Polygon MATIC/USD is a platform for Ethereum scaling and infrastructure development that allows the creation of multiple types of applications through its Polygon SDK.
Furthermore, we also saw tremendous growth in regards to the popularity of non-fungible tokens (NFT) trading cards and memorabilia.
NFT Collectibles as a catalyst for growthPolygon launched Polygon Studios, with their aim to focus on advancing blockchain games and NFTs.
On August 12, Polygon announced that it will integrate Rario, which is an officially licensed cricked NFT platform that allows fans to collect as well as trade some of the most iconic moments throughout the history of cricket.
The platform itself is partnered with a lot of leagues, including the Caribbean Premier League, Lanka Premier League, and cricket stars such as Faf Du Plessis and Zaheer Khan.
Furthermore, PolygonPunks launched and became the world’s first “punks” type NFT on the Polygon network, which was inspired by the Ethereum based NFT collection CryptoPunks, as well as Solpunks and Bunks.
The number of PolygonPunks is capped at 10,000, which gives them scarcity and value.
From all of this, we can see that Polygon (MATIC) is banking on NFTs and collectibles. In other words, it intends to become the go-to platform when it comes to collectibles, and this has the potential of driving its circulating supply as well as blockchain usage high.
The more collectors decide to jump on it, the higher its price will go.
So, the question on everyone’s mind right now is, should you invest in Polygon (MATIC)?
Should you invest in Polygon (MATIC)?On August 13, Polygon (MATIC) was worth $1.42.
To get a perspective of what kind of value this actually is, we need to compare it to a few other points in time of specific value that the token had.
For example, its all-time high was on May 18, where it had a value of $2.62. This means that its value on August 13 can be seen as a 45% decrease from its all-time high.
This gives us a perspective as to how much growth we can expect out of the token in the near future as well.
That being the case, when we analyze its performance in July, we can see that on July 7, it had its highest point in terms of value at $1.16, but on July 20, dropped to as low as $0.64.
This is a drop of 81% throughout the span of the month. That being the case, its value on August 13 is still a 22% increase from the highest point in price that it raised in July.
With all of this in mind, and the recent push in NFTs and digital collectibles, we can expect a lot of collectors to jump in and start using Polygon.
With that in mind, as well as its historical growth, we can expect its price to grow to $1.84 by the end of August.
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