Polygon enters into strategic partnership with GameOn to bring NFT games to clients
In October 2021, Polygon witnessed incomparable growth after it increased its gaming usage by 322% month-over-month [MoM]. Notably, as it strengthens its hold on the blockchain gaming world, the layer 2 solution has forged a strategic partnership with GameOn Entertainment Technologies Inc., a leading game technology provider.
Polygon recently set up Polygon Studios, to cater to game companies, and focus on gaming projects as a way to help developers fuse their web 2.0 games with the web 3.0 decentralized technology. The latter will benefit from GameOn’s ability to build NFT-based games on their Ethereum-based scaling platform. As per the press release,
“The deal will see Polygon Studios provide non-dilutive funding for 50% of GameOn’s ongoing product development costs.”
Furthermore, Polygon has found a way around Ethereum’s high gas fees woes by adding a layer, enabling it to remove the gas fees associated with the computing costs of blockchain transactions, from the NFT purchases that users make. It also committed $100 million to projects leading the transition to Web 3.0. As per the release, Polygon has invested in DraftKings, DeFine, and now GameOn.
The partnership will allow GameOn to create, mint, and sell NFTs to the game layer it already deploys for white label customers such as prediction and fantasy games. As per Matt Bailey, the CEO of GameOn,
“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.”
Video games based on the NFT blockchain have been gaining momentum and have paved way to earning money among gamers and citizens of countries like Venezuela, Vietnam, and the Philippines. This, in order to combat unemployment or the lack of economic development. As Polygon marches along with the rising trends in the field, it may be able to tap into these economies through its NFT-based games.