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SK Telecom Joins Forces with Polygon Labs to Expand Web3 Ecosystem
South Korea’s SK Telecom Co. has partnered with Polygon Labs, a New York-based global blockchain company, to expand its Web3 ecosystem. Both companies signed a memorandum of understanding to form a strategic partnership at SK Telecom headquarters in Seoul.
Web3 refers to an internet environment that utilizes decentralized technologies like blockchain. In this environment, users have ownership and control over their personal information and data, which can be stored in individual online data storage sites instead of centralized servers.
Polygon Labs is considered a leader in the field of Web3, known for its network’s excellent performance and Ethereum compatibility—often referred to as the “internet of the blockchain sector.”
As part of the partnership, SK Telecom will support Polygon’s blockchain network on the non-fungible token (NFT) marketplace TopPort and a Web3 wallet that is scheduled to be released in the second half of this year. This collaboration will enable NFT creators using TopPort to trade on Polygon’s network. Additionally, SK Telecom will promote the use of Polygon’s virtual coin, Matic, on TopPort for NFT transactions.
Through its subsidiary Polygon Ventures, Polygon Labs will consider investing in promising Web3 companies recommended by its South Korean partner.
SK Telecom’s Vice President Oh Se-Hyun, who heads the company’s Web3 CO unit, expressed the significance of combining their blockchain service technology and experience with Polygon Labs’ infrastructure to lay the foundation for popularizing Web3.
During a webinar hosted by the National Academy of Engineering of Korea, Oh Se-Hyun discussed the potential synergy between Web3 and generative AI, highlighting the importance of improving user experience and service convenience in Web3.
The partnership between SK Telecom and Polygon Labs aims to accelerate the development of the Web3 ecosystem and contribute to the advancement of blockchain technology.
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