Polymarket NFTs

Sponsor: Cartesi — Build app-specific rollups with Web2 tooling without the constraints of Web3!

Polymarket is the prediction marketplace on Polygon that’s been tearing up a storm lately amid the ongoing excitement around the 2024 U.S. presidential election. 

Indeed, the platform just crossed $1 billion in value processed and is accounting for ~6% of all transaction fees paid on Polygon. 

With its slick UX and support for card payments, Polymarket is offering an app that some normie users don’t even realize is built atop crypto rails. That’s a good thing! 

Yet even plenty of crypto veterans have overlooked how Polymarket actually works. For instance, did you know that the so-called binary outcome tokens that underpin the platform’s exchange system are ERC1155 NFTs?

So much attention has been given to NFTs as digital collectibles to be speculated on that many have lost sight of how NFTs can be used toward other ends, like as infra building blocks for prediction marketplaces. 

NFTs as collectibles are here to stay, and absolutely they are programmably compelling. My grand point, then? Going forward, expect more examples like Polymarket where NFTs are used as building blocks under the hood rather than as premier products themselves. 

After all, this is one of the main reasons NFTs are so interesting, the format is extremely flexible and composable. What we do with them and make of them remains mainly limited by our imaginations!

📰 General news

• Abstract, the new consumer crypto L2, formally introduced itself and launched its testnet
• Crowdmuse opened its Create flow to all users
• Hypersub added support for crosschain payments
• NFT Pulse unveiled new stats categories
• Zora introduced Sparks, a new unit of measurement for ETH

🎨 Cryptoart & music

• Coop Records joined DRiP on Solana
• Travess Smalley released CRAWL on Feral File

🏆 Digital collectibles

• Doodles introduced Doodlesᵗᵛ
• Ethereum Investors Club launched its EIC02 mints
• Ethereum Stories kicked off a mint for its new documentary trailer
  
• Quantum Cats gifted Weikeng Chen a membership for his STARK verifier research

🎮 Decentralized gaming

• Atari X released a mintable arcade platform on Base
• Axie Infinity started its Origins S9 Final Era gameplay
• Illuvium launched its official gameplay
• Otherside is running its first Project Dragon gaming event
• Parallel introduced high-stakes tournaments in its latest patch
• NPC Labs, the core contributors behind the B3 gaming L3 on Base, raised $21 million in a new funding round
• Treasure launched Magicswap v2 to power Game Exchange (GEX) use cases

📱 Onchain social

• Farcaster Frames now support Polygon PoS transactions
• Joseph Delong unveiled his new crypto social project Untitled
• Yup received investments from Nascent and IDEO Ventures

🪙 NFTfi 

• Flayer rolled out Base support
• NFTfi.com published a research thread on Pudgy Penguin loans

Cartesi has a challenge for all talented devs! Try to hack their Honeypot dApp. Compete in a bug-bounty initiative to test, scrutinize, and refine the underlying code of Cartesi Rollups!

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