- Polymarket CMO has confirmed nativetoken plan
- The public has speculated Polymarket to announce a native token for years
- The platform views its token to be one with utility value and longevity
Polymarket, the predictions market giant, is definitely planning to launch a native token for its ecosystem. Matthew Modabber, the chief marketing officer (CMO) of the platform spoke about the plan during a podcast interview with Degenz Live.
“There will be a token, there will be an airdrop,” Modabber said on the podcast.
The public has speculated Polymarket to announce a native token for years. Touching upon this sentiment, Modabber said that Polymarket could have launched a token whenever the team wanted — however, he claimed that they viewed their token to have true utility and longevity.
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“When we do something we want to do really well,” he stated, adding that they wish to position their token for a long market run.
For now, Modabber did not confirm a specific timeline within which a Polymarket token could expectedly debut in the market.
The buzz around this upcoming token gathered wind after Polymarket founder Shayne Coplan recently hinted at the potential launch of a native $POLY token by re-sharing a detailed analysis around this to-be-launched token. Modabber had also commented on the post.
Launched in 2020, Polymarket lets people bet on the most likely outcome of future events. Users can buy and sell shares in the outcomes around financial markets, crypto, sports, politics, and entertainment.
The platform touched a billion dollar valuation in June this year after raising $200 million in funding. The platform is now in talks with investors looking to boost its cap to touch $12 billion to $15 billion.
Polymarket is also deepening its ties with the crypto sector. Just this week, for instance, it went on-chain on the Binance Smart Chain (BSC).
