Polygon(Matic): Three Ways to improve NFT user experience and developer experience
Guest: Arun Philips—Head of Marketing, Polygon (previously Matic)
Guest: Xin—Huobi Strategic Investment
Host: Flying Jack—Huobi Community Manager
Huobi Global Telegram group: https://t.me/huobiglobalofficial
Flying Jack: Hello everyone! Welcome to the Huobi Global Telegram AMA. We will be discussing about NFTs. I am sure everyone would be eager to learn more about How can Polygon (Matic) excel in NFT field.
It’s a great honour and privilege to welcome Xin from Huobi Strategic Investment and Arun Philips, Head of Marketing, Polygon (previously Matic).
Xin: Hi everyone.
Arun Philips:It's a pleasure to be here! Thanks for having us over
Flying Jack: Before beginning the session, Xin and Arun could you please introduce yourself to our community?
Xin: I am Xin from Huobi Strategic Investment, focusing on infrastructure projects in the multichain ethereum ecosystem, including privacy, scaling, cross-chain etc.
Arun Philips: Definitely. My name is Arun Philips, and I lead many of the Marketing and Community initiatives at Polygon. I bought my first Bitcoin in 2016 and have been actively involved in building Blockchain and Startup communities in India and globally.
Polygon is the first well-structured, easy-to-use platform for Ethereum scaling and infrastructure development. Its core component is Polygon SDK, a modular, flexible framework that supports building and connecting Secured Chains like Plasma, Optimistic Rollups, zkRollups, Validium etc and Standalone Chains like Matic POS, designed for flexibility and independence. Polygon’s Layer 2 Chains have seen widespread adoption with 100+ Dapps, ~10M txns and ~230K unique users.
Flying Jack: Thank you for the introduction Xin and Arun. Can you tell us in brief about NFTs?
Xin: Non-fungible tokens or NFTs are also cryptographic assets on blockchain with unique identification codes and metadata that distinguish them from each other.
NFTs can be used to represent real-world items like artwork and real-estate.
the most famous NFT related project are most crypto-art projects
NFTs can also be used to represent peoples identities, property rights, and more
i think there will be more adoption for NFT
more use cases
Arun Philips: I think Xin has given a great context about what NFTs are and has covered many possible use cases.
One additional exciting use-case is the combination of NFT and DeFi, if NFTs can represent billions of $ of liqudity that would be awesome for businesses and enterprises.
Flying Jack: Arun, let’s start with a simple question, Why Matic Network changed its name to Polygon?
Arun Philips:That's a brilliant Q on the minds of so many people
Polygon effectively transforms Ethereum into a full-fledged multi-chain system (aka Internet of Blockchains). This multi-chain system is akin to other ones such as Polkadot, Cosmos, Avalanche etc, but with at least three major upsides:
1. It is able to fully benefit from Ethereum’s network effects.
2. It is inherently more secure.
3. It is more open and powerful.
These are the 3 reasons for the rebranding to Polygon to match our new vision and focus.
Polygon will support other major Layer 2 solutions such as Optimistic Rollups, zkRollups, Validium etc, thus basically becoming a one-of-a-kind “Layer 2 aggregator”.
Flying Jack: Can you share information about Polygon's eco-system, we noticed that there are a particularly large number of NFT projects on Polygon, can you tell us more about Polygon ecosystem?
Arun Philips: Polygon’s Layer 2 Chains have seen widespread adoption with 100+ Dapps, ~10M txns and ~230K unique users.
The growing NFT ecosystem on Polygon with Dapps like Aavegotchi, Neon District, Megacryptopolis, ZedRun, Chain Guardians, Decentral Games, Battle Racers, Doki Doki, MyCryptoHeroes and so many more resulted in the need for a robust NFT infrastructure that can support high growth games and projects that we are building.
There are also incredible projects in NFT Farming and Fractionalized NFTs like Unifty and NIFTEX building on Polygon.
Bonus: This just happened today.
The legendary "Technoking of Tesla Elon Musk is using Polygon for NFTs! You can check out Elon Musk's profile and place a bid on his tweet using the Polygon-powered platform Cent.
It is a little expensive though, the current bid for ownership of this NFT is at 1.12M$.
Other big names to use Polygon include Jack Dorsey, Mark Cuban and now we can't wait to see who is next.
Flying Jack: Xin, What are the key projects to watch out in the NFT field？
Xin: Undoubtedly, B20 and Whale currently attract the most attention.
These two projects are supported by many quality art pieces and generated many discussions from people outside of the crypto community.
Besides artists and art works, IP is another perspective that is worth noting, such as NBA Topshot, brings so much traffic on FLOW.
Additionally, we are also paying attention to Opensea, Rarible and other trading markets as infrastructure, as well as other combination applications between NFT and DeFi
Flying Jack: What other issues in the NFT field deserve to be addressed？
Xin: I think that the NFT may have storage issues!
Many NFT platforms merely store pictures and other related files on local IPFS nodes or other centralized servers, which are not often very stable.
In the worse case scenario, pictures may be lost and what’s left for buyers is simply a letter string there are arweave, filecoin and sia can serve very well as storage solutions
Flying Jack: Arun, What more will Polygon do in the future to improve Polygon's user experience and developer experience？
Arun Philips: Users and developers is at the centre of everything we do at Polygon. We've noticed few major problems that we are actively solving:
1. High cost of minting NFTs: Polygon solves this by allowing for affordable NFT of all major standards. Neon District recently minted 1000s of NFTs for <1$
2. High cost of buying and selling NFTs: Big NFT Marketplaces launching on Polygon including Arkane and some of the biggest marketplaces on Ethereum
3. Lack of Strong NFT Infrastructure: We're solving this by preparing solid inrastructure including NFT Lending, Fractionalized NFTs, NFT Farming and Multiple NFT Marketplaces, NFT Minters and BulkSenders
Flying Jack:Thank you for answering my questions for taking part in this very engaging AMA. Due to time constraints, many questions couldn't be answered. If anyone has more questions or feel that their previously asked questions need to be answered, please tag Xin or Arun they would definitely be more than willing to answer all the questions.
Executive editor： 郝月