Polygon, Ethereum’s layer-2 scaling solution, is swiftly emerging as a powerhouse in the gaming industry, thanks to a rise in user activity on its network.
Polygon had a 53% growth in daily unique active wallets (dUAWs) last month, reaching 138,081 in March, making it the second-largest blockchain gaming network in terms of UAWs, according to DappRadar.
Polygon’s expansion in the game business is important, given the company was originally recognized for its DeFi dApps. In March, the network surpassed Hive to take second place, a positive indication for Polygon as it develops and recognized as a gaming blockchain.
Polygon: Banking On Gaming And Blockchain
Polygon’s success can also be linked to Hunters On-Chain, a Web3 adaptation of BoomLand’s mobile game, Hunt Royale, which has had a UAW rise of over 17,000% in the last 30 days.
The game is a free-to-play RPG with NFT integrations that looks and feels like Minecraft. The game reached an all-time high UAW count of roughly 55,300 on March 9.
Although it’s unknown what fueled the rise in demand for Hunters On-Chain last month, the impending in-game NFT sale on March 31 may have played a role.
It should be noted that total on-chain gaming activity fell by 3.33% in March to 741,567 daily unique active wallets. However, games continue to account for 45.6% of DApp industry activity in Q1 2023.
Partnerships With Major Brands
Polygon’s entry into the game business can also be credited to its expanding relationships with well-known brands such as Warner Music, Starbucks, Adidas, Reddit, and Adobe to create and host NFT initiatives.
Polygon Labs, the network’s creators, has a long number of notable partnerships, demonstrating that its development into gaming and NFTs is gaining traction.
WAXP is still the largest gaming blockchain, with 314,976 daily unique active wallets in March, an 8.11% reduction from the previous month.
The blockchain’s rise in the gaming sector, on the other hand, places it as the second-largest gaming blockchain after Boomland’s Hunters On-Chain, which launched on its testnet last month.
In terms of on-chain decentralized app (DApp) activity, the action role-playing game has subsequently ascended to become one of the top five blockchain games.
MATIC total market cap at $10 billion on the weekend chart at TradingView.com
Polygon’s rise in the gaming business has been amazing, with Hunters On-Chain playing an important part in attracting a surge of players.
Its success is also attributed to the March 27 launch of its open-source Ethereum Virtual Machine (EVM) equivalent zero-knowledge rollup, which enables DApps to scale through transaction batching, unlocking higher performance while lowering gas fees to conduct network transactions.
-Featured image from Polygon
