Polygon, the Layer 2 scaling solution for Ethereum, has announced a partnership with GameOn Entertainment to build new and different types of NFT games on the network as it seeks to expand into the blockchain gaming and NFT space in a major way.
The NFT and blockchain gaming space are the 2 hottest industries at this time with developers, users as well as investors looking to invest their time and money to develop new games, features, and upgrades as well.
NFTs and Blockchain Gaming
These 2 industries are very tightly mingled with each other as the blockchain games could tap onto the NFT industry for many of the tools that the gamers would be use within them. A multitude of these approaches is what constitutes the metaverse and this is what everyone, including Facebook, in the blockchain and crypto industry seems to be focussed on right now.
Polygon has gone one step ahead and has created a $100 million fund for those projects that are into blockchain gaming and GameOn has been one of the beneficiaries of the fund. The main business for GameOn would be to provide other entertainment companies with white label prediction games, fantasy games as well as NFT-based games which they could then push onto their userbase which will create a win-win situation for all. The fact that this is built on the Polygon network ensures that the fees are kept to a minimum.
Leveraging Polygon
Matt Bailey, GameOn’s CEO, said, “Leveraging Polygon’s technology, GameOn continues to lean into blockchain and NFTs, bringing innovative gamification to the rapidly growing Web3 and metaverse economies. Through resource-driving partnerships and M&A, we’ll continue to double down on being the one-stop-shop for gamification, including NFT-based games.”
Gaming seems to be the next frontier for the blockchain industry and with Facebook also throwing its weight behind the metaverse, the competition is likely to be much more difficult in the coming months as more startups look to enter this space and build out their games and use NFTs to take maximum leverage of the power of the blockchain. Networks like Polygon have realized that and are hence looking to support such businesses as much as possible to remain on top of the changes that are happening in the industry.