South Korea's SK Telecom Co. has joined hands with Polygon Labs, a New York-based global blockchain company, to expand its Web3 ecosystem.
Both companies on Thursday signed a memorandum of understanding on forming a strategic partnership at SK Telecom headquarters in Seoul. Web3 refers to an internet environment that uses decentralized technologies such as blockchain. In Web3, users can own and manage their personal information and data and store then in individual online data storage sites instead of centralized servers. Polygon Labs is considered a leader in this field, with its network hailed as the "internet of the blockchain sector" for its excellent performance and Ethereum compatibility. SK Telecom will support Polygon's blockchain network on the non-fungible token (NFT) marketplace TopPort, which was launched last year, and a Web3 wallet slated for release in the second half this year. Thus NFT creators using TopPort can trade on Polygon's network. Source: KED Global
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