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Polygon invests in Decentral Games to take Play-to-Earn gaming mainstream
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Polygon (MATIC), a leading full-stack Ethereum scaling solution, and Decentral Games (DG), the world’s first metaverse gaming DAO where players can make money by participating in play-to-earn style gameplay, have formed a strategic partnership to take play-to-earn games mainstream.
Along with the announcement of their partnership, Polygon has initiated a strategic investment in Decentral Games by way of staking the gaming DAO’s native $DG governance token. The token, launched in late 2020, has seen rapid appreciation due to the platform’s expanding cash flows from its growing number of metaverse gaming venues and the appreciation of its treasury assets.
The $DG token has increased by a multiple of 13 times its initial value. This is on top of an attractive yield, which as Venture Beat notes is currently 19% APY for $DG investors who choose to stake their tokens. Moreover, the Decentral Games treasury has ballooned to over $12M in total value at the present time of writing.
Decentral Games, built on an Ethereum blockchain, has built Layer 2 on Polygon since 2019. Its contributions have become one of the most significant sources of transactions on the Polygon network. As the third-largest node on Polygon with over $131 million of $MATIC transactions, Decentral Games generates an additional source of revenue for $DG token holders through running their validator node. This stream has grown to represent a cumulative impact of $1.9M in additional income, which is held in the Decentral Games treasury.
Following a series of successful game launches including NFT games, roulette, poker, blackjack, and more, Decentral Games is set to take the emerging play-to-earn narrative mainstream. Decentral Games is incentivizing its growing base of loyal consumers to engage with the platform daily for the chance to develop a new source of income simply by playing their games.
To meet the demand for innovative, play-to-earn style gameplay, Decentral Games recently announced its deflationary ICE token product. The product allows players to earn rewards by way of completing daily poker challenges which in turn allows them to increase the value of their NFT’s and increase their daily token bonuses.
NFT’s are upgraded by way of burning ICE, creating a steady upward pressure on the asset that will incentivize early adopters and frequent players alike. The development of ICE Poker will continue to increase transaction volumes and consequentially, increase revenue to the DG DAO, thus benefiting $DG token holders as adoption escalates.
To illustrate the upside potential of this development for $DG holders, investors can look to Axie Infinity ($AXS) as one point of comparison. Since implementing their play-to-earn mechanism, $AXS holders have reaped the benefits of treasury growth which currently stands at an aggregate valuation of $19M. Today, investors are valuing the totality of the Axie project at a $4.1B market cap.
Decentral Games by comparison has amassed a $12M treasury in less than 9 months since inception and is well on its way towards reaching similar cash flows to that of Axie. However, the market seems to be underpricing the growth potential given $DG’s modest market cap of $75M.
The comparison to Axie is generating optimism among $DG investors who believe Decentral Games will continue to execute successfully upon their ambitious play-to-earn driven strategy and become a leader in the next generation of gaming and metaverse technology.
As more users join Decentral Games’ immersive metaverse experience the scalability solution Polygon brings to the table will help with eliminating outages. Moreover, it will minimize the impact of long maintenance periods without diminishing Decentral Games’ current high-quality user experience. Polygon’s success over time will additionally lead to Decentral Games users enjoying faster in-game transactions at lower overall costs.
? 1/ We're pleased to announce that @0xPolygon and @DecentralGames have formed a strategic partnership to advance Play-to-Earn economy in the metaverse!?
?? https://t.co/lux33q1VWL pic.twitter.com/pOzd11qtNr
— Decentral Games (@DecentralGames) September 8, 2021
“Polygon is establishing a clear path to mainstream adoption for crypto gaming and NFTs, while quickly becoming the 4th largest DeFi protocol in liquidity boasting over $6 billion in assets,” Decentral Games Founder, Miles Anthony commented. “I am confident this strategic partnership with Polygon Studios will bring significant value to the DG community and adequately prepare us for our upcoming Play-to-Earn ICE Poker launch.”
“Polygon is thrilled with the developments made by Decentral Games thus far, and we look forward to partnering with them as they continue to innovate and diversify what they can offer as a blockchain entertainment platform and Metaverse,” said Shreyansh Singh, Head of Gaming and NFTs at Polygon.
About Decentral Games (DG)
Decentral Games (DG) is a next-generation entertainment and play-to-earn GameFi DAO at the intersection of the metaverse and NFT. The company is backed by key investor Digital Currency Group (DCG), whose principal subsidiary Grayscale is the world’s biggest bitcoin and cryptocurrency fund manager and manages $40 billion in assets. Decentral Games is a leading metaverse project and the world’s first to provide metaverse employment opportunities.
Decentral Games develops 3D metaverse games on blockchain for both consumer and business markets. The games include NFTs, play-to-earn models, wager-based games, and 3D virtual events games revolving around music entertainment with an immersive experience.
Website | Twitter | Discord | Telegram | Youtube | Instagram |
About Polygon
Polygon is the first well-structured, easy-to-use platform for Ethereum scaling and infrastructure development. Its core component is Polygon SDK, a modular, flexible framework that supports building and connecting Secured Chains like Optimistic Rollups, zkRollups, Validium, etc., and Standalone Chains like Polygon POS, designed for flexibility and independence.
Polygon’s scaling solutions have seen widespread adoption with 500+ Dapps, ~567M+ txns, and ~6M+ daily txns.
If you’re an Ethereum Developer, you’re already a Polygon developer! Leverage Polygon’s fast and secure txns for your Dapp. Get started here.
Website | Twitter | Ecosystem Twitter | Studios Twitter | Reddit | Discord | Telegram | Instagram
Disclaimer: This is a paid post and should not be treated as news/advice.
