The renowned Layer-2 scaling solution Polygon (MATIC) and a decentralized data cloud (DDC) platform Cere have joined hands and announced the debut of a joint venture Web3 media platform called DaVinci. Their stated goal is to improve the security of non-fungible token (NFT)-backed assets while also ensuring verifiable and truly decentralized data.
DaVinci is a direct content monetization platform for NFT-backed experiences. It promises to provide decentralized data transfers and NFT, value exchanges easier. The platform, which is powered by Cere’s DDC, allows personalized content to be delivered to NFT holders using smart contracts. It also uses Cere Freeport, Polygon’s NFT mining platform, to mint and trade functional NFTs that grant access to exclusive content.
Polygon CEO believes that NFTs have much more to offer
Sandeep Nailwal, co-Founder of Polygon, said that there is an ocean of things NFTs are capable of doing, and the world has just explored the tip of the iceberg.
“There is so much more that artists and fans are able to accomplish and access through DaVinci that realizes more of the potential of blockchain to the mainstream consumers. Artists and brands get more revenue from their unique content, while fans get better experiences and secure delivery of their assets.”
According to the company, DaVinci’s primary aim is to provide creators with a guaranteed percentage of royalties from any sale as well as a mechanism to receive exclusive new content on a regular basis. Artists would also have access to audience research and analytics tools to tailor their content to NFT investors and fans.
We couldn't be more proud to start our DaVinci Creator Reveals with the incredibly talented World Cup Photography winner @antti_karppinen. Layers of Being Human and other price winning assets will be sold for the first time during Antti's premier #DaVinci exhibition! pic.twitter.com/mFk4ulmf9u
— DaVinci (@onDaVinciNFT) January 19, 2022
Developments and fundings
As TheCoinRise reported, Polygon has secured a $450 million funding round led by Sequoia Capital India, aiming for expansion of its scaling solutions. The company recently launched Ethereum EIP-1559 upgrade to burn MATIC.
Apart from this, the DeFi lending platform Aave also chose Polygon to launch Lens Protocol, Web3 social media protocol.