Ethereum Layer 2 solutions aggregator, Polygon, has continued with its expansion plans with the launch of a new unit dedicated to blockchain gaming, and non-fungible tokens (NFTs).
Polygon announced the launch of Polygon Studios on July 19, 2021. The new enterprise will be focused on helping to advance blockchain gaming and NFTs enabling the platform to “bridge the gap between Web 2 and Web 3 gaming.”
The platform already claims to be an industry leader for blockchain gaming with more than 100,000 gamers on the platform. Additionally, it also runs leading Web3 games like Aavegotchi, Zed Run, Megacryptopolis, Neon District, and Skyweaver.
It also supports a number of metaverse projects such as Decentraland, Decentral.Games, Sandbox, and Somnium Space. On the NFT side, this also includes major marketplace, OpenSea, in addition to Upshot, Unifty, and Unicly, among others.
Polygon to Become the Gaming Standard
The Polygon Gaming Studio will help developers create blockchain-enabled gaming, while the Polygon NFT Studio will aid the development of custom NFT models, and marketplaces according to reports.
The new division has a number of primary objectives with the first being to establish Polygon’s position as the de-facto platform for decentralized gaming. It also wants to create a brand that attracts top builders, artists, and investors to the Polygon NFT ecosystem. Finally, Polygon aims to become the go-to platform for those looking to venture into Web3, the decentralized internet of the future. The company elaborated:
“With the launch of Polygon Studios, games get 360-degree building support, big brands and much loved franchises can launch on Polygon, and gamers can enjoy a whole new world of play to earn opportunities and decentralised gaming,”
Polygon claims to have more than 500 Dapps, around 7 million daily transactions, and over 18 million unique wallets.
On July 12, AltcoinBuzz reported a new collaboration between Polygon and Community Gaming to enable the e-sports tournament organizer to easily deploy competitions on the network.
No Respite for MATIC Holders
Polygon’s native token, which is still called MATIC, has received no boost from the announcement. It has slumped a painful 16% on the day as crypto markets bleed out.
MATIC was trading at $0.639478 at the time of publication according to CoinGecko. The token has lost 36% over the past 7 days and has been blitzed 75% from its all-time high of $2.62 on May 18, 2021.
MATIC is still one of 2021’s top-performing altcoins with a gain of 3,800% since the beginning of the year.
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