPort, making it compatible and scalable with other NFT platforms on the Polygon ecosystem. 

SK Telecom is also scheduled to drop its Web3 wallet in the second half of 2023. The partnership with Polygon Labs will integrate the latter’s excellent network support and NFT trading facilities into the wallet for a seamless adoption of Web3 technologies by SKT users. 

Fostering Web3 Startups and Ecosystem Growth

The collaboration extends beyond technical integration. Both companies will work together to identify promising Web3 startups and provide incubation support. Polygon Labs plans to explore potential investments in Web3 startups recommended by SKT through its subsidiary, Polygon Ventures.

Furthermore, the partnership aims to facilitate the entry of competitive Web3 startups into the global market and introduce leading decentralized apps (dApps) from around the world into the Korean market.

Oh Se-hyun, Vice President and Head of Web3 CO at SKT highlighted the potential of the collaboration, saying, 

“By combining our experience in blockchain services and Polygon Lab’s blockchain infrastructure and ecosystem, we will be able to create valuable business opportunities and boost the Web3 ecosystem.”

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.