Illust Partners w/ Polygon to Decentralize the AR Metaverse

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With the myriad of networks to choose from, Illust decided to move forward with Polygon for the following reasons:

Metadata

Provider:

PR Newswire

Retrieved on:

Thursday, September 22, 2022

Information

Tags:

Ethereum, Metaverse, Adoption, Carbon, Time, Dapp, Efficiency, Lightning, NFT, Vernacular, Growth, Stripe, Calendar, Adobe, GSR, Polygon, Friends, Non-fungible token, Ecosystem, GPS, Web3, Meta, Video game, Cryptocurrency, Asset management, Uniswap, L2, Pop

Geotags:

NEW YORK, AR

Organisation:

ILLUST SPACE, Polygon

Summary

Key Points:

With the myriad of networks to choose from, Illust decided to move forward with Polygon for the following reasons:
Illust's vision is to create a decentralized and open AR metaverse for anybody to create and experience.
As many of these experiences require on-chain activity, Polygon helps Illust fully decentralize its product while maintaining transparency and environmental efficiency.
Brian Trunzo, Metaverse Lead at Polygon, said: "Illust is pushing the boundaries of what's possible with metaverse technology.
By creating a standard for digital x physical "phygital" assets, Illust is partnering with Polygon and other stakeholders to create a more interoperable, trustless, and accessible AR metaverse.

Illust Partners w/ Polygon to Decentralize the AR Metaverse

NEW YORK, Sept. 22, 2022 /PRNewswire/ -- Polygon, an Ethereum scaling platform onboarding millions to web3, has partnered with Illust AR to help it build and scale the future augmented reality metaverse. This announcement comes at the beginning of a series of announcements and projects to be made public in Q3 and Q4 of 2022. Some of these announcements include and are not limited to:

Launch of the Geospatial Registry (GSR)
New investment partners
New activations and project partnerships

With an exciting calendar planned, Polygon will be supporting the growth and development of Illust.

Why did Illust choose Polygon?

With the myriad of networks to choose from, Illust decided to move forward with Polygon for the following reasons:

Reliability of the network
Affordability of transactions
Environment sustainability

Illust's vision is to create a decentralized and open AR metaverse for anybody to create and experience. As many of these experiences require on-chain activity, Polygon helps Illust fully decentralize its product while maintaining transparency and environmental efficiency.

Polygon recently attained carbon-neutral status and has pledged to go carbon negative by the end of 2022.

Brian Trunzo, Metaverse Lead at Polygon, said: "Illust is pushing the boundaries of what's possible with metaverse technology. Fostering interoperability is of utmost importance to metaverse development, and coupling with Polygon's decentralized and composable ecosystem will help bring that vision to reality."

Some of Illust's Products are made stronger by Polygon POS

The Proof of Presence (PoP) network is an on-chain system for delivering activity and location data as an ERC-721 token back into a visitor's hands on the Illust AR app. PoP tokens cost both time and money to mint and transfer. By using Polygon POS, the PoP protocol can move with lightning speed delivering these "in-game" achievements to users affordably and quickly.

The Geospatial Registry is another tool from Illust that will benefit from the Polygon collaboration. The GeoSpatial Registry is an on-chain repository for a digital asset and its GPS coordinates (or geohash). The GSR serves as the backbone of a decentralized and interoperable physical-digital world. Any metaverse can be built on top of the location and asset data minted on the GSR — expanding interoperability and opening up new worlds of experience. The GeoSpatial Registry is to metaverse projects what the Royalty Registry is to NFT marketplaces. By creating a standard for digital x physical "phygital" assets, Illust is partnering with Polygon and other stakeholders to create a more interoperable, trustless, and accessible AR metaverse.

Lastly, Illust offers creators free minting on its platform. Free minting encourages participation for those new to web 3.0, offers convenience, and challenges creators to innovate since there's zero financial risk. This is all made possible through Polygon POS.

Plans for Illust x Polygon

Illust has big plans for the future. By the year-end of 2023, Illust is looking to have over 100,000 digital pieces, experiences, and geofences referenced across the GeoSpatial Registry and its application. Illust is confident in its partners to help them achieve this goal.

About Illust

lllust is a platform for creating and discovering different realities.

Creators on Illust use augmented reality tools to place NFTs in neighborhoods, craft localized messages for friends, and publish interactive games for play. Visitors own their data in PoP (Proof of Presence) tokens and are exchangeable for goods and services from Illust's creator and brand partners.

About Polygon

Polygon is the leading blockchain development platform, offering scalable, affordable, secure and sustainable blockchains for Web3. Its growing suite of products offers developers easy access to major scaling solutions including L2 (ZK Rollups and Optimistic Rollups), sidechains, hybrid, stand-alone and enterprise chains, and data availability. Polygon's scaling solutions have seen widespread adoption with 37,000+ decentralized applications hosted,1.94B+ total transactions processed, 164M+ unique user addresses, and $5B+ in assets secured. The network is home for some of the biggest Web3 projects such as Aave, Uniswap, OpenSea and well-known enterprises including Meta, Stripe and Adobe. Polygon is carbon neutral with the goal of leading the Web3 ecosystem in becoming carbon negative.

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.

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SOURCE Illust Space