ETH - With This Super New Strategy Polygon Could Soar in Price Next Year
It has been a strange year for Polygon (CRYPTO: MATIC) . Despite routinely earning kudos as the premier scaling solution for Ethereum (CRYPTO: ETH) and generating buzz about its role after The Merge, Polygon just can't seem to get its price to move. Polygon is now trading for less than $1 and is down 65% in 2022. It seems that nothing Polygon has done for the past five months has caused its price to break the $1 mark.
But that could be changing quickly. In late summer, we started to hear more about Polygon's move into NFTs and Web3 . Then, in September and October, we heard about Polygon's move into blockchain-backed customer loyalty programs, including a new program for Starbucks (NASDAQ: SBUX) . This new move into blockchain-backed customer loyalty programs, powered by a technology known as "Supernets," could be the type of exciting game-changing strategy that finally moves the dial on the price of Polygon .
In mid-September, Polygon announced a new partnership with Starbucks featuring non-fungible tokens (NFTs) and Web3 experiences. Starbucks is overhauling its traditional customer loyalty program with the help of Polygon and rebranding it as Starbucks Odyssey. The goal, quite simply, is to turn coffee drinkers into NFT collectors. Customers enrolled in the new Starbucks rewards program will be able to earn, purchase and trade NFTs. With these NFTs, customers will then be able to unlock benefits and "immersive coffee experiences." All of this will be hosted on the Polygon blockchain.
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With This Super New Strategy, Polygon Could Soar in Price Next Year