Polygon rises in Web3 gaming with blockchain adoption and NFTs. Here are the key factors behind its success in the gaming sector.
Adoption of blockchain technologies and NFTs: the rise of Polygon in the gaming sector and the key factors behind its success in Web3. One of the key players rising high in the adoption of blockchain technology and NFTs is Polygon, a layer-2 scaling solution for Ethereum.
Polygon is swiftly emerging as a powerhouse in the gaming industry, thanks to a massive surge in user activity. It is now the second-best blockchain for video games after WAX. How did it cross Hive? Let's check out the stats.
According to the Blockchain Games Report published by DappRadar, Polygon saw a 53% growth in daily unique active wallets (dUAWs) in March 2023, reaching 138,081. This makes it the second-largest blockchain gaming network in terms of UAWs, behind Wax with 314,976 UAWs. Polygon's expansion in the game business is important as it is recognized for its decentralized finance (DeFi) dApps.
Hunters On-Chain, a Web3 version of BoomLand's mobile game, has helped Polygon do well. In the last 30 days, the UAW of Hunt Royale has gone up by more than 17,000%. The game is a free-to-play role-playing game that looks and feels like Minecraft and has NFT integrations. The game's UAW count reached a record high of about 55,300 on March 9. It's not clear what made people want to buy Hunters On-Chain more last month, but the upcoming in-game NFT sale on March 31 may have had something to do with it.
Polygon's Expansion in the Gaming Business
Polygon's move into the game business is also due to its growing partnerships with well-known companies. Warner Music, Starbucks, Adidas, Reddit, and Adobe are some of the brands that are making and hosting NFT projects. Polygon Labs, which made the network, has a long list of partnerships with well-known companies. It also shows that its move into gaming and non-fungible tokens is going well.
Polygon's rise in the rankings shows how it has grown in the gaming industry. In March, the network passed Hive and moved up to second place, which is good news for Polygon as it gains popularity. Since then, Hunters On-Chain has become one of the top five blockchain games.
Key Factors Behind Polygon's Success in Gaming
Several important things led to Polygon's rise in the gaming business. The network is good for both game developers and players because it has low gas costs and fast transaction speeds. Developers can build and release their games on Polygon with much lower transaction costs, and players can enjoy faster and cheaper transactions.
The upgrade to Solana's state compression will make it much cheaper to mint NFTs on the blockchain. Merkle Trees are a type of data structure that can be used to check large datasets quickly and safely. By using a data structure that works well with compression, compressed NFTs will be between 2,400 and 24,000 times cheaper than their uncompressed counterparts. This means that developers can now make as much as 50 SOL by selling 100 million NFTs.
Since Polygon works with Ethereum, game developers can take advantage of the wide range of tools and resources on Ethereum. This includes access to the Ethereum Virtual Machine (EVM) and the ability to easily connect to Ethereum-based DeFi protocols and NFT marketplaces.
Polygon is a good choice for game developers who want to make complex, cross-chain games because it is focused on scalability and interoperability. Because the network is open, it is easy to connect to other blockchains. This makes it possible to make games that use more than one blockchain.
Lastly, Polygon's success in the gaming business has been helped a lot by the way it works with the community. The network has a strong and active community of developers and enthusiasts who are building and adding to the ecosystem. This led to a lot of new and interesting games and NFT projects being made on the network.
The Way Forward for Polygon and Web3
Polygon's rise shows that the network has a good chance of becoming a leading blockchain platform. Hunters On-Chain is doing well because there are more people using the network. It has become popular with gamers because it works with NFT and looks and feels like Minecraft.
Even though WAX is still the biggest gaming blockchain, Polygon is now in second place after Hunters On-Chain, which launched on its testnet last month, thanks to its growth in the gaming industry.
Polygon's quick rise in the gaming industry is a good sign for the network. It shows that it can keep up with changing trends and become a leading platform for games and NFTs. With more partnerships and new features, it will be interesting to see how Polygon changes over the next few months and if it can keep growing at the same rate.
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