Starbucks partners with Polygon, can this boost the price of MATIC?

By:
on Sep 13, 2022
  • MATIC saw an increase in value of 3% in the last 24 hours.
  • The cryptocurrency spiked in terms of trading volume by 107%.
  • The Starbucks partnership with Polygon could mean big news for its future value.

Polygon (MATIC/USD) has teamed up with Starbucks Coffee Company to enable the company to give its loyalty program customers an opportunity to buy and earn collectible non-fungible token (NFT) stamps.

Starbucks Coffee Company has chosen the Polygon network to launch their collectible digital stamps as a power of its Web3 program, Starbucks Odyssey.  

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Polygon is an Ethereum (ETH/USD) scaling and infrastructure development solution with the Polygon SDK, a modular and flexible developer framework.

MATIC is the native cryptocurrency that is used to power all of this.

The Starbucks partnership as a catalyst for growth

In recent cryptocurrency news, we covered how Polygon raised $50 million for a Web3-focused fund. 

Starbucks will now utilize Polygon to launch digital collectible stamp NFTs as part of the Starbucks Odyssey program.

The program is planned to launch later this year. However, there is a waitlist for customers, which went live on September 12, 2022.

This will bring an additional use-case to the blockchain as well as more demand for MATIC as a cryptocurrency, which can drive its value up.

Should you buy Polygon (MATIC)?

On September 13, 2022, Polygon (MATIC) had a value of $0.9262.

At its all-time high point of value, Polygon (MATIC) was trading at $2.92 on December 21, 2021.

When we look at the performance throughout the previous month, Polygon (MATIC) had its highest point of value on August 14 at $1.0436. However, the token’s lowest point was on August 27 at $0.7637.

This means that the cryptocurrency decreased its value by $0.2799 or by 27%.

From August 27 to September 13, MATIC increased in value by 21% or by $0.1625.

With its current momentum, Polygon (MATIC) can climb to $1.2 by the end of the month, making this a solid opportunity for investors and traders to buy MATIC.

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