Gamepost.io
  • News
  • Developers
  • NFT
  • Metaverse
  • DeFi
  • Education
  • Glossary
  • Press Release
Reading: Polygon and Immutable join forces to make Web3 gaming
Share
Aa
Gamepost.io
Search
  • News
  • NFT
  • Metaverse
  • DeFi
  • Education
  • Events
  • Bookmarks
  • Contact
  • Contributors
Follow US
© Gamepost.io
News

Polygon and Immutable join forces to make Web3 gaming

Gamepost
Gamepost Published March 21, 2023
Share
3 Min Read
SHARE

According to a March 20 news release, Ethereum ecosystem projects Polygon and Immutable have collaborated on Web3 gaming.

Immutable and Polygon band together

According to the joint announcement, the two projects will form a strategic collaboration to accelerate Web3 gaming development and adoption.

The collaboration will center on Immutable zkEVM, which is built on zk-rollups and powered by Polygon technology. This will allow developers to enjoy faster and lower transaction costs than if they built natively on Ethereum.

One sort of Web3 gaming is using blockchain to provide users with complete, transferable ownership of in-game assets, similar to how they might own crypto or NFTs.

Robbie Ferguson, President and Co-Founder of Immutable, applied the concept specifically to gaming skins used with characters and stuff. He stated:

“Billions of dollars in skins are sold each year with no rights for gamers; we’re changing that so players have power and ownership is expected.”

Web3 gaming, according to Polygon and Immutable, has been hampered by a lack of high-quality games and enterprise-grade developer tools. The two projects think that their efforts will make working with blockchain easier for both major and small game producers.

In 2022, projects raised over $2 billion in total

Immutable and Polygon reported that in 2022, projects produced on their platforms got $2 billion in investor backing. According to recent Delphi Digital estimates, Immutable X games raised $900 million in 2022, while Polygon games raised $850 million.

The two blockchain organizations have also collaborated with well-known companies such as Square Enix, Unity, and GameStop, as well as several other businesses and initiatives.

Despite each company’s apparent success, ImmutableX fired off 11% of its employees in February as its spending exceeded its earnings. Polygon had also let off 20% of its workforce, totaling 100 individuals, earlier that month.

These firms have generated cryptocurrencies that are among the top sixty most widely used tokens. Polygon (MATIC) is ranked ninth, with a market capitalization of $10.2 billion. ImmutableX (IMX) is ranked #51 with a market capitalization of $1.1 billion.

Following the announcement, neither asset had a major price shift.

Related

You Might Also Like

FLOKI and New to The Street Announce Media Partnership to Reach 219M+ Households

LINEUP Games Unveils Multi-Platform, Multi-Chain Gaming Ecosystem

Sweet Introduces ‘Sky Slam’ Basketball-Themed Mini-Game Ahead of $SCOR Token Launch

Endix Indie Showcase Returns This May with Biggest Lineup Yet, Featuring AMD and Global Developers

Deadzone: Rogue Rockets to Steam’s Top 10 Global Sellers with 100K+ Players in Week 1 — Is this 2025’s Must-Play Roguelite FPS?

TAGGED: immutable, partnership, Polygon, web3 games, web3 gaming
Share this Article
Facebook Twitter Email Print

New Releases

Trending Stories

News

SPACE ID 3.0 Unveils ID Token Staking and Game-Changing Upgrades for Its Permissionless Name Service Protocol

November 6, 2023
News

Solana-based Card Strategy Racing Game MixMob Racer1 Launches with Race-to-Earn Mechanics

January 4, 2024
News

Binance NFT Introduces The Sandbox NFT Staking Program to Engage the Sandbox (SAND) Community

April 29, 2023
Press Release

Ethereum Blockchain Game Pikamoon Raises $3.6m, Final ICO Phase Selling Out Fast

July 12, 2023
Events

Programming, Speakers and More at Play Beyond: Sui Gaming Summit

February 7, 2024
News

$DED Game Sparks Flames in Polkadot Ecosystem

March 5, 2024

Always Stay Up to Date

Subscribe to our newsletter to get our newest articles instantly!

Follow US on Social Media

Facebook Twitter Instagram Linkedin
Gamepost.io

More from Gamepost.io

  • Contact
  • Privacy Policy
  • Advertising
  • Subscribe
  • Submit a press release
adbanner
AdBlock Detected
Our site is an advertising supported site. Please whitelist to support our site.
Okay, I'll Whitelist
Welcome Back!

Sign in to your account

Lost your password?