JioCoin: Reliance Partners with Polygon to Enter Crypto World

JioSphere web browser users have started noticing the addition of JioCoin, a crypto token built on Ethereum Layer 2 and currently listed on Polygon, a cryptocurrency platform. Although Reliance has not made an official announcement yet, numerous JioSphere users on Android and iOS devices have reported seeing JioCoin on their smartphones.
According to the FAQ section, Reliance describes JioCoins as “blockchain-based reward tokens that users can earn by engaging with different mobile or internet-based apps as decided by Jio Platforms Limited (JPL) using their Indian-based mobile numbers.”
Users can earn these Web3 tokens by interacting with various Jio apps, and the tokens will be deposited directly into their wallets. The value of the tokens appears to depend on user engagement. This indicates that apps like MyJio, JioCinema, and others may soon incorporate JioCoin into their platforms.
The JioSphere web browser description highlights that users can earn JioCoins for free simply by browsing the internet on the platform. The earned tokens can then be accumulated in the Polygon Labs wallet.
Details regarding the value or tradability of JioCoin remain sparse. However, there is speculation that JioCoins may eventually be used for services such as mobile recharges, utility bill payments, and other offerings powered by Jio.
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An official announcement from Reliance is anticipated in the coming days, where the company is expected to outline the value, capabilities, and functionalities of JioCoin.