The9’s NFTSTAR Comes To Polygon

Polygon Labs

September 23, 2021

The9 Ltd., an online entertainment company, Polygon and Protocol Labs Inc., announced they plan to collaborate on a new non-fungible-token (NFT) trading platform that provides users with the ability to purchase, trade, and interact with NFTs.

NFTSTAR, a wholly-owned subsidiary of The9, will prioritize Polygon as the public blockchain for its platform and GameFi Play-to-Earn projects. NFTSTAR is expected to launch in the fourth quarter of this year.

The platform will offer NFT collections created by global stars’ licensed IPs. Users can buy from stars’ NFT collections through the platform, and each NFT collectible will have a unique record on the IPFS network, benefiting from Filecoin and Polygon’s security. The NFTSTAR platform will accept general payment methods, such as credit cards, to offer a simple-to-use way for mainstream consumers to participate. The platform dubs itself a next-generation community where you can buy and trade NFT collections featuring world-class stars.

In addition, Polygon, The9, and Protocol Labs will initiate discussions to form a GameFi fund, which will seek promising GameFi projects to invest in and provide financial and technical support to them. The three parties will also collaborate to identify new partners for the fund and explore potential investment opportunities globally.

NFTs - non-fungible tokens - have made a splash in the tech world and have captured the attention of established internet giants this year. More than $2 billion was spent on NFTs in the first quarter of 2021, a surge of about 2000% from the previous quarter. And an NFT minted by the artist Beeple sold for $69 million at a Christie’s auction.

Polygon has become the de-facto standard for NFTs and a majority of web 3.0 games and NFT platforms today use Polygon. Other NFT projects and blockchain games that have moved to Polygon include Knightlands, Nifty Comedians, and Nonce Finance. NFTSTAR is another vote of confidence in Polygon for the front-running companies in the gaming sector.

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