The leading altcoin project in the cryptocurrency market has announced a new partnership. With this partnership, crypto money will work with Flipkart, one of the world’s leading e-commerce companies. Flipkart, which is mostly owned by the US-based Wallmart, operates in India. However, the partnership includes Web3 and Metaverse, as well as a Blockchain-based e-commerce platform.
This altcoin has partnered with India’s e-commerce giant
India’s leading e-commerce company Flipkart has partnered with an altcoin project. Accordingly, Flipkart will work with Polygon, an Ethereum Layer-2 solution for Blockchain solutions. The partnership, the firm reported, includes the creation of a blockchain-based e-commerce platform. It also includes Flipkart doing Web3 and Metaverse research with Polygon. Following these use cases research, the two firms will focus on developing Flipkart’s Web3 and Metaverse presence.
Interestingly, both Polygon and Flipkart have deep ties to India. However, there is an element that attracts attention on Flipkart. Accordingly, 77% of the company belongs to Walmart, the largest retail chain in the USA. This indirectly means a collaboration between Polygon and Walmart. For MATIC, this new strategic partnership is the last link in a long chain of cooperation. The altcoin project is currently collaborating with different companies such as Starbucks, as well as social platforms such as Meta (Facebook) and Reddit.
How did the Polygon (MATIC) price react to the partnership?
MATIC price continues to show an interesting move against developments around Polygon. Last week, the altcoin price gained 9.6%. Thus, the Ethereum scaling solution outperformed even Ethereum itself. However, a larger price chart yields different results. According to this table, MATIC has been consolidating in a certain price range since July. Accordingly, the asset has been trading at a price of between $0.8 and $0.95 since July. However, this consolidation is normal as the general cryptocurrency market mood affects the asset.
The cryptocurrency market has experienced a series of negative developments in the last 3 months, such as the rising dollar, the bankruptcy of FTX and many other companies. The most severe of these was the collapse of FTX. Once upon a time, the second most respected exchange in the crypto space went bankrupt in just a few days. As Cryptokoin.com reported, extremely negative details have emerged about Sam Bankman-Fried, the CEO of FTX. If these had not happened, the price of MATIC would have already risen above $ 1 . However, the altcoin seems to have recovered from the negativity in the market at the moment.
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