Ethereum scaling platform Polygon strengthens its hold in the gaming and NFT market by establishing two new studios. Polygon Gaming Studio aims to help developers create and market their decentralized games. Meanwhile, Polygon NFT Studio will assist brands and IP owners in launching their custom NFT models and Marketplaces.
Why build new Studios?
Polygon’s current statistics of over 100,000 gamers and over 500 decentralized apps confirm that its current infrastructure meets the market demands. With projects like Aavegotchi, Decentraland, Skyweaver and OpenSea under its belt, the platform is ripe for a growth strategy. Basically, Polygon Gaming Studio and NFT Studio bring Polygon a step closer to its vision of building an open and borderless world through blockchain technology.
The company said on Monday: “With the launch of Polygon Studios, the game gains 360-degree architectural support, big brands and beloved franchises can be launched on Polygon and gamers can enjoy a new game world to earn opportunities and Decentralized games.”
The newly established Polygon Studios has three core goals: establish Polygon as a leader in decentralized games; create a brand that attracts developers and investors into its NFT ecosystem; and finally, position Polygon as the best place to Transition to Web 3.0.
We’re currently at Web 2 consisting of social networks, cloud computing, and streaming. The race is on for games and projects to fully transition to Web 3.0. The segment is still in the infancy stage but we already see a glimpse of the future with projects like Axie Infinity which raked in over $30 Million in 7 days. With Web 3, transactions will be fully decentralized while AI would be mandatory.
Polygon Gaming and NFT Studio
Polygon builds upon the success of the network in attracting gaming projects. For example, Aavegotchi chose Polygon instead of Ethereum mainnet. As an expert in scaling, the blockchain can process far more transactions per second than Ethereum at a fraction of the cost.
Shreyansh Singh, Head of gaming and NFTs at Polygon, clarified a few things about the newly launched Polygon Gaming Studio. He said, “We don’t want to be a VC. We will incubate some products and teams that want to build projects. Maybe we can get them an external license and support them. We are here to support the entire ecosystem. We want to add value and bring the next 100 million users.”
On the other hand, we can expect customized digital collectibles and markets from Polygon NFT Studio. The utility of NFTs exploded because of art, sports and collectibles so Polygon is betting on the NFT Studio to replicate this successful trend. The new NFT studio will become an innovative hub helping celebrities, fashion houses, large commercial and consumer brands and artists maximize NFTs.
Polygon’s Long-Term Goal
Singh said, “Polygon’s goal is to scale Ethereum so that it can be a mass adoption platform, enabling NFTs to enter the mainstream.”
During the NFT boom, gas fees became a major pain point for users, adding up to $300 per Ethereum transaction. This is why Polygon’s low-fee environment as a carbon-neutral and sustainable platform attracted the horse racing platform Zed Run. Aside from lucrative projects, Polygon attracted investments from billionaire serial entrepreneur Mark Cuban.