MATIC price soars 13% amid Meta news on Polygon-powered NFTs

Polygon (MATIC/USD) soared after Meta (NASDAQ: META) announced an expansion of its support for Polygon-powered NFTs. The latest piece of cryptocurrency news from Meta is that Instagram users can now create and sell their own non-fungible tokens (NFTs) on Polygon via a new integration of an end-to-end toolkit.

Timeline of Polygon

Meta (formerly Facebook) is expanding within the crypto ecosystem, where they recently announced that Instagram would host a marketplace for non-fungible tokens (NFTs) that will have support for Polygon (MATIC/USD). Polygon is essentially an Ethereum (ETH/USD) scaling platform and infrastructure for development.

Meta has announced an end-to-end toolkit allowing Instagram users to mint NFTs on the Polygon (MATIC) blockchain and sell them on social media. The post Polygon surges 10% following Instagram integration announcement appeared first on CryptoSlate.

Meta is pulling in all the stops to expand into the crypto ecosystem. The social media platform announced that it would soon have NFT creation and trading tools built-in, allowing creators to seamlessly mint and sell Polygon-based NFTs.

Meta has set in an early Christmas mode for digital asset creators. For the first time ever, Meta is empowering creators to mint & sell Polygon-powered digital collectibles on & off the Instagram platform.

Meta Platforms Inc (NASDAQ: META)-owned Instagram will soon allow users to create, sell and showcase Polygon (CRYPTO: MATIC) based nonfungible tokens (NFTs), giving them new ways to monetize their communities using digital collectibles. What Happened: Instagram on Wednesday announced plans to integrate a full end-to-end toolkit that can be used for the whole process — from the creation of NFTs to showcasing and selling NFTs, starting on the Polygon blockchain.

MATIC's price slowed down after showing so much strength as it rallied to a high of $0.97 but got rejected as the price rallied downward.   MATIC could suffer retracement as the price site on a crucial support area, holding the price off from sellers with hopes of a rebound.

Instagram creators will soon be able to mint and sell NFTs in a marketplace on the platform that will support the Polygon blockchain. The post Instagram to support Polygon-powered NFT marketplace appeared first on The Block.

 The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice MATIC was bullish until recently when the mid-range value was flipped to resistance Will the price fall to the range lows, or would this dip turn out to be a deviation? Polygon had a bullish

Recent record sales of the Reddit NFT, which ran on Polygon's platform, have brought attention to this Layer 2 that coexists with the Ethereum network. Millions of NFT transactions and sales took place on the platform due to the hype, yet its TVL remained unchanged.

JPMorgan has executed the first live trade on public blockchain as part of the Monetary Authority of Singapore (MAS) Project Guardian. The post JPMorgan executes first DeFi transaction on Polygon appeared first on CryptoSlate.