POLYGON MARKET & NFTS

#BinanceHODLerBANANA #BTC☀ #iris #BNB_Free

Polymarket is the prediction marketplace on Polygon that’s been tearing up a storm lately amid the ongoing excitement around the 2024 U.S. presidential election. Indeed, the platform just crossed $1 billion in value processed and is accounting for ~6% of all transaction fees paid on Polygon. With its slick UX and support for card payments, Polymarket is offering an app that some normie users don’t even realize is built atop crypto rails. That’s a good thing! Yet even plenty of crypto veterans have overlooked how Polymarket$BTC $ETH $SOL

actually works. For instance, did you know that the so-called binary outcome tokens that underpin the platform’s exchange system are ERC1155 NFTs?So much attention has been given to NFTs as digital collectibles to be speculated on that many have lost sight of how NFTs can be used toward other ends, like as infra building blocks for prediction

marketplaces. NFTs as collectibles are here to stay, and absolutely they are programmably compelling. My grand point, then? Going forward, expect more examples like Polymarket where NFTs are used as building blocks under the hood rather than as premier products themselves. After all, this is one of the main reasons NFTs are so interesting, the format is extremely flexible and composable. What we do with them and make of them remains mainly limited by our imaginations!

veedawgz