Zipmex Taps Polygon To Further Metaverse Efforts in Asia-Pacific

The exchange said the partnership will help draw in new users as part of its “long-term strategy” for future growth

article-image

The Zixel Metaverse | Source: Zipmex

share
  • Asian exchange Zipmex has partnered with polygon in an attempt to capture some of the spoils of the nascent market
  • The partnership coincides with Thailand’s “first-ever” metaverse concert by the exchange hosted on Decentraland

Digital asset exchange Zipmex has entered into a strategic partnership with Polygon’s gaming arm in an attempt to further the exchange’s metaverse ecosystem across the Asia-Pacific region.

The Singapore-headquartered exchange, which launched its NFT platform Zixel last month, said the partnership with Polygon Studios would help draw in new users as part of its “long-term strategy” for future growth, according to a recent press release.

As part of the deal, the firm also said Polygon would be rolling out “new virtual experiences” on the metaverse with Zixel, as well as investing in the exchange’s native token, ZMT. Zipmex’s product will leverage the Polygon blockchain that purports to be the “best in class” solution for energy efficiency and scaling.

The move comes as thousands of companies globally are seeking to expand into virtual worlds in a bid to enhance their brand presence and capture a segment of the potentially lucrative sector. Last week, US retail corporation CVS Pharmacy filed a trademark application to sell “downloadable virtual goods” in the metaverse.

“We look forward to introducing new metaverse initiatives via Zixel…as well as normalizing crypto and blockchain as part of life in Southeast Asia,” said Steven Bryson-Haynes, business development head at Polygon Studios.

As part of its announcement, Zipmex’s NFT platform launch has coincided with Thailand’s “first-ever” metaverse concert hosted on Decentraland, as well as a physical metaverse exhibition, to celebrate the launch.

The exhibition, “Metaworld by Zixel,” runs until March 20 and allows participants to partake in a number of experiences allowing them to “explore, create and trade on Decentraland” in a bid to familiarize new users.

Zipmex is estimated to account for roughly one-quarter of the total revenue of the digital asset market in Thailand, consisting of roughly 1.7 million traders across a number of domestic exchanges, according to a report by the Bangkok Post last year that cited the country’s Securities and Exchange Commission.

Around 3.6 million people, or 5.2% of Thailand’s total population, currently own cryptocurrency, according to data by Singapore central bank-compliant payments firm Triple A.


Get the news in your inbox. Explore Blockworks newsletters:

Tags

Decoding crypto and the markets. Daily, with Byron Gilliam.

Upcoming Events

Old Billingsgate

Mon - Wed, October 13 - 15, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

recent research

Flashnote Template (41).png

Research

We believe that few tokens at the application layer are diverging more from fundamentals than ZORA. Its fully-diluted P/S sits at 90x, pricing significant growth despite a consistent decline in weekly revenues since late July. We foresee an 80% decrease in protocol net margins due to a recent update to the fee structure that reduces trading fees from 3% to 1%, while boosting creators’ portion of the fee split. ZORA’s supply overhang also represents a near-term headwind, with 45% of ZORA’s supply (4.5B tokens or $350M at current prices) earmarked for the team & investors beginning to unlock on October 23, 2025 (36-month linear vesting schedule).

article-image

Insiders have the best information — markets should be willing to pay for it

article-image

The CFTC-regulated exchange is opening doors to crypto builders and traders through grants, partnerships, and new deposit options

by Blockworks /
article-image

DFS tells banking organizations to integrate blockchain monitoring tools to curb money laundering and sanctions risks

by Blockworks /
article-image

New short and long-term priorities include L1 gas boosts, ZK-EVMs, privacy reads, and a lean, quantum-resistant Ethereum

by Blockworks /
article-image

The new stBTC token redistributes Bitcoin gas fees to users, creating liquid yield without inflation or lockups

by Blockworks /
article-image

The reserve will collect protocol revenues to back W token, alongside new yield and unlock schedule

by Blockworks /