Polygon and Immutable partner on Web3 gaming

Polygon and Immutable have announced a partnership to develop Web3 gaming. The partnership aims to create a platform for blockchain-based gaming that will allow users to interact with the games in entirely new ways. The platform will include advanced features like cross-chain compatibility, digital asset ownership, and seamless integration with other applications on the Polygon network. The partnership is expected to bring significant benefits to both companies, as well as the broader Web3 gaming community, by introducing more secure, transparent, and innovative gaming experiences. The collaboration is an exciting development for the Web3 ecosystem, and it opens up new possibilities for gamers, developers, and investors alike.

Polygon and Immutable Partner to Enhance Web3 Gaming

Polygon and Immutable have partnered to move Web3 gaming forward by enhancing development and adoption. In an announcement on March 20th, both firms will form a strategic alliance focusing on Immutable zkEVM supported by Polygon technology. This partnership will provide developers with faster and cheaper transaction fees compared to Ethereum, as well as more robust and enterprise-grade developer tools to create blockchain-based games.

According to Robbie Ferguson, President and Co-Founder of Immutable, one type of Web3 gaming will allow users to have full ownership of in-game items, including game skins for characters and items. “Billions of dollars of skins are sold each year with no rights for players,” wrote Ferguson, “we’re changing that so players are in control, and ownership is the expectation.” Polygon and Immutable plan to work together to reduce the risk of fraud and duplication, making it easier for both large and small game developers to work with blockchain technology.

The partnership between Immutable and Polygon is expected to increase investor confidence, especially considering the success of projects built on their platforms in 2022. Last year, Immutable X games raised $900 million, while Polygon games raised $850 million. The two companies have also partnered with many big names in gaming, including Square Enix and Unity, as well as other businesses and projects.

Despite each firm’s apparent success, they both faced financial struggles earlier in 2022. Immutable X laid off 11% of its staff after reportedly losing $56 million, while Polygon laid off 20% of its staff, amounting to 100 employees. Both companies, however, remain financially healthy, and their cryptocurrencies rank among the largest circulating tokens. Polygon (MATIC) ranks #9 with a market cap of $10.2 billion, while ImmutableX (IMX) ranks #51 with a market cap of $1.1 billion.

In conclusion, this partnership is expected to have a positive impact on the gaming industry and blockchain technology. Both companies’ efforts will benefit game developers by providing faster and cheaper transaction fees along with robust and secure developer tools, while enhancing user expectations by allowing full ownership of in-game assets. Web3 gaming has enormous potential to change the gaming industry forever, and the partnership between Polygon and Immutable is a significant step in that direction.

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