Web3 news, July 8: It’s all about Polygon this week

It looks like Polygon has taken over the web3 world this week with major headlines circling around the network and its ecosystem. 

Reddit releases Polygon-built NFT avatars collection

A social media and forum platform, Reddit has announced the launch of an NFT collection Collectibles Avatars that will be hosted on Polygon’s blockchain.

Reddit, in partnership with independent artists, has created avatars that users will be able to buy and customize, as well as use the artwork on different platforms.

The peculiar thing about these avatars is that they could only be bought with fiat money – local currencies, not cryptocurrency.

“In the future, we see blockchain as one way to bring more empowerment and independence to communities on Reddit. Blockchain-backed Collectible Avatars are one of the early steps we’re taking to test out the potential benefits of this concept on Reddit,” the company said in the press release.

Ape Now, Pay Later: New service lets users buy Apes 

Teller, a Polygon-based platform, is offering an unexpected service: it lets their users buy NFTs from a number of projects and pay for them afterward.

The project called Ape Now, Pay Later is based on Polygon and provides access to a range of NFT projects, including the Bored Ape Yacht Club, Mutant Ape Yacht Club, Doodles, Adidas Originals: Into the Metaverse, RTFKT-MNLTH, Moonbirds, and a few more. The platform’s users will have to pay a minimum down payment of 50%, after that, Ape Now, Pay Later will try to match the potential borrower to a lender.

“Buying NFTs is one of the core things Web3 consumers want to do right now. Buy now, pay later is a no-brainer,” founder and CEO at Teller Finance Ryan Berkun told Decrypt.

Polygon partners with a tech startup to offer NFTs on a smartphone

A tech startup called Nothing is integrating Polygon to provide NFTs using the Ethereum scaling tool on its new Android smartphone called Nothing Phone (1).

The non-fungible tokens (NFTs) called “Nothing Community Dots” will provide perks to the Nothing community, including airdrops. One of the very first perks is an invitation to the official Nothing Phone launch in London on July 12.

“This launch is designed to take the Nothing brand beyond consumer tech, making it one of the first in the sector to bridge real-world products with the fast-growing Web3 space. In the future, the goal is to make all of Nothing’s phone products and other ecosystem devices future-ready by supporting sustainable and secure access to Web3 applications,” Polygon said in the press release.

Important reads

Republican Sen. Lummis: Democrat Sen. Gillibrand is teaching me about NFTs – Decrypt

Croatian Web3 startup offers lifetime Netflix and Spotify membership via NFTs – Cointelegraph

Top 10 celebrity NFT portfolios in 2022 – NFT Evening

How a fake job offer took down the world’s most popular crypto game – The Block

Image: PYMNTS

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