Polygon and Token | Traxx will develop a multi-chain marketplace using NFT technology.

Solution for the Ethereum Layer 2 Polygon has announced a cooperation with Token||Traxx, an NFT music platform. Traxx will be able to expand its NFT marketplace via the agreement by using Polygon’s low-cost and interoperable infrastructure.

Along with using Polygon’s low-cost infrastructure, the Token||Traxx NFT platform will get grant financing from Polygon Studios, the layer 2 giant’s NFT and gaming division.

As a bonus, the Polygon Foundation will help fund the platform’s future development with the help of the artists who want to use it.

Polygon Studios’ head of staff, Ishan Negi, stated:

“NFTs have the potential to favourably disrupt the music business by increasing artists’ share of distribution rights while also granting fans verified ownership. Token||Traxx makes the most of the Web3 creative economy while avoiding Ethereum’s prohibitively high transaction costs and long delays by using Polygon to do this.

There is a new non-fungible token market called Token | Traxx, and it wants to be a part of the possible mass migration of the entire music industry to NFT (non-fungible-token) tech.

A company called NFT wants to be at the forefront of a new independent music creator economy by delivering an NFT platform that will change the way music is sold and also help the whole creative music community as a whole.

Traxx’s multi-chain NFT marketplace will be enabled by the Polygon infrastructure, letting it to run on chains like as Zilliqa, which is already a key founding partner.

Tim Gentry, COO, and co-founder of Token||Traxx, said the following:

“Token  Traxx is pleased to partner with Polygon,”

He continued:

“Polygon’s sustainable and ultra-low-cost blockchain infrastructure, as well as its interoperable ecosystem, provide the ideal launchpad for the project. With cross-chain technologies and cross-chain bridges in place, Token||Traxx will be able to run more smoothly, giving users more choices.

Thanks to Polygon’s innovative Ethereum scaling approach, we will achieve a good user experience with high-speed transactions, near-zero gas prices, and superior community governance. Cross-chain capabilities will also enable us to expand our secondary NFT marketplaces, “

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