Polygon, Ethereum’s Layer 2 scaling solution, is quickly emerging as a powerhouse in the gaming industry, thanks to an increase in user activity on its network.
Polygon had a 53% growth in daily unique active wallets (dUAW) 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 into the gaming business is important, given that 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 becomes recognized as a gaming blockchain.
Polygon: betting on gaming and blockchain
Polygon’s success can also be linked to chain hunters, a Web3 adaptation of BoomLand’s mobile game Hunt Royale, which has seen a UAW increase 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 approximately 55,300 on March 9.
While it is unknown what drove the surge in demand for Hunters On-Chain last month, the impending sale of in-game NFTs on March 31 may have played a role.
It should be noted that total on-chain gaming activity fell 3.33% in March to 741,567 unique daily active wallets. However, gaming continues to account for 45.6% of DApp industry activity in Q1 2023.
Source: DappRadar
Partnerships with major brands
Polygon’s entry into the gaming business can also be attributed to its growing relationships with well-known brands such as Warner Music, Starbucks, Adidas, Reddit, and Adobe to create and host NFT initiatives.
Polygon Labs, the creators of the network, have a host of notable partnerships, showing that their development in games and NFTs is gaining ground.
WAX remains the largest gaming blockchain, with 314,976 unique daily active wallets in March, down 8.11% from the previous month.
The rise of blockchain in the gaming sector, on the other hand, ranks 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 application (DApp) activity, the action RPG subsequently rose 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 a major role in attracting a surge of gamers.
Its success is also attributed to the March 27 release of its open-source Ethereum Virtual Machine (EVM)-equivalent zero-knowledge rollup, which enables DApps to scale through transaction batching, unlocking higher performance and reducing gas fees to carry out transactions on the network.
-Polygon featured image