Claim Giveaway Token Proof of Reserve

Positive Momentum for Polygon in NFT, Gaming, and Metaverse Spaces

Key Takeaways
  • Polygon, a blockchain known for its DeFi DApps, became the second-largest blockchain gaming network in March
  • Polygon's success in the gaming sector can be attributed to its partnerships with well-known companies such as Warner Music and Starbucks
  • Polygon has made strides in improving its scalability and transaction costs, successfully launching an open-source zero-knowledge roll-up in March
Positive Momentum fo

Polygon, a blockchain known for its DeFi DApps, surpassed Hive to become the second-largest blockchain gaming network in March, according to DappRadar, a decentralized application (DApp) analytics platform. 

In March, Polygon, a blockchain known for its DeFi DApps, surpassed Hive to become the second-largest blockchain gaming network in terms of the number of distinct active wallets (UAWs), according to DappRadar, a decentralized application (DApp) analytics platform. 

Polygon saw a significant increase in user engagement on layer 2 of Ethereum (L2), with 138,081 UAWs playing games on the platform, a 53% increase from February. This growth was largely attributed to the popularity of the game Hunters On-Chain, a Web3 version of BoomLand's mobile game Hunt Royale, which experienced a UAW rise of over 17,000% in the previous 30 days alone.

Despite a slight decrease of 3.33% in on-chain gaming activity in March, games still accounted for 45.6% of the DApp industry activity in Q1 2023, according to the research. Polygon's success in the gaming sector can be attributed to its partnerships with well-known companies such as Warner Music, Starbucks, Adidas, Reddit, and Adobe to create and host NFT initiatives.

In addition to gaming, Polygon also made strides in improving its scalability and transaction costs. The company successfully launched an open-source zero-knowledge roll-up, similar to the Ethereum Virtual Machine, on March 27. This is expected to enable DApps to scale through transaction batching, resulting in faster transactions and lower gas costs on the network.

The positive momentum around Polygon in the NFT, gaming, and Metaverse spaces has been evident over the past few months, with the platform's UAWs surpassing Hive and BNB Chain to become the second-largest blockchain gaming network. The success of Hunters On-Chain and Polygon's efforts to improve scalability and transaction costs are seen as encouraging signs for the platform's future growth and adoption in the blockchain gaming industry.

Also read - Is Gary Gensler the ‘Real Villain’ For Cryptocurrencies in America?

WHAT'S YOUR OPINION?
Related News
Related Blogs
`