Polymarket Inks Biggest Partnership Deal With X, Here’s Upside For Polygon

Polymarket, the popular crypto-based prediction platform, has partnered with social media giant X.

The collaboration officially recognizes Polymarket as the social media platform’s official prediction market partner.

Polymarket to Meet 600M Users via Polygon Crypto

A notable part of the partnership between Polymarket and X is that it will operate on the Polygon blockchain.

In an update shared with the broader crypto community, Polygon highlighted the deal’s significance.

Polymarket, a decentralized crypto application, is getting mainstream visibility and legitimacy through X.

Polymarket’s predictions and polling might become embedded or directly promoted on X.

Shayne Coplan founded the Polymarket outfit in 2020, and it has evolved into the world’s largest prediction market.

Leveraging Polygon’s infrastructure, the platform processed over $3.2 billion in bets during the 2024 U.S. presidential election.

Users could bet seamlessly using stablecoin between Former Vice President Kamala Harris and President Donald Trump.

The new deal further exposes Polymarket to a wider audience who might not have known about the prediction platform.

The partnership is strategic for Polymarket as it would leverage the approximately 600 million active monthly users globally on X.

If a fraction of X users worldwide begin using Polymarket via X, it signals a major step forward in Web3 adoption.

X’s Growing Affinity With Crypto

The inking of the Polymarket and X partnership strongly indicates that crypto and social media platforms are converging.

It is likely that more native tokens will integrate with social media platforms for different utility.

Interestingly, X, under the leadership of Elon Musk has leaned towards crypto assets and remains friendly with the sector.

Notably, Musk has a good history with Dogecoin (DOGE), and Tesla once accepted Bitcoin payments.

The partnership with Polymarket and Polygon crypto in the mix suggests that X could position itself as a major hub for Web3 innovation.

X might launch its native token or adopt a cryptocurrency to facilitate payment processes on the platform.

There are reports that X has secured U.S. licenses for its payment platform,X money which is currently undergoing beta testing.

Other social media platforms, like Read. Cash, have integrated crypto into their platforms to offer users an incentive.

Read.cash provides incentives for content creation by giving users BCH-enabled wallets when they sign up.

Although X’s current partnership with Polymarket does not involve a native token for X itself, the platform could explore that in the future.

In the past, there were speculations of currency integration, with support for either Bitcoin or Dogecoin. This is hinged on Elon Musk’s fondness for these crypto assets.

However, Musk did not give life to the speculations, and no new announcements have been made.

Huge Upside for Polygon Crypto Ecosystem

The partnership between Polymarket and X has huge benefits for Polygon crypto. Notably, it validates Ethereum Layer-2 scaling solution as the “go to network” for crypto applications.

The network may attract developers and traditional platforms seeking to pivot to blockchain technology in delivering their services.

Furthermore, the development could drive massive new user activity on Polygon and boost the ecosystem.

Polygon, renowned for its low-cost transactions, could appeal to users and drive adoption.

The bottom line is increased adoption for POL with price valuation set to soar soon.

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