Why Polygon (MATIC) Is Up 9% Today

Published on July 5, 2022

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KEY POINTS

Polygon collaborates with Coca-Cola and artist Rich Mnisi on a collection of 136 NFTs as part of Coca-Cola's Pride Series.
Facebook begins testing Polygon and Ethereum NFTs as an added feature on users' profiles.
Polygon’s (MATIC) price has reflected positively on the new partnerships.

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Polygon (MATIC) is announcing several new partnerships and collaborations, and the price of the coin is up.

Polygon (MATIC) has announced a collaboration with Coca-Cola for a line of NFTs supporting the LGBTQIA+ community and Coca-Cola's Pride Series. The artist designing the NFTs is Rich Mnisi from South Africa. His work is said to "push boundaries on the concepts of identity and community." The collection will consist of 136 NFTs, which will be minted on the Polygon Network. Rich Mnisi will work with Coca-Cola on the designs. As of writing, there are 132 of the Coca-Cola Pride Collection NFTs available on OpenSea, with a floor price of 0.29 Ethereum.

Polygon NFTs to be features on Facebook profiles

In addition to that, Facebook, or Meta, has begun testing Ethereum and Polygon NFTs on user profiles. They plan to add other networks but the initial run will be with Ethereum and Polygon. The NFT world has been attempting to break into the social media sphere for some time, with NFT exchange platforms looking more and more like social media accounts and incorporating a community aspect.

This development could really launch digital art into a larger sector, as Facebook is a premier social platform. Its user profiles will now feature a "digital collectibles" tab where users can showcase their purchased NFTs. Users will also have the ability to connect their cryptocurrency wallets directly to their Facebook profiles and be able to post their NFT transactions on their pages for followers to engage with.

Facebook founder Mark Zuckerberg has been a vocal supporter and frontrunner of the Web3 movement so it certainly makes sense that he would be embracing NFTs on his platforms. Facebook also owns Instagram, which launched an NFT feature in May of this year.

Polygon (MATIC) price today

In light of these announcements, Polygon has seen an uptrend as of late. The price today according to CoinMarketCap is $0.04884 USD with a 24-hour trading volume of $752,149,392 USD. Polygon now ranks at No. 18 on the list of highest live market caps with $3,911,070,385.

If you are interested in buying Polygon (MATIC), check out our list of top cryptocurrency exchanges and apps.

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Katie Clinebell

Katie Clinebell is a freelance content creator and digital marketing strategist for FinTech, blockchain, and crypto brands. She has created award-winning campaigns for Snapple and Tai Pei Frozen Asian Food and received an Adobe Academic Achievement Award for content about Olympic athletes.

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