Quick take
- Polygon has announced the launch of Web3 platform eDAO.
- The leading Ethereum scaling solution wants to onboard brands from Web2 to Web3.
- Jump Capital, Alphawave, Brevan Howard have partnered with Polygon Studios in the project.
Polygon has launched a Web3 platform called eDAO to help brands and fans transition from Web2 to Web3.
Brands and creators will use eDAO to design and launch global art, media and entertainment Intellectual Properties (IPs) at scale into the exciting world of Web3. The platform plans to create a unified experience featuring a wide range of culture and entertainment events, allowing communities to gain access with a single pass to Web3.
The project has attracted backing from some of the leading venture capital firms and angel investors, including Jump Capital, Alphawave, Brevan Howard, Polygon studios and Sandeep Nailwal, CEO of Polygon.
The platform’s primary goal is to focus on brands and communities making the first step into Web3, including those involved in art, music, film, events and blockchain gaming.
The eDAO has offered to provide investment, technology, marketing strategy and other advisory services to help onboard brands from Web2 into Web3. The organisation also seeks to offer support and community acquisition and nurturing to NFT projects.
The eDAO has leveraged the expertise of leading Web3 investors and industry veterans including incubators, advisors and partners to help through the scaling process.
The project is headed by Anand Venkateswaran as co-founder and chief executive officer, while Mairu Gupta will be the chief operating officer.
Polygon’s new project is centred on creating experiences that are not just immersive and incentivised, but also highly accessible. The platform’s ecosystem will be powered by Dynamic NFTs (DNFTs).
The platform will utilise fluid smart contracts and a socketed architecture, allowing the non-fungible tokens to evolve de[pending on response and behaviour, which will then earn members equity over time.
Commenting on the eDAO launch, Nailwal said: “We are thrilled to be collaborating with eDAO, who will lead exciting innovation in bringing Web3 adoption worldwide, through their vast experience in NFTs across the sports, media and entertainment industries. Polygon is excited to provide scalability and security to a project that prioritises fans and digital communities in their transition from Web2 to Web3.”
On the other hand, Gupta commented: “Collaborating with Polygon has given us the tools to provide a secure and engaging user experience for fans starting their Web3 journey with eDAO.
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