While the global craze surrounding crypto assets seems to have taken a break amid the bearish spell (to put it mildly), it wasn’t long ago these currencies were churning out unbelievable returns. In fact, Bitcoin doubled to over $58,000 by April 10 from its early January values, making it one of the most impressive bull runs. Of course, it was still no match for the “25 din me paisa double” Lakshmi Chit Fund, but not too bad either, right? But like Raju, Sham and Babu Bhaiyya, the fortunes of many investors turned sour as the selling started.
POLYGON LAUNCHES NFT GAMING STUDIO
The studio will focus on growing the global blockchain gaming and NFT industry.
The popular Ethereum scaling solution Polygon has announced the launch of a gaming and NFT studio called Polygon Studios. The initiative is aiming to strengthen the network’s fast-growing ecosystem. Polygon Eyes Gaming Space The market for crypto gaming is growing rapidly.
In a Monday press release, Polygon announced the launch of a new gaming and NFT studio to bring more development to the network. The launch will provide support and infrastructure for blockchain game builders with the aim of attracting artists and investors to the network’s NFT ecosystem.
As part of the announcement, the team stated that the new gaming studio would involve providing developers and teams with assistance in creating blockchain-enabled gaming experiences through access to infrastructure, SDKs, investment, marketing, technology, and community support.
The Polygon network has established itself as Ethereum’s current leading scaling solution due to its fast, inexpensive transactions. Currently, the network receives most of its traffic from DeFi applications, with many smaller-scale investors taking advantage of Polygon’s low transaction fees.
Additionally, Polygon has already attracted many blockchain game developers. In January, the NFT trading game Aavegotchi announced the project would no longer launch on Ethereum mainnet due to high gas fees. Instead, the game chose to launch on Polygon, showcasing the network’s potential to attract high-profile projects. Since then, other prominent blockchain games such as ZED RUN and SkyWeaver have also moved onto the network.
The high transaction fees on Ethereum mainnet have been an obstacle for many gaming projects. Axie Infinity, which recently hit 350,000 daily active users, switched to a custom-built sidechain earlier this year to reduce fees and make transaction confirmations faster. With low fees and fast transactions essential for a seamless gaming experience, Polygon is well-positioned to capitalize on the crypto gaming craze with its new studio.