Crypto billionaire Mark Cuban bought Polygon (MATIC) a year ago. Crypto expert RJ Fulton explains 3 reasons to still buy dips today. We have prepared the expert’s reviews and recommendations for our readers.
Crypto billionaire’s preferred altcoin: Polygon
Over the past four decades, Mark Cuban has built a reputation as one of the most prolific technology investors of our time. He has amassed a fortune of more than $4.5 billion since his initial investments in the industry during the internet boom of the 1990s. While no stranger to emerging technologies, Cuban is clearly a fan of blockchains and crypto.
cryptocoin.com As you follow, in the last few years Cuban has taken positions in cryptocurrencies like Bitcoin, Ethereum and even the meme-coin Dogecoin. It also has a diverse portfolio of companies, ranging from markets like OpenSea and rival SuperRare, the largest market for Non-Fungible Tokens (NFTs), to start-ups like Fabrica, which is turning real estate into NFTs. He even invested in Layer 2 altcoin project Polygon (MATIC) in May 2021.
Where does Polygon’s supremacy come from?
Because it is not trying to create an alternative to Ethereum. Instead, it provides a scaling solution to help blockchain run more efficiently. Polygon processes Ethereum transactions on the main Blockchain and adds them at a later date. This lowers fees and increases speeds. But most importantly, it maintains compatibility with Ethereum.
The size of his stake in Polygon is unknown. That said, we know the tech guru loves what Polygon has to offer. Cuban’s website describes Polygon as “the first well-structured, easy-to-use platform for Ethereum scaling and infrastructure development.” And Cuban himself said, “I was a Polygon user. I find myself using it more and more,” she says.
Cuban is part of a growing user base flocking to Polygon for a variety of reasons. Ethereum’s smart contracts have made it the most popular Blockchain network. However, this led to congestion, which often resulted in slow and expensive transactions. Slow speeds and high fees are a thing of the past with Polygon. Both people and companies seem to be noticing this. Also, since Cuban’s investment last year, Polygon has made leaps in its pursuit of its long-term development.
Polygon still succeeds despite the cryptocurrency winter
It’s been a busy year for Polygon, even in the midst of a bear market. One of his most notable achievements comes in the world of NFTs. In July, Mark Zuckerberg, Chief Executive Officer of Meta Platforms, announced that Instagram and Facebook will add NFT functionality to their platforms. Thus, users will be able to display their digital collections by connecting their crypto wallets.
One of the four Blockchains to be supported was Polygon. Now Polygon will gain more visibility in front of Instagram’s 1.4 billion users and Facebook’s 2.9 billion users. In addition to the meta news, Polygon is now officially supported by one of the most popular companies in the world, Disney. Polygon has been accepted as a member of this year’s Accelerator Program. It will also take time, funding, and resources from Disney to further develop its long-term goals. The ultimate goal is to develop a partnership from the program and realize Disney’s vision for the future in Web3.
More sectors of the internet are moving to decentralized, permissionless technologies. Polygon hopes to become the blockchain of choice to support such applications. Polygon co-founder Mihailo Bjelic wants Polygon to be the “holy grail of Web3 infrastructure”. In his eyes, the perfect Web3 Blockchain should have three main features. These are: Scalability, Security and Ethereum compatibility. Polygon ticks all these boxes. In this context, it is preparing to become the home of everything on Web3.
Should I buy Polygon (MATIC)?
The future is very bright for Polygon. Innovations and collaborations with Meta and Disney demonstrate that Polygon’s versatility is recognized by the corporate elite. Considering all the advancements in Polygon’s Blockchain, it’s surprising that MATIC has dropped more than 60% from its all-time high. It makes sense for investors to buy a potentially explosive blockchain as Web3 continues to grow.
All of these opinions belong to the crypto expert. That’s why we recommend that you do your own research before investing. It should also be noted that the crypto market is highly volatile and carries high risk.
