Nexity and Polygon DAO Join Forces. Here’s What Investors Need to Know

A person sitting at an office desk and looking at a cell phone with a contemplative expression.

Image source: Getty Images

Many or all of the products here are from our partners that compensate us. It’s how we make money. But our editorial integrity ensures our experts’ opinions aren’t influenced by compensation. Terms may apply to offers listed on this page.

Nexity partners with Polygon. What does it mean for you?

Key points

  • Nexity’s efforts with Polygon could revolutionize the way business is done on the blockchain; socially, economically, and environmentally.
  • MATIC could be greatly affected by the success of Polygon’s partnerships.

Blockchain technology is incredibly robust, but it is not without its issues. Nexity, the blockchain business network, has received a grant which will fund its projects within the Polygon blockchain. This partnership with Polygon will allow Nexity to create circular business applications to solve many of today’s largest blockchain problems. The collaboration between Nexity and Polygon DAO could have wide-reaching effects on the world of blockchain technology as a whole.

Smart-er Contracts

Nexity seeks to optimize smart contracts, doing away with waste and making smart contracts more efficient. Nexity provides smart contracts on a distributed ledger and a public chain, which it claims will boost the legality, stability, and efficiency of operations involving these contracts. Nexity also seeks to reduce transaction fees by using cryptocurrencies for smart contracts in place of government-issued currency. Another problem facing the blockchain is the counterfeiting of certain blockchain-based products like non-fungible tokens. In order to combat counterfeiting, Nexity has a solution involving a one-of-one hash that can connect people to digital assets reliably through QR codes, RFID tags, and more. With the power of Polygon, Nexity is attempting to build a better blockchain. If Nexity’s solutions pan out, the value of both Nexity and its partners could soar.

Don’t Miss: Best Cryptocurrency Exchanges and Apps

MATIC could see more demand

With the success of Nexity, comes greater opportunities for Polygon as well. If Nexity’s operations find a great boon in the services of Polygon, more companies could be incentivized to build their projects on Polygon. The more companies that find uses for the Polygon blockchain, the higher the demand will be for MATIC, the native token of the Polygon blockchain. This digital currency can be used to drive development on Polygon, and pay for transaction fees on the network. If other companies follow Nexity’s lead, the price of Polygon could become so high that only large enterprises would be willing to pay.

The bottom line

The collaboration of Nexity and Polygon has the potential to change the way business is done on the blockchain. If Nexity is able to improve blockchain technology through Polygon’s partnership, these two companies could find themselves at the top of the heap in the brave new world of blockchain. Success for Polygon would mean a surge for MATIC as well, making this a token to watch in the near future. As Nexity and Polygon continue to collaborate, any companies that participate in Nexity’s efforts should be kept in consideration. Many companies could be affected by a breakthrough for Nexity.

Interested in diversifying your portfolio with crypto, but don’t know where to begin? Check out our guide to investing in cryptocurrency.

Our top crypto play isn't a token - Here’s why

We’ve found one company that’s positioned itself perfectly as a long-term picks-and-shovels solution for the broader crypto market — Bitcoin, Dogecoin, and all the others. In fact, you've probably used this company's technology in the past few days, even if you've never had an account or even heard of the company before. That's how prevalent it's become.

Sign up today for Stock Advisor and get access to our exclusive report where you can get the full scoop on this company and its upside as a long-term investment. Learn more and get started today with a special new member discount.

Get started

Our Research Expert