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Nothing taps Polygon to build NFTs in the build-up to the smartphone launch

Nothing taps Polygon to build NFTs in the build-up to the smartphone launch
Photo Credit: 123RF.com
6 Jul, 2022
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UK-based consumer electronics brand Nothing has announced a non-fungible token (NFT) project in collaboration with Polygon network ahead of the launch of its first smartphone, Nothing Phone 1. The NFT token issued through the project can be used by buyers to gain early access to new products, events, and specific gifts. 

Nothing said that its first NFT token, Black Dots, will be airdropped to Nothing community investors on July 7, while for customers who have pre-ordered the Phone 1, the NFT airdrop will start on July 12. Ten Black Dot token holders from Nothing’s community will be allowed to win exclusive invites to attend the launch event of the Nothing smartphone in London on July 12. 

“With Nothing Community Dots, we’re using Web3 technologies to create more meaningful connections with our community. By partnering with Polygon, we’re delivering an accessible, and importantly, a more sustainable Web3 experience,” Pei said in an email statement. 

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Polygon is a sidechain or layer two network that runs alongside the Ethereum blockchain enabling faster transactions and lower gas fees. Polygon is regarded as the most dependable blockchain network for NFT projects as it allows high-frequency and low-value transactions. 

Though Polygon has been used to launch NFTs by companies in fashion, sportswear, and automotive, this is the first time an electronics brand will be using the network to drop its NFT collection. 

Sandeep Nailwal, Co-founder of Polygon, said, “It is immensely encouraging to see an innovator like Nothing embrace Web3 from the get-go, enabling direct access to Web3.”

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Polygon also claims to have achieved the carbon-neutral status and is planning to go carbon negative by the end of this year.

Nothing was founded in October 2020 by Carl Pei who co-founded the OnePlus brand and was its global director until he started Nothing. It is a privately held company and is backed by GV (formerly Google Ventures), EQT Ventures, C Ventures and other private investors.