Nike is introducing SWOOSH, their new proprietary platform. Users may gather Nike virtual creations in this exclusive online space. Additionally, they declared that Polygon would be the blockchain on which they would develop their web3 experiences. Will MATIC price increase because of this news? Let’s analyze in this MATIC price prediction article.
What is Polygon (MATIC)?
Polygon is an Ethereum Blockchain scaling solution. It should make transactions faster and more efficient. Polygon utilizes “sidechains” to better distribute the transaction load on Ethereum. This is the intent of a layer 2 solution.
For years, the Ethereum blockchain has struggled with slow transaction speeds and high gas fees. Polygon provides so-called “parachains,” which can take over the transaction load from Ethereum, particularly when smart contracts are executed.
The entire network was previously known as MATIC, and it was solely focused on increasing Ethereum scalability. The network then rebranded to Polygon in 2021, intending to become “Ethereum’s Internet of Blockchains.” Polygon wishes to make Ethereum a multi-chain network.
What is Nike Swoosh?
Nike is introducing SWOOSH, a brand-new platform where users can gather Nike virtual creations online.
Users signed up on the waitlist to be among the first to experience it. Users need an access code to register to create a SWOOSH ID because SWOOSH is currently in beta, and they’ll also need to be a Nike member.
Nike Swoosh uses Polygon
Nike announced that they chose Polygon as the exclusive blockchain to build their web3 experience. In fact, Nike was not the only one to do so, as there have been many big brands on the Polygon bandwagon. From Starbucks to Meta, those big names are definitely seeing the big advantage to build and scale on Polygon.
MATIC Price Prediction: Will MATIC price increase soon?
The problem currently is that the crypto market suffered severe losses in the past week. The FTX bankruptcy sent the entire crypto market crashing. This includes stablecoins which depegged for a brief period of time. However, despite all of this, MATIC prices remained on an uptrend that started back in June 2022. In figure 1 below, we can see how MATIC prices are still on an uptrend, unlike most other cryptocurrencies.
MATIC is expected to reach the price of $1 again soon. When the crypto market goes back bullish, MATIC prices should boom and continue higher to reach $2 somewhere in Q42023.
Offer from CryptoTicker
Are you looking for a chart analysis tool that doesn’t distract you with community messages and other noise? Check out GoCharting! This is an easy-to-use online charting tool that requires no downloads or prior knowledge.
Click here to get a 10% discount on your first payment (monthly or yearly)!
GO TO THIS LINK TO TRADE MATIC ON KRAKEN!
Shiba Inu to Reach 1$ soon? This New Upcoming Development Proves it Right
MATIC Price Prediction – MATIC UP 5% breaking 80 cents, 1 $ Soon?
Nike Virtual creations: How to join Nike Swoosh Web3 Platform?
Big News: Ripple Price is about to TRIPLE? This News Confirms…
MATIC Price Prediction 2030 – Is MATIC a Good Buy Today?
MATIC Price Crash – Why did MATIC prices Collapse?
Can Shiba Inu Price Reach 10 Cents?
Polygon MATIC Price reaches 1 $ – Here’s where it’s going to go next!
Is MATIC the ONLY Crypto with Good Fundamentals and Future?
Polygon Price Prediction: Can MATIC Price Reach $3 in 2023?
The Big Ripple Price Prediction for 2023 – How high can the XRP price go in 2023?
Polygon Price Prediction – MATIC Price to BOOM?
How High will MATIC Price Go? MATIC 3 $ soon enough?
Can Polygon (MATIC) Price hit $5 in 2023?
CryptoTicker announces its first NFT Collection – Here’s how to MINT!
Shiba Inu Price Prediction: How High can SHIB Price reach by 2030?
MATIC Price to reach $1 before 2023 if THIS Happens!
MATIC Price Prediction as US Banks Collapse…Will MATIC reach 2$?
MATIC Price UP 50% in the past week! Can MATIC reach 1 $ soon?
You might also like
More from Altcoin
Litecoin investment opportunities: Should You Invest Now?
Can Litecoin become increasingly important in the future. Let's take a look at the Litecoin investment opportunities.
Ethereum Price Forecast 2023: 5 Reasons ETH Could Hit $3000 in 2023
In this Ethereum Price Forecast 2023 article, we'll explore five potential scenarios for Ethereum's price performance in 2023.
Ethereum Price Down as crypto prices adjust…BUT Here’s what’s coming!
Ethereum prices are exploding! What's next for Ethereum? Should you buy Ethereum or wait? Let's assess in this Ethereum analysis.