Polygon, the Ethereum-scaling project formerly known as Matic, has announced the launch of Polygon Studios. The new division aims “to serve as a bridge between Web2.0 & Web3.0 world.”
With the growing popularity in the blockchain ecosystem, Polygon has aimed to become the leading platform for NFT’s and Gaming by offering lower transaction fees, added scalability, and better performance in the Ethereum network.
1/ 🔥 Presenting Polygon Studios: @0xPolygon‘s brand new arm for Blockchain Gaming & NFT ecosystem. This will cement Polygon’s existing lead position as the de-facto platform for NFTs & Gaming!
We aim to serve as a bridge between Web2.0 & Web3.0 world.
— Polygon Studios (@_PolygonStudios) July 19, 2021
The increased congestion and gas prices experienced by Ethereum over the past year had a negative impact on blockchain gaming, which requires a high transaction volume of low-value fees. This forced blockchain game developers to move to other networks or alter their model altogether.
Polygon’s Layer-2 solution saw more than 100 thousand blockchain gamers move to the network as a result, which according to the team’s announcement also resulted in ”top Web3 games and metaverses building high-quality gaming experiences thanks to Polygon’s strong infrastructure.”
With the launch of Polygon Studios, which will be a division of Polygon, the network expects to become the go-to destination for top creators in the gaming and NFT ecosystems to venture into Web3 development efforts.
Polygon is Committing $100 Million to Gaming NFT Projects
Blockchain gaming and NFTs go hand to hand in most cases, with NFTs proving to be a reliable way to provide gamers with ownership over their assets and developers with a way to prevent the creation of black markets, while also diminishing security concerns.
For this reason, the new studio will make use of Polygon’s $100 million treasury to boost the growth efforts of…