Blockchain startup Polygon invests in NFT marketplace Colexion
As part of the investment, Polygon will deploy its digital tools to boost NFT adoption in India. The investment is also expected to offer users a theft and forge free trade experience for NFTs.
Wednesday October 27, 2021,
2 min Read
Blockchain startup Polygon has made an undisclosed investment into Colexion, a non-fungible token (NFT) marketplace.
As part of the investment, Polygon will deploy its digital tools to boost NFT adoption in India. The investment will offer benefits such as theft and forge free trade 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 secured infrastructure.
It will also cater to the diverse needs of developers by providing tools to create scalable decentralised applications, focus on the performance of the platform and user experience while solving any security concerns that may arise.
Polygon co-founder and COO Sandeep Nailwal said,
“The main purpose of this investment is to bring transformation in the NFT marketplace. While Polygon ensures the security and ownership transparency of non-fungible digital tokens, Colexion aims to give NFTs the value that it deserves.”
Colexion has already launched a premium NFT marketplace in the sports, entertainment, art, and lifestyle category. The platform has onboarded international celebrities from the entertainment and sports industries, where each one of them will be launching their NFTs exclusively.
“Polygon’s investment in Colexion is all set to revolutionise the NFT space in India by enabling Indian users to now buy/sell NFTs faster than ever, with surprisingly lower transaction fees, and with an over-the-top user experience,” said Bibin Babu, Co-founder & COO, Colexion.
Polygon is one of the leading platforms for Ethereum scaling and digital infrastructure development. Its infrastructure solutions include sidechains, hybrid solutions, stand-alone, enterprise chains, data availability solutions, security assets, and many more. Polygon primarily aims to solve pain points associated with blockchain technology.
Colexion is a marketplace for digital collectibles, which aims to bring NFTs into mainstream trading options. It focusses on building a relationship between artists and fans by creating a value-added platform and digital infrastructure for digital token’s trade.
Edited by Megha Reddy