Should you buy MATIC after Nike launched the NFT platform on Polygon?

One of the largest apparel companies, Nike has launched a new Web3 platform called .Swoosh aimed to offer Polygon (MATIC/USD)-based non-fungible token (NFT) products.

Polygon is a blockchain scaling platform, one aiming to scale Ethereum (ETH/USD) compatible blockchain networks as a Layer-2 solution powered by the MATIC cryptocurrency.

The launch of .Swoosh as a catalyst for growth

In the latest Polygon news, Nike has become one of the largest fashion-world companies to enter Web3 through RTFKT, an NFT and digital apparel startup it acquired in 2021.

The .Swoosh platform aims to be the center of Nike’s digital efforts within Web3. This platform will be used to launch virtual apparel like t-shirts and sneakers for avatars which can be used within Web3 games.

Each of these NFTs will also be minted on top of Polygon, where the previous Nike and RTFK drops were launched directly through Ethereum. Polygon officially confirmed this on November 14, 2022, on Twitter.

Should you buy Polygon (MATIC)?

On November 15, 2022, Polygon (MATIC) had a value of $0.9282.

The all-time high of the Polygon (MATIC) cryptocurrency was on December 27, 2021, when it reached a value of $2.92. Here we can see that the token was trading $1.9918 higher in value, or by 214% at its ATH.

When we go over the cryptocurrency’s historical performance, Polygon (MATIC) had its low point at a value of $0.782644 in the last seven days, while its high point was at $1.22. Here we can see an increase in value of $0.437356 or by 56%.

In the last 24 hours, however, Polygon (MATIC) saw its low point at $0.897136, with its high point at $0.964897. This marked another increase of $0.067761 or by 8%.

Investors might want to take up the opportunity to buy MATIC as it can climb to $1.5 by the end of November 2022.