{"id":535357,"date":"2023-05-28T11:00:58","date_gmt":"2023-05-28T11:00:58","guid":{"rendered":"https:\/\/wncen.com\/?p=535357"},"modified":"2023-05-28T10:35:53","modified_gmt":"2023-05-28T10:35:53","slug":"monaco-nfts-and-formula-1-reasons-polygon-is-bullish","status":"publish","type":"post","link":"https:\/\/wncen.com\/nft\/monaco-nfts-and-formula-1-reasons-polygon-is-bullish\/","title":{"rendered":"Monaco, NFTs, And Formula 1: Reasons Polygon Is Bullish"},"content":{"rendered":"

Platinium Group, the premier ticket provider for Grand Prix events, has joined forces with an NFT marketplace, Elemint; and a web3 company, Bary, to release a new NFT ticketing system on Polygon that debuted this weekend at the Formula 1 event in Monaco.<\/p>\n

Tickets for the Monaco Grand Prix, which is ongoing and started on Friday, May 26, are being minted on Polygon, the Ethereum sidechain that enables fast processing speeds and high throughput.<\/p>\n

Polygon Labs’ head of global business development, Urvit Goel, emphasized<\/a> that the platform’s use of Ethereum’s robust security and NFTs’ unfalsifiable uniqueness improves ticket authenticity, reduces the likelihood of counterfeiting, and gives fans a digital memento they can keep forever.<\/p>\n

The ticketing platform combines the robust security of Ethereum with the forge-proof uniqueness of NFTs to enhance ticket authenticity and prevent counterfeiting while providing fans with lasting digital mementos.<\/p><\/blockquote>\n

Polygon Rally<\/b><\/h2>\n

In response to this deal, MATIC prices rallied on May 26, soaring to as high as $0.97. Even though prices have since retracted, the upswing momentum remains and the token appears to be bottoming up.<\/p>\n

Related Reading: Shiba Inu Burn Rate Surges 1500% In 24 Hours, Yet Price Continues To Struggle In Red<\/a><\/div>\n

Whether this event will trigger more gains in the sessions ahead is yet to be seen. However, the spike that lifted MATIC above key resistance levels on May 26 may be the foundation for another rally going forward.<\/p>\n

Currently, MATIC is down 40% from February 2023 highs and remains under pressure, trailing other assets, including BTC.<\/p>\n

\"MATIC<\/a>
MATIC price May 28 | Source: MATICUSDT On Binance, TradingView<\/a><\/figcaption><\/figure>\n

Besides price action, the release of the new ticketing platform on Polygon is when NFTs are finding new uses after a concerning contraction in 2022.<\/p>\n

Bertrand Labays, Platinum Group’s Chief Operating Officer, said the integration of blockchain in their operations is \u201cimperative\u201d and that NFTs would play a role in sports.<\/p>\n

NFT\u2019s Rising Popularity<\/b><\/h2>\n

Last year, NFTs trading volumes contracted, following the sharp retracement of asset prices. While MATIC recovered in Q1 2023, gains have not been strong in Q2 2023. However, the platform is positioning itself as a go-to portal for minting NFTs.<\/p>\n

Specifically, users are finding Polygon\u2019s low-fees and high scalability an advantage. Besides, Polygon\u2019s EVM compatibility means issuers can move their assets to Ethereum.<\/p>\n

Still, whether the recent announcement from Platinum will draw more interest remains to be seen.<\/p>\n

Related Reading: Sui (SUI) Continues Downward Trend As Bears Maintain Control<\/a><\/div>\n

Recently, Formula 1 also partnered with Tezos, a self-amending layer-1 blockchain, to launch a new NFT ticketing system. In this arrangement, Formula 1 fans would easily purchase tickets that exist as NFTs and stored permanently on the Polygon and Ethereum competitor.<\/p>\n

Beyond that, the NFL Players Association (NFLPA) joined hands with Chiliz to create a new NFT ticketing platform on Socios.com for NFL fans to purchase tickets.<\/p>\n

-Featured Image From Canva, Chart from TradingView<\/em><\/div>\n","protected":false},"excerpt":{"rendered":"

