How polygon emerged as the second largest gaming blockchain in March
Polygon, Ethereum’s layer-2 scaling solution, is quickly emerging as a powerhouse in the gaming industry, thanks to an increase in user activity on the network.
Polygon saw a 53% growth in daily unique active wallets (dUAWs) last month, reaching 138,081 in March, making it the second largest blockchain gaming network in terms of UAWs, according to DappRadar.
Polygon’s expansion into the gaming industry is significant, given that the company was originally recognized for its DeFi dApps. In March, the network passed Hive to take second place, a positive indication for Polygon as it develops and is recognized as a gaming blockchain.
Polygon: Banking on games and blockchain
Polygon’s success can also be attributed to Hunters On-Chain, a Web3 adaptation of BoomLand’s mobile game, Hunt Royale, which has seen UAW growth of over 17,000% in the last 30 days.
The game is a free-to-play RPG with NFT integrations that looks and feels like Minecraft. The game reached an all-time high UAW figure of approximately 55,300 on March 9.
While it is unknown what led to the surge in demand for Hunters On-Chain last month, the impending NFT sale on March 31st may have played a role.
It should be noted that total gaming activity on the chain fell by 3.33% in March to 741,567 daily unique active wallets. However, games continue to account for 45.6% of DApp industry activity in Q1 2023.
Source: DappRadar
Partnerships with major brands
Polygon’s entry into the gaming industry can also be credited to its expanding relationships with well-known brands such as Warner Music, Starbucks, Adidas, Reddit and Adobe to create and host NFT initiatives.
Polygon Labs, the network’s creators, have a long list of notable partnerships, which shows that the development of games and NFTs is gaining ground.
WAX remains the largest gaming blockchain, with 314,976 daily unique active wallets in March, a decrease of 8.11% from the previous month.
The blockchain’s progress in the gaming sector, however, places it as the second largest gaming blockchain after Boomland’s Hunters On-Chain, which launched on its testnet last month.
In terms of on-chain decentralized app (DApp) activity, the action role-playing game has subsequently risen to become one of the top five blockchain games.
MATIC total market cap at $10 billion on the weekend chart at TradingView.com
Polygon’s progress in the gaming industry has been amazing, with Hunters On-Chain playing an important role in attracting a wave of players.
Its success is also attributed to the March 27 launch of its open-source Ethereum Virtual Machine (EVM) equivalent to zero-knowledge hashes, which enables DApps to scale through transaction batching, unlocking higher performance while reducing gas fees for performing network transactions.
– Featured image from Polygon
