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Should you buy MATIC after a partnership with Mastercard

By:
on Jan 9, 2023
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  • In the past 7 days, MATIC increased in value by 12%.
  • Its trading volume saw a spike of 168% in the last 24 hours.
  • MATIC is showing a bullish outlook due to the Mastercard partnership.

Polygon (MATIC/USD) saw a high level of growth in value and trading volume after Mastercard announced a Polygon-based accelerator program.

The program aims to help musicians build careers by leveraging the power of Web3.

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Polygon is a Layer-2 scaling solution, or sidechain, that runs alongside the Ethereum (ETH/USD)  blockchain to enable quicker transactions and lower fees and is powered by the MATIC cryptocurrency.

Mastercard’s partnership with Polygon as a catalyst for growth

In the latest Polygon news, on January 6, 2023, Mastercard made an announcement surrounding their “Mastercard ARtist Accelerator” program.

The blog post outlined that from Spring of 2023, the company will connect five emerging musicians from across the globe with mentors that can help them set up their brand in the Web3 music space.

The program will also feature a live stream of the artists’ work throughout the later part of the year. 

Mastercard will also launch a non-fungible token (NFT) collection called the “Mastercard Music Pass” for those not selected for the program originally.

The intention here is to give holders access to educational materials, and unique resources, through brand collaborations, as a means of helping musicians learn about Web3 integration within the music sector.

“Web3 has the potential to empower a new type of artist that can grow a fanbase, make a living and introduce novel mediums for self-expression and connection on their own terms,” noted Polygon Studios CEO Ryan Watt.

Should you buy Polygon (MATIC)?

On January 9, 2023, Polygon (MATIC) had a value of $0.8624.

MATIC/USD Chart by Tradingview

The all-time high of the Polygon (MATIC) cryptocurrency was on December 27, 2021 at a value of $2.92. Here we can see that at its ATH, MATIC was $2.0576 higher in value, or 238% higher.

When we go over the weekly performance of the cryptocurrency, Polygon (MATIC) had its low point at a value of $0.772616. Its high point, however, was at a value of $0.864049. Here we can see a $0.091433 difference in value or a 12% difference.

In terms of the 24-hour performance of Polygon (MATIC), its low point was at $0.801514, while its high point was at $0.863815. This marked a difference in value by $0.062301 or by 8%.

With this in mind, investors will want to buy MATIC as it can increase to $1 by the end of January 2023.