The price of Polygon (CCC:MATIC-USD) has gone up by around 25% this week on the heel of several exciting developments. The MATIC-USD crypto gained popularity this year after presenting a layer-2 scaling solution, which helps to lower transaction fees on the Ethereum (CCC:ETH-USD) blockchain. Earlier this year, Polygon’s team also unveiled Polygon Studios, which plans on committing $100 million to projects leading the transition to Web3. Some of Polygon Studios’ current investments include DraftKings (NASDAQ:DKNG) and Avocado Guild.
Polygon recently announced a partnership with GameOn Entertainment (OTCMKTS:GMETF) as well to develop NFT-based (non-fungible token) games. The partnership will have Polygon Studios provide 50% of non-dilutive funding for ongoing product development costs. Specifically, the funding will help GameOn spearhead the creation, minting and selling of NFTs on the games it currently operates.
GameOn CEO Matt Bailey had this to add about the recent partnership:
“Leveraging Polygon’s technology, GameOn continues to lean into blockchain and NFTs, bringing innovative gamification to the rapidly growing Web3 and metaverse economies […] Through resource-driving partnerships and M&A, we’ll continue to double down on being the one-stop shop for gamification, including NFT-based games.”
Additionally, fans of MATIC will want to mark their calendars for Dec. 9. This is because the Polygon team will be hosting the “Zk Day” summit then to discuss zk scaling, which is a proofing algorithm that could possibly change the future of blockchain computing. The letters “zk” stands for “zero knowledge.” The algorithm promises to make transactions more secure, decentralized and reliable.
Don’t take this news lightly — the Polygon team announced on social media that zk scaling is “the most promising solution for scaling #Ethereum.” Further, Polygon piqued fans’ interest when it stated it would be making a surprise announcement at the summit.
So, with all these exciting developments coming to fruition, let’s take a look at the Polygon price predictions that crypto analysts have in mind.
Polygon Price Predictions
- CoinQuora has a 2022 price target of $7.50 and a 2025 price target of $35. The 2022 price target represents an upside of 259%, while the 2025 target represents an upside of over 1,500%. CoinQuora cites Polygon’s exciting new developments and partnerships as well as technical analysis as reasoning for its price targets.
- GovCapital has a 2026 price target of $10.92. This target represents an upside of more than 420%. The price target is based on a “custom algorithm” based on deep learning. The algorithm takes several factors into consideration, such as volume, market cycles and the performance of other coins.
- WalletInvestor has a 2026 price target of $10.66. This price target represents an upside of 410%. The target is based on their artificial intelligence (AI) model and technical analysis.
- Finally, Digitalcoin has a 2028 price target of $9.33. This target represents an upside of 346%. Digitalcoin developed their Polygon price prediction based on historical data and a proprietary algorithm.
On the date of publication, Eddie Pan did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.