![]() It has previous raised funds from billionaire serial entrepreneur, Mark Cuban. ![]() The studio follows in the footsteps of its parent company, Polygon (formerly Matic), which is a scaling solution for the Ethereum network. Partners include the gaming brand Atari, which launched a partnership with Polygon in February, harnessing the protocols’ speed, scalability, tooling, and community to bootstrap development of Atari’s entry into the Web 3.0 gaming and NFT space. “Our team has done a lot of research and everything is already addressed because our partners, including celebrities and big brands, care about the environmental side,” Singh said. ![]() In fact, multiple projects already leverage Polygon’s low-fee environment as a carbon-neutral, sustainable base of operations to scale their games and mint NFTs. Serving as a proof of concept, the newly minted NFT artist, Beeple, recently chose to build his latest NFT marketplace WeNew on Polygon. Polygon Studios will also serve as an innovation hub, helping a swathe of celebrities, fashion houses, large commercial and consumer brands, and artists launch their own custom NFT models and marketplaces. The studio will leverage Polygon’s $100 million treasury fund to provide investment, marketing, technology, and community support. Now, Polygon will extend plug-and-play software development kits (SDKs) for developers such as Ubisoft, Electronic Arts, Atari, and others, enabling them to integrate blockchain attributes into non-blockchain games. That means those games can use it to scale up their operations to handle lots of transactions. More than 60% of today’s NFT and blockchain-based web 3.0 games, including Decentraland, Sandbox, Somnium Space, and Decentral Games, have chosen Polygon’s Proof of Stake blockchain as the preferred scaling solution. While sitting on top of Ethereum, Polygon gets the advantage of being compatible with an extremely popular cryptocurrency as well as being able to rely upon the security of Ethereum, which is protected by a broad community of computing sources that can fulfill the blockchain verification tasks. “We handle the transaction on the Polygon chain itself.” “We have lowered those fees to zero,” Singh said. This was making NFTs prohibitively expensive to “mint,” said Singh. Just a few months ago, as NFTs were exploding, the gas fees were derailing the market, adding up to $300 per Ethereum transaction. Polygon’s goal is to scale Ethereum so that it can be a mass adoption platform, enabling NFTs to enter the mainstream, said Singh. We want to add value and bring the next 100 million users.” Polygon’s goal We are here to support the entire ecosystem. Maybe we can get them an external license and support them. “We will incubate some products and teams that want to build projects. This is not our strength,” said Shreyansh Singh, the head of gaming and NFTs at Polygon, in an interview with GamesBeat. ![]() Polygon, which started in 2019, is being used by more than 90 decentralized apps (DApps) and it has had more than seven million transactions and 200,000 users. NFTs are now selling at a rate of $62 million a week, though the initial hype around NFTs is dying down from a peak in May of $175 million a week, according to. Gaming has a couple of new unicorns, or startups valued at $1 billion, in Animoca Brands and Forte. And an NFT digital collage by the artist Beeple sold at Christie’s for $69.3 million. Built by Dapper Labs, NBA Top Shot has surpassed $700 million in sales, just seven months after going public. NBA Top Shot (a digital take on collectible basketball cards) is one example. NFTs have exploded in applications such as art, sports collectibles, and music. ![]()
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