In accordance with the agency’s Chief Advertising and marketing Officer Matthew Moddaber, Polymarket will launch a cryptocurrency, however floating an app for its United States customers is the present precedence. This revelation comes after the crypto prediction platform’s founder, Shayne Coplan, teased the potential launch of a “POLY” token.
Token Launch To Come After US App Launch
In a current interview, Moddaber disclosed that Polymarket will finally launch a crypto token, which will probably be accompanied by an airdrop. The corporate’s government claimed that they intend to supply worth by means of the potential launch of a cryptocurrency.
Moddaber stated within the interview:
We might have launched a token at any time when we needed, and it’s simply how thorough we need to be about it. We would like it to be a token with true utility, longevity, and to be round eternally, proper? That’s what we anticipate from ourselves, and that’s what I believe everybody within the house expects from us.
Nevertheless, the Polymarket Chief Advertising and marketing Officer highlighted that the first focus is at the moment on the US app launch. As Bitcoinist reported in September, the crypto prediction platform has acquired the inexperienced mild from the Commodity Futures Buying and selling Fee (CFTC) to launch in the USA.
Moddaber questioned the necessity to rush a crypto token launch when the precedence ought to be on the US app. “After the US launch, there will probably be a give attention to the token and getting that stay and ensuring that it’s effectively completed,” the advertising government stated.
Whereas Polymarket has had its justifiable share of bother with the regulatory authorities in recent times, the current approval by the US CFTC represented the tip of investigations into the crypto prediction platform.
Polymarket Continues Large Valuation Progress
Polymarket, which gained prominence in 2024 in the course of the 2024 US elections, has develop into a serious participant within the prediction market over the previous yr. Because of this rising reputation, the agency has been capable of safe numerous partnerships in current months.
Most just lately, the crypto prediction agency secured a $2 billion funding from the New York Inventory Change’s (NYSE’s) mum or dad firm, Intercontinental Change (ICE). This funding spherical introduced its valuation to round $9 billion earlier this month.
In accordance with the most recent report, the corporate is reportedly making ready for an additional funding spherical, because it eyes a $15-billion valuation.
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