The crypto industry has been going through a rough patch since the start of 2022. However, things have not been that bad everywhere, especially in the case of Polygon. The network has had many wins lately, but the recent win is something entirely different and much welcomed by everyone.
It is no secret that Polygon has been one of those few networks leveraging the potential of the metaverse. But this Polygon has upped the ante by becoming the first blockchain network to host an airport metaverse. This is a significant development in this sphere that would not have been possible at BLR Airport.
But before diving into more details, let’s first understand what Polygon is all about.
Polygon (MATIC): Development Over The Years!
Polygon MATIC was founded in 2017 and is a layer 2 or sidechain scaling solution designed to run alongside the Ethereum blockchain. It does so by paving a path allowing people to carry out transactions with low fees and far better efficiency.
Powered by the ERC-20 network, the Polygon platform makes it easier for developers to create on a grander scale without worrying about high gas fees. On the other hand, the network makes it easier for people to facilitate smaller transactions that would be impractical for the Ethereum blockchain.
This means using Polygon can help you benefit from better scalability and flexibility of a blockchain project. Even better, you need not worry about interoperability, security, and other structural perks with the ERC-20 blockchain.
But the advantages of using Polygon do not just end here. The network leverages the Proof-of-Stake (PoS) mechanism for verifying transactions. Users must stake their MATIC holdings to participate in the consensus process. As a result, the entire process of verification becomes more sustainable and eco-friendly without having to burn a lot of power needed to operate high-end computing systems.
Polygon’s Significance In The Metaverse Airport?
Polygon has returned to the crypto world with an announcement about its new metaverse airport or meta port. This new metaverse version of the BLR Airport is the first of its kind and is available only on Polygon. However, this endeavor has a lot of potential use cases, even more so for people looking to use it for commercial purposes.
One of such excellent use cases of this entire thing is airports using this metaverse option to showcase the unique offerings of their airport to customers. Besides that, the right application of this entire thing can make it easier for passengers to familiarize themselves with the airport virtually. As a result, this meta port becomes an excellent marketing tool that airports from everywhere can use to generate more customer engagement and drive better results.
Is Polygon Lifting Off?
Well, it probably is all set to lift off. One cannot underestimate the fact that this virtual airport is the very first of its kind. It is not just Polygon that will benefit from this endeavor; even other blockchain networks dabbling with the metaverse idea can benefit from it.
There can be many more innovations on this front that might revolutionize marketing for all we know. But more importantly, this is an excellent addition to Polygon’s metaverse endeavors as this will help further accelerate development on this front.
Speaking of growth and development, what surprised many is that Polygon has easily managed a seamless adoption of the entire thing. There has been no massive disruption that would hinder the overall growth potential of the network. The total address of the meta port has been growing considerably without hindering consistency over the past four weeks. Polygon is making all of this possible despite the disruptive condition of the market.
However, a couple of new addresses slowed down in the first week of this month. But the network managed to regain its stride for good, giving the world a much-needed assurance to the market and stakeholders. Moreover, the Polygon network has been attracting many new users regardless of the bearish sentiment in the market.
Will The Market Experience A Decreasing Demand For MATIC Tokens?
Polygon has been receiving addresses like anything in the past couple of days. If anything, the numbers are increasing daily, indicating the healthy demand for MATIC coins despite the recent crash.
Technically, MATIC has seen more receiving addresses than sending addresses, indicating a bullish sentiment, further confirming this positive momentum. However, that was different here. Like almost every other cryptocurrency in the market, even MATIC struggled to regain momentum following the crash. But given enough time, chances are high; things will get much better for MATIC.
MATIC: What To Expect In The Short Term?
Of course, there is no way one can determine the future of a cryptocurrency, especially in this volatile crypto environment. That said, MATIC did attempt an excellent recovery in the second half of the last week. Unfortunately, numbers suggest its valuation spiked by a staggering 37% on the 10th of November.
However, this momentum lasted only a short time, with MATIC again tanking more this weekend. As a result, the coin now has a press time price of about $0.90, much better than its earlier performance, with the bearish sentiment taking precedence in the market.
Yet, this bearish sentiment might only last for a while in the case of MATIC. After that, the coin is headed for a retest of the 50-day average press time so that more patience could do great justice to the crypto.
Additionally, MATIC managed to cross below the 50% level mark in the Relative Strength Index, commonly known as RSI. Given these indications, it is safe to say that things are looking much better for MATIC than other cryptos in the industry.
Should You Invest In Polygon MATIC?
Investing in any crypto is a personal decision with many personal implications. In this case, the best you can do is conduct your research and due diligence to pick the right crypto.
Polygon MATIC has been performing relatively well in this bearish market. So make sure you evaluate these factors and make an educated and informed decision for good.