Fomo Lab and Polygon are partnering to provide NFTs to the masses by providing a solution to scaling issues. The partnership will see Fomo Lab continue to be one of the most explosive projects in the NFT space thus far!
Fomo Lab have just recently celebrated their 5th month birthday, however, the amount of IP, world class partnerships and futuristic developments regarding NFT utility they have successfully deployed, you would think they have been around for a lot longer – Fomo Lab are truly living up to their name and are showcasing that NFTs will be here to stay. With the motto of “bringing NFT’s to the masses‘ ‘ the team, consisting of crypto/DeFi experts, have built the Fomo Lab platform to ensure ease of use for collectors to provide access to digital collectives and metaverse assets.
Fomo Lab’s native multi-chain NFT marketplace – The Avenue – has seen astronomical success with the launch of various NFT projects such as; placing the first ever Porsche on the blockchain to be sold at auction, providing music IP ownership integrating into an NFT seen in the collaboration between PVLACE and Fomo Lab, the Tyson Fury NFT collection where Fomo Lab made NFT sporting history, presenting the Mark Cavendish NFT collection, partnering with BKFC and the deployment of Phase 1 for the FEG X FOMO Trading Card Game, which has future metaverse application in an PVP style gaming structure – that raised over $800,000 USD in just under 6 days (with $150,000 raised in 15 minutes of the sale going live)!
The Avenue provides the solution whereby artists and collectors have full control of their digital collectibles. It facilitates the ability to view, sell, buy and mint NFT’s that exist on different chains. It is poised to be the most interoperable and exclusive NFT marketplace with impressive metrics which verify this:
– Over 600+ user accounts created
– More than $4.5m in assets listed
– Over 75,000 $FOMO listing fees burnt
– 1,000+ live listed NFTs
– $600,000+ secondary market sales
– Pioneering functionality – the first NFT marketplace to showcase true NFT Bridging Technology for ERC115/ERC721 Tokens presenting a multi-chain NFT utility
The partnership between Fomo Lab and Polygon, a top-15 public blockchain protocol with a market cap of ~$15 billion , was selected by Fomo Lab’s internal team to endeavour upon bringing NFTs to the masses. With revenue generated by Fomo Lab surpassing over $2.3M since inception 5 months ago and overall NFTs sales generating $2.5B last month alone from other platforms, there is evidently an appetite for NFT projects and collectibles. However, the rate of adoption for both NFT creators and buyers is still miniscule with the NFT space having a great distance to go until mainstream adoption and penetration has been achieved.
Polygon believes the collaborative endeavor with Fomo Lab will provide the solution to gain traction and provide confidence to the masses with the use of a robust community, well-versed team and a dynamic ecosystem accompanying both of the crypto projects.
The expansive new opportunities for creators to showcase their NFT projects via the Polygon chain will be done more economically due to the technology embedded within the infrastructure, enabling verified users on The Avenue to mint their NFTs for ~$0.01 or less, allow for the benefit of speeder transactions per second and utility of the pre-exciting gaming infrastructure; which a sector Fomo Lab is stepping into and endeavour upon totally transforming the NFT gaming space.
“Polygon is one of the leading layer 2 EVMs on Ethereum. One of the cheapest to use and one of the fastest networks available, we thought it makes absolutely perfect sense to align ourselves with Polygon as we believe it has the perfect formula to provide GameFi services at scale.” – Zen0x – CTO at Fomo Lab
Fomo Lab and The Avenue are committed to bringing NFTs to the masses by presenting innovative use cases such as gamification of NFTs alongside integrating multiple chains within their NFT marketplace. Users will be able to select which chain, Ethereum Layer 1 or Polygon Layer 2, alongside BSC, they would prefer to mint their NFTs on – giving the users control over where they would like to sell their NFTs.
Polygon is the first well-structured, easy-to-use platform for Ethereum scaling and infrastructure development. Its core component is Polygon SDK, a modular, flexible framework that supports building and connecting Secured Chains like Optimistic Rollups, zkRollups, Validium, etc, and Standalone Chains like Polygon POS, designed for flexibility and independence. Polygon’s scaling solutions have seen widespread adoption with 500+ Dapps, ~567M+ txns, and ~6M+ daily txns.
If you’re an Ethereum Developer, you’re already a Polygon developer! Leverage Polygon’s fast and secure txns for your Dapp, get started here.
About Fomo Lab
Fomo Lab is full suite DeFi and blockchain development & creation studio as well as management company bringing projects to life in the crypto/NFT space and revolutionizing the way non-fungible tokens are utilised. Fomo Lab are at the cutting edge of NFT trends and are endeavoring upon disrupting the futuristic application of NFTs (such as gamification of NFTs within a metaverse) and are committed to building an integral infrastructure to support NFT ecosystem with the native NFT marketplace – The Avenue. The marketplace is centered around the user and enables a seamless experience whilst viewing, selling and buying NFTs and metaverse assets by bringing world class celebrities, artists and athletes, auctioning physical and digital assets and revolutionary NFT projects with cross-chain compatibility and true multi-chain NFT utility.