the tokenization of DPPs on Polygon in NFT format

Polygon’s Chain Development Kit (CDK) was chosen by Arianee to use Ethereum’s L2 for the tokenization of DPPs (Digital Product Passports), in the NFT format.

Polygon NFT: the L2 of Ethereum and the tokenization of Arianee’s Digital Product Passports

Arianee chose the Chain Development Kit (CDK) from Polygon, per develop and optimize a layer 2 dedicated to tokenization of digital product passports (o DPP – Digital Product Passport).

In practice, the Arianee association, made up of over 40 brands such as Audemars Piguet, Breitling, Panerai, Mugler, Moncler and many others, will be able offer brands Polygon-based infrastructureso from exploit the full potential of DPPs and engagement tokens on a very large scale.

Specifically, Arianee used Ethereum’s popular L2, Polygon, and its CDK as an open-source code base for throwing L2 chainsbased on Zero-Knowledge proof with unlimited scalability and unified liquidity.

By integrating with Polygon CDK, Arianee aims to help brands build their blockchain infrastructures in the most secure, scalable and cost-effective way possible.

Since 2018, Arianee has been one of the most widely used protocols in the world, with over 1.5 million DPPs and engagement tokens mined by 50 brands across multiple industries, including luxury, watches, fashion, consumer brands, and entertainment.

As theupcoming European legislation on DPPsdigital product passports are becoming the norm, and brands are slowly adopting them.

Polygon and Arianee: Ethereum’s L2 for tokenizing DPPs in the NFT format

Going forward, Arianee will enable brands to leverage an optimized, application-specific Layer-2 chain (appchain), powered by Polygon, to launch their own digital product passports and loyalty tokens.

About that, Marc BoironCEO of Polygon Labs, said:

“We believe Polygon’s CDK has the potential to revolutionize industries far beyond cryptocurrency and finance. We are happy to see Arianee, a platform that has worked with some of the best global brands on real-world use cases, start building with Polygon CDK”

Also Pierre-Nicolas Hurstel, CEO and co-founder of Arianee, commented as follows:

“We were the first to believe in the Polygon ecosystem and have worked on the mainnet with many of our customers. Today, our decision to build a powerful L2 appchain powered by Polygon CDK allows us to take another important step towards building blockchain-based solutions where performance, scalability, and connectivity are the norm. This development is a step forward for the entire ecosystem, further advancing Arianee and Polygon Labs’ joint mission to give access to scalable, high-performance solutions to brands that want to build scalable projects.”

Small recovery for the MATIC crypto

Polygon’s native crypto, MATIC, appears to not be performing in terms of price as it should. In fact, its performance over the last 12 months was recently analyzed and defined as rather negative.

The price of MATIC is dumped by -32% compared to last year. On the contrary, the other rival layer-2 coins come IMX, OP and SKL appear to have performedthat is, increasing by respectively +216%, +46% and +50% in the last 12 months.

The analysis highlights the probable reasons for this devaluation of the current fourteenth crypto by market capitalization.

Among others, there was talk of the ineffectiveness of Ethereum’s next Dencun upgrade on Polygon. And in fact, it seems that Polygon will not benefit from any reduction in transaction costs.

Not only that, MATIC could be in price dump for too the emergence of other layer-2. Like Arbitrum which, at least in DeFi trading, appears to surpass Polygon.

Anyway, today MATIC seems to be regaining share, with a pump of +6% in the last seven days. At the time of writing, MATIC vale 0,95$.