Polygon Labs, a key player in the blockchain ecosystem, has reportedly paid Starbucks $4 million to host the coffee giant's doomed foray into crypto and NFTs, known as the Odyssey project, on its platform. This move has sparked discussions within the crypto community, with some praising the Polygon Biz Dev team's efforts to bring mainstream attention to blockchain, while others question the strategic value of such partnerships, especially considering the challenges facing gaming in the Polygon ecosystem and the allocation of $100M. Critics argue that the funds, which come from treasury funds and are seen as a form of bribery, could have been better allocated. Despite skepticism over the effectiveness of these efforts, the payment to Starbucks is seen as part of a broader strategy by Polygon to enhance its visibility, reputation, and liquidity in the competitive blockchain space through its $MATIC currency.
Polygon paid Starbucks $4m to host its failed crypto project. One might look at this and say “what idiots” but it’s actually instantly accretive given the reputation boost and liquidity for its own $MATIC currency that it constantly dumps on retail that has literally no real use.
Polygon paid $4M to Starbucks Told everyone they chose it over Solana/other chains cause it was simply superior Turns out it was only superior in bribery https://t.co/WZC5vVnuPW
NEW: CoinDesk report indicates Polygon Labs paid Starbucks $4 million for Starbucks Odyssey to live on Polygon. https://t.co/A9T8fHZdxo
"Polygon Biz Dev team is the best" "No one brings in the normies like Polygon" "$MATIC biz dev best in the game" Was it really not that obvious??? LOL Token holders subsidized these "opportunities" with treasury funds. Do you think it was worth the $4M? https://t.co/hrYQtiGxTf
Companies usually pay tech vendors for services rendered. For @Starbucks' doomed foray into crypto and NFTs on @0xPolygon, it was the other way around. https://t.co/nASLcTFubM
Yep, gaming in the Polygon ecosystem really must be dead. Not sure where $100M is going to go to work. https://t.co/KSmWLaDROj