Polygon, Ethereum’s Layer 2 scaling solution, is quickly emerging as a force in the gaming industry, thanks to an increase in user activity on its network.
ribbed It saw 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 into the gaming space is significant, given that the company was originally recognized through DeFi dApps. In March, the network overtook Hive to take second place, which is a positive sign for Polygon as it develops and is recognized as a gaming blockchain.
Polygon: Banking on Games and Blockchain
Polygon’s success can also be linked to Hunters on the chain A Web3 adaptation of BoomLand’s mobile game Hunt Royale, which has seen UAW’s rise more than 17,000% in the past 30 days.
The game is a free-to-play RPG with NFT integrations that looks and feels like Minecraft. The game reached a UAW high of approximately 55,300 on March 9.
While it’s unknown what triggered the high demand for Hunters On-Chain last month, the game’s impending NFT sale on March 31st may have played a role.
Notably, total on-chain gaming activity decreased by 3.33% in March to 741,567 unique active wallets per day. However, games still accounted for 45.6% of the DApp industry activity in the first quarter of 2023.
Source: DappRadar
Partnerships with major brands
Polygon’s foray into the gaming business can also be attributed to its expanded 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 long number of high-profile partnerships, which shows that their development in games and NFTs is gaining momentum.
WAX remains the largest gaming blockchain, with 314,976 unique active wallets per day in March, down 8.11% from the previous month.
On the other hand, the rise of blockchain in the gaming sector makes it the second largest gaming blockchain after Boomland’s Hunters On-Chain, which launched on its test network last month.
In terms of on-chain decentralized application (DApp) activity, the role-playing game has subsequently climbed to become one of the top five blockchain games.
MATIC total market cap at $10 billion on the weekend chart at TradingView.com
The rise of Polygon in the gaming field has been amazing, Hunters On-Chain has played a significant role in attracting a large number of gamers.
Its success is also attributed to the launch of the open-source Ethereum Virtual Machine (EVM) cluster on March 27, which enables DApps to scale through transaction aggregation, unlocking higher performance while lowering gas fees for network transactions.
Featured image via Polygon