News

SKT (NYSE:SKM, “SKT”) and Polygon Labs have signed a strategic collaboration agreement to develop SKT’s Web3 ecosystem. The agreement was formalized at SKT’s headquarters in Seoul, with the presence of Oh Se-hyun, Vice President and Head of Web3 CO at SKT, and Marc Boiron, CEO of Polygon Labs.

Under the agreement, SKT will incorporate support for the Polygon blockchain into its NFT marketplace, TopPort, and Web3 wallet. This collaboration aims to provide consumers with efficient Web3 experiences. Additionally, the companies will work together to identify promising Web3 startups and offer incubation support.

Polygon Labs has been instrumental in developing blockchain technology for Web3 adoption. The partnership with SKT is seen as a crucial step towards offering Web3 experiences to a wider audience.

Available since last year, TopPort enables creators to mint Polygon-based NFTs and will soon be compatible with other NFT platforms in the Polygon ecosystem. SKT’s forthcoming Web3 wallet, slated for release in the second half of 2023, will also integrate support for the Polygon network, facilitating NFT trading.

By leveraging Polygon, SKT aims to provide its users with fast and cost-effective transactions supported by Ethereum’s security and decentralization features. Many global brands are already utilizing Polygon-based solutions for their Web3 initiatives.

In addition to their joint efforts in supporting Web3 startups, Polygon Labs plans to consider investments in promising ventures recommended by SKT through its subsidiary, Polygon Ventures. Furthermore, the partnership intends to facilitate the entry of competitive Web3 startups from around the world into the Korean market, as well as introduce leading decentralized apps (dApps) to the domestic market.

The collaboration between SKT and Polygon Labs seeks to create valuable business opportunities and foster the growth of the Web3 ecosystem, combining SKT’s expertise in blockchain services with Polygon Labs’ infrastructure and ecosystem.

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