Platinium Group, the premier ticket provider for Grand Prix events, has joined forces with an NFT marketplace, Elemint; and a web3 company, Bary, to release a new NFT ticketing system on Polygon that debuted this weekend at the Formula 1 event in Monaco. Tickets for the Monaco Grand Prix, which is ongoing and started on Friday, May 26, are being minted on Polygon, the Ethereum sidechain that enables fast processing speeds and high throughput. Polygon Labs’ head of global business development, Urvit Goel, emphasized that the platform’s use of Ethereum’s robust security and NFTs’ unfalsifiable uniqueness improves ticket authenticity, reduces the likelihood of counterfeiting, and gives fans a digital memento they can keep forever. The ticketing platform combines the robust security of Ethereum with the forge-proof uniqueness of NFTs to enhance ticket authenticity and prevent counterfeiting while providing fans with lasting digital mementos. Polygon Rally In response to this deal, MATIC prices rallied on May 26, soaring to as high as $0.97. Even though prices have since retracted, the upswing momentum remains and the token appears to be bottoming up. Related Reading: Shiba Inu Burn Rate Surges 1500% In 24 Hours, Yet Price Continues To Struggle In Red Whether this event will trigger more gains in the sessions ahead is yet to be seen. However, the spike that lifted MATIC above key resistance levels on May 26 may be the foundation for another rally going forward. Currently, MATIC is down 40% from February 2023 highs and remains under pressure, trailing other assets, including BTC. Besides price action, the release of the new ticketing platform on Polygon is when NFTs are finding new uses after a concerning contraction in 2022. Bertrand Labays, Platinum Group’s Chief Operating Officer, said the integration of blockchain in their operations is \u201cimperative\u201d and that NFTs would play a role in sports. NFT\u2019s Rising Popularity Last year, NFTs trading volumes contracted, following the sharp retracement of asset prices. While MATIC recovered in Q1 2023, gains have not been strong in Q2 2023. However, the platform is positioning itself as a go-to portal for minting NFTs. Specifically, users are finding Polygon\u2019s low-fees and high scalability an advantage. Besides, Polygon\u2019s EVM compatibility means issuers can move their assets to Ethereum. Still, whether the recent announcement from Platinum will draw more interest remains to be seen. Related Reading: Sui (SUI) Continues Downward Trend As Bears Maintain Control Recently, Formula 1 also partnered with Tezos, a self-amending layer-1 blockchain, to launch a new NFT ticketing system. In this arrangement, Formula 1 fans would easily purchase tickets that exist as NFTs and stored permanently on the Polygon and Ethereum competitor. Beyond that, the NFL Players Association (NFLPA) joined hands with Chiliz to create a new NFT ticketing platform on Socios.com for NFL fans to purchase tickets. -Featured Image From Canva, Chart from TradingView<\/p>\n","protected":false},"author":384,"featured_media":535358,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[83565],"tags":[23757,40670,10653,82423,88340,83584],"class_list":["post-535357","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-nft","tag-formula-1","tag-matic","tag-monaco","tag-nfts","tag-platinium-group","tag-polygon"],"acf":[],"yoast_head":"\nMonaco, NFTs, And Formula 1: Reasons Polygon Is Bullish<\/title>\n<meta name=\"description\" content=\"Tickets for the Monaco Grand Prix, which is ongoing and started on Friday, May 26, are being minted on Polygon. 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His specialization in NFTs, blockchain, DeFi, and blockchain news for NewsBTC, combined with a background in mechanical engineering and over a decade of experience in journalism, has allowed him to craft over 10,000 news and feature articles over the past eight years. His diverse range of topics, including technology, Forex, and finance, reflects his comprehensive understanding of the crypto landscape. His technical expertise and analytical skills have been recognized and featured by leading news outlets such as Investing.com, CoinTelegraph, Entrepreneur, Forbes, and other authority sites. Notably, he broke key news, including the Ripple and MoneyGram partnership, cementing his position as a thought leader in crypto. The news exploded. Over 100,000 people devoured this meticulously crafted report, from seasoned investors to curious newcomers. His analysis wasn't just dry facts and figures; it crackled with insight, dissecting the implications of the partnership and its potential impact on the future of finance. His deep understanding of the financial markets, technological advancements, and blockchain developments has made him a respected voice in the industry. Dalmas is also the founder of BTC-Pulse, a crypto news site, further demonstrating his commitment to the field. He firmly believes that DeFi and NFTs are here to stay and will continue to drive financial inclusion. Coming from Nairobi, Kenya, it is easy to see the source of his inspiration: Across Africa, millions lack access to traditional banks. Remote villages, limited documentation, and high minimum balances create insurmountable barriers. DeFi, not just Maker or Aave, for example, but think of Bitcoin and USDT, cuts out the middleman. Forget banks with their limitations. Even so, DeFi isn't a magic solution. The continent still struggles with reliable internet access, and educational campaigns highlighting the benefits of this wonderful solution are insufficient. Moreover, even for those interested, understanding DeFi can look like learning a new language. Dalmas is here to help make the tech easy to understand and digestible, even for beginners. The story of DeFi in Africa is still being written. Challenges abound, but the promise of a more inclusive financial future is a powerful motivator. With innovation and collaboration, Dalmas firmly believes that DeFi could become the key to unlocking Africa's full economic potential. This possibility and its immense value motivate Dalmas to continue breaking key DeFi innovations and more across the globe. His engineering background further enhances his ability to deliver well-thought-out pieces that blend technical insight with clear, impactful reporting. Beyond his professional achievements, Dalmas is deeply passionate about technology and politics. Policies drive adoption, and being at the forefront and keeping up with how they evolve is crucial for the sphere to mature. When Dalmas is not closely monitoring the latest crypto events, he can be found in nature, exploring the picturesque countryside, and traveling with his family and friends. His love for adventure and discovery perfectly complements his investigative and reporting skills. You can connect with Dalmas on X: @Dalmas_Ngetich, or contact him on Telegram @Dalmas_Ngetich.","sameAs":["https:\/\/www.linkedin.com\/in\/dalmas-ngetich-40a67a147\/","https:\/\/x.com\/Dalmas_Ngetich"],"url":"https:\/\/wncen.com\/author\/dalmasngetich\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Monaco, NFTs, And Formula 1: Reasons Polygon Is Bullish","url":"http:\/\/wncen.com\/nft\/monaco-nfts-and-formula-1-reasons-polygon-is-bullish\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/nft\/monaco-nfts-and-formula-1-reasons-polygon-is-bullish\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/05\/Polygon-MATIC-Price.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/05\/Polygon-MATIC-Price.jpg?fit=1380%2C780"},"articleSection":"NFT","author":[{"@type":"Person","name":"Dalmas Ngetich"}],"creator":["Dalmas Ngetich"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["formula 1","matic","monaco","nfts","platinium group","polygon"],"dateCreated":"2023-05-28T11:00:58Z","datePublished":"2023-05-28T11:00:58Z","dateModified":"2023-05-28T11:00:58Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Monaco, NFTs, And Formula 1: Reasons Polygon Is Bullish\",\"url\":\"http:\\\/\\\/wncen.com\\\/nft\\\/monaco-nfts-and-formula-1-reasons-polygon-is-bullish\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/nft\\\/monaco-nfts-and-formula-1-reasons-polygon-is-bullish\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/05\\\/Polygon-MATIC-Price.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/05\\\/Polygon-MATIC-Price.jpg?fit=1380%2C780\"},\"articleSection\":\"NFT\",\"author\":[{\"@type\":\"Person\",\"name\":\"Dalmas Ngetich\"}],\"creator\":[\"Dalmas Ngetich\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"formula 1\",\"matic\",\"monaco\",\"nfts\",\"platinium group\",\"polygon\"],\"dateCreated\":\"2023-05-28T11:00:58Z\",\"datePublished\":\"2023-05-28T11:00:58Z\",\"dateModified\":\"2023-05-28T11:00:58Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/05\/Polygon-MATIC-Price.jpg?fit=1380%2C780","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/535357","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/384"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=535357"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/535357\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/535358"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=535357"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=535357"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=535357"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}