{"id":310775,"date":"2023-03-20T21:42:50","date_gmt":"2023-03-20T21:42:50","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=310775"},"modified":"2023-03-20T21:42:50","modified_gmt":"2023-03-20T21:42:50","slug":"polygon-and-immutable-partner-on-web3-gaming","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/polygon-and-immutable-partner-on-web3-gaming\/","title":{"rendered":"Polygon and Immutable partner on Web3 gaming"},"content":{"rendered":"<p>Ethereum ecosystem projects Polygon and Immutable have partnered on Web3 gaming, according to a press release published on <a href=\"https:\/\/www.prnewswire.com\/news-releases\/immutable-and-polygon-labs-partner-to-create-the-new-home-for-web3-gaming-301776473.html\">March 20<\/a>.<\/p>\n<h2>Immutable and Polygon join forces<\/h2>\n<p>The joint announcement indicates that the two projects will form a strategic alliance to advance Web3 gaming in terms of development and adoption.<\/p>\n<p>The partnership will focus on Immutable zkEVM, which is based on zk-rollups and is supported by Polygon technology. This will allow developers to experience faster and cheaper transaction fees than they might see if they built directly on Ethereum.<\/p>\n<p>One type of Web3 gaming involves using blockchain so that users have full, transferable ownership of in-game items in the same way that they might own crypto or NFTs.<\/p>\n<p>Robbie Ferguson, President and Co-Founder of Immutable, specifically applied the concept to game skins that are used with characters and items. He wrote:<\/p>\n<blockquote><p>&#8220;Billions of dollars of skins are sold each year with no rights for players &#8211; we're changing that so players are in control, and ownership is the expectation.&#8221;<\/p><\/blockquote>\n<p>Polygon and Immutable lamented that Web3 gaming has been limited by a shortage of high-quality games and enterprise-grade developer tools. The two projects believe that their efforts will make it easier for large and small game developers to work with blockchain.<\/p>\n<h2>Projects raised nearly $2B combined in 2022<\/h2>\n<p>Immutable and Polygon noted that projects built on their own platforms received $2 billion in investor funding in 2022. <a href=\"https:\/\/cryptoslate.com\/immutable-x-games-collected-largest-web3-funding-of-2022-over-900m\/\">Recent reports from Delphi Digital<\/a> found that Immutable X games raised $900 million in 2022, while Polygon games raised $850 million.<\/p>\n<p>The two blockchain companies have also partnered with big names like Square Enix, Unity, and GameStop, and many other firms and projects as well.<\/p>\n<p>Despite each firm's apparent success, ImmutableX nevertheless <a href=\"https:\/\/cryptoslate.com\/immutable-reportedly-lays-off-11-of-staff-after-56m-loss\/\">laid off 11% of its staff<\/a> in February as its expenses surpassed its earnings. Polygon similarly <a href=\"https:\/\/cryptoslate.com\/polygon-sacks-20-of-staff-says-it-remains-financially-healthy\/\">laid off 20% of its staff, <\/a>amounting to 100 employees, earlier that month.<\/p>\n<p>Both companies have created cryptocurrencies that rank among the sixty largest circulating tokens. Polygon (MATIC) ranks at #9 with a market cap of $10.2 billion. ImmutableX (IMX) ranks at #51 with a market cap of $1.1 billion.<\/p>\n<p>Neither asset saw a significant change in price following the announcement.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum ecosystem projects Polygon and Immutable have partnered on Web3 gaming, according to a press release published on March 20. Immutable and Polygon join forces The joint announcement indicates that the two projects will form a strategic alliance to advance Web3 gaming in terms of development and adoption. The partnership will focus on Immutable zkEVM, [&hellip;]<\/p>\n","protected":false},"author":1403,"featured_media":201658,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[35,76844,5789],"tags":[],"prediction_market_topic":[],"post_folder":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.9 (Yoast SEO v21.9.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Polygon and Immutable partner on Web3 gaming<\/title>\n<meta name=\"description\" content=\"Ethereum ecosystem projects Polygon and Immutable have partnered on Web3 gaming, according to a press release published on March 20.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptoslate.com\/polygon-and-immutable-partner-on-web3-gaming\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Polygon and Immutable partner on Web3 gaming\" \/>\n<meta property=\"og:description\" content=\"Ethereum ecosystem projects Polygon and Immutable have partnered on Web3 gaming, according to a press release published on March 20.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cryptoslate.com\/polygon-and-immutable-partner-on-web3-gaming\/\" \/>\n<meta property=\"og:site_name\" content=\"CryptoSlate\" \/>\n<meta property=\"article:published_time\" content=\"2023-03-20T21:42:50+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2021\/10\/gaming.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"630\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Mike Dalton\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:site\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Mike Dalton\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/cryptoslate.