Based on 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 latest interview, Moddaber disclosed that Polymarket will ultimately launch a crypto token, which will likely be accompanied by an airdrop. The corporate’s govt claimed that they intend to offer worth by means of the potential launch of a cryptocurrency.
Moddaber stated within the interview:
We may 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 area expects from us.
Nonetheless, the Polymarket Chief Advertising and marketing Officer highlighted that the first focus is presently on the US app launch. As Bitcoinist reported in September, the crypto prediction platform has obtained the inexperienced mild from the Commodity Futures Buying and selling Fee (CFTC) to launch in the US.
Moddaber questioned the necessity to rush a crypto token launch when the precedence must be on the US app. “After the US launch, there will likely be a concentrate on the token and getting that reside and ensuring that it’s properly achieved,” the advertising and marketing govt stated.
Whereas Polymarket has had its justifiable share of hassle with the regulatory authorities lately, the latest 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 throughout the 2024 US elections, has turn into a serious participant within the prediction market over the previous yr. Because of this rising reputation, the agency has been capable of safe a lot of partnerships in latest months.
Most not too long ago, the crypto prediction agency secured a $2 billion funding from the New York Inventory Trade’s (NYSE’s) mother or father firm, Intercontinental Trade (ICE). This funding spherical introduced its valuation to round $9 billion earlier this month.
Based on the newest report, the corporate is reportedly making ready for one more funding spherical, because it eyes a $15-billion valuation.
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