Polygon Studios established to build a blockchain gaming powerhouse
Blockchain company Polygon has created Polygon Studios to cement their position as a platform for NFTs and play-to-earn gaming. They want to become the bridge between the current internet and web 3.0.
The newly established Polygon Studios will need to connect builders, creators, artists, and investors in the NFT ecosystem. They want to become the go-to platform for existing brands to venture into the decentralized world of web 3.0.
Polygon itself claims to have served over 100,000 gamers with their blockchain. With F1 Delta Time, Ember Sword, The Sandbox, Cometh, Aavegotchi and 0xUniverse some of the most popular games use the Polygon blockchain.
Headlined by Axie Infinity, play-to-earn gaming is making a new for itself in the mainstream. In addition a variety of DeFi products add elements of gamification with great success. Aavegotchi, Cometh, CryptoBlades and My Defi Pet would be some of the best examples. It’s no surprise that Polygon wants to double down on play-to-earn gaming, as it’s often seen as one of the next big trends in the blockchain industry.
Polygon usage increased drastically
Six months ago nobody would’ve expected the growth Polygon has had this year so far. According to the DappRadar Industry Report, Polygon surpassed Ethereum in the second quarter of this year based on active user wallets. At the end of June they recorded 73,000 daily active wallets, which would be an increase of 13,000% compared with the same period last year.
Most of the activity happening on Polygon can be attributed to decentralized finance (DeFi). Traders had more than $4 billion total value locked (TVL) in the Polygon ecosystem. Even though this is more about financial products, it’s actually quite relevant for blockchain gaming as well.
Play-to-earn games on the blockchain use their own in-game economy, often with their own custom token. Gamers can earn these tokens by playing the game, and then sell their earnings on an exchange like QuickSwap or ComethSwap. Play-to-earn games have a real economy with demand and supply, and therefore the value generated from it taps into DeFi as well.