Polymarket Confirms Token Airdrop, But US Launch Is Priority — Details
According to the agency’s Chief 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 Release To Come After US App Launch
In a current interview, Moddaber disclosed that Polymarket will finally launch a crypto token, which shall be accompanied by an airdrop. The firm’s government claimed that they intend to offer worth via the potential launch of a cryptocurrency.
Moddaber stated within the interview:
We might have launched a token every time we wished, and it’s simply how thorough we need to be about it. We need it to be a token with true utility, longevity, and to be round eternally, proper? That’s what we count on from ourselves, and that’s what I believe everybody within the area expects from us.
However, the Polymarket Chief 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 obtained the inexperienced mild from the Commodity Futures Trading Commission (CFTC) to launch within the United States.
Moddaber questioned the necessity to rush a crypto token launch when the precedence needs to be on the US app. “After the US launch, there shall be a give attention to the token and getting that reside and ensuring that it’s properly achieved,” the advertising and marketing government stated.
While 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 Massive Valuation Growth
Polymarket, which gained prominence in 2024 in the course of the 2024 US elections, has turn out to be a significant participant within the prediction market over the previous yr. As a results of this rising reputation, the agency has been in a position to safe quite a few partnerships in current months.
Most just lately, the crypto prediction agency secured a $2 billion investment from the New York Stock Exchange’s (NYSE’s) guardian firm, Intercontinental Exchange (ICE). This funding spherical introduced its valuation to round $9 billion earlier this month.
According to the most recent report, the corporate is reportedly getting ready for an additional funding spherical, because it eyes a $15-billion valuation.
