Polygon Launches POL Token On Ethereum Network; Mastercard Partners With Crypto Payment Firm MoonPay

The team migrated the POL token contract to the Ethereum network, paving the way for it to replace MATIC in the future. On October 25, Polygon Labs announced that its Polygon coin (POL) has gone live on the Ethereum network. The new token will replace MATIC, the ecosystem’s existing token. Users are not now required to trade in their MATIC for POL, according to the team.

The new token was generated on October 25 at 9:06 am UTC, based on blockchain data. It is called the “Polygon Ecosystem Token” in full. The Polygon team stated in the announcement that POL will “power a vast ecosystem of zero knowledge-based Layer 2 chains” by putting in place a “re-staking protocol” that enables token holders to stake their tokens on several chains, thereby carrying out a variety of tasks.

The announcement of the token will now open the door for the implementation of other Polygon 2.0 roadmap items, such as the introduction of a new staking layer for the ecosystem, the upgrade of the current proof-of-stake (PoS) network to zkEVM layer-2, and the development of a shared liquidity protocol for all Polygon networks, according to the post.

Neon Machine Raises $20M In Series A Funding For ‘Shrapnel’

Neon Machine, a Web3 game developer, raised $20 million in Series A funding to develop Shrapnel, the much-awaited extraction shooter. The company claims a cast of employees whose collective entertainment industry resume contains titles such as Halo, Call of Duty and Westworld. This funding round comes after a seed round of $10.5 million in June 2021. It received money from Tess Ventures, Franklin Templeton, Brevan Howard Digital, Gryphon Gaming Partners, and IOSG Ventures.

Neon Machine is promoting Shrapnel, an ambitious game project, as a AAA game, which is a term for video games with excellent production value, marketing, and budgeting. Gameplay videos from Neon Machine's YouTube channel and the game's official website indicate that Shrapnel is a first-person shooter with multiplayer elements. The game, which isn't even in pre-alpha testing yet, is supposed to have competition in the form of “extraction” features, wherein the player must leave the game with any loot they locate in order to keep it.

Mastercard Partners With Crypto Payment Firm MoonPay For Web3 Services

Global payment giant Mastercard has partnered with cryptocurrency payment platform MoonPay to explore the potential benefits of cryptocurrencies. They plan to collaborate on Web3-based marketing techniques as part of efforts to find new ways to connect with Mastercard consumers.

On October 25, MoonPay formally announced their partnership to investigate how Web3 capabilities may enhance the marketing experience or create new channels of communication with Mastercard customers.