Polygon (MATIC) is wriggling out of its sustained bearish downtrend on the market today as it is changing hands at a price of $0.5554 after soaring as high as 5% over the past 24 hours. The current outlook is also showing Polygon is on a springboard, when its seven-day outlook is placed in the right perspective.
The Polygon resurgence notably hinges on its latest partnership with Casio electronics manufacturer, which is set to launch its iconic G-Shock watch non-fungible token (NFTs) creator pass on the Layer 2 scaling solution. The creator pass will grant access to innovators to access a dedicated Discord channel for the project.
According to the update, there will be about 15,000 NFT-based G-Shock creator passes, which users can start claiming as of Sept. 23. There are different distribution stages for G-Shock NFT passes, and Casio customers with the company's Casio ID can be a part of the predistribution phase from Sept. 23 to 26, while the general public can take part in the NFT distribution phase from Sept. 26 to 29.
As noted by Casio, the core goal behind the G-Shock NFT passes is simplicity and inclusion, underscoring why the firm chose Polygon as its preferred chain.
Polygon's growing ecosystem
Polygon is primed for more uptrend in the near future owing to its growing ecosystem. Over the past year, Polygon has seen an embrace from more institutions that are making their way into the broader Web3.0 ecosystem to launch their NFT engagement passes.
With this embrace of Polygon, the demand for MATIC is bound to grow in the near term, placing upward pressure on the price. Polygon is trading at about 81% below its all-time high (ATH), implying it has more propensity to accommodate the growth that is bound to come to the ecosystem through its series of partnerships across the board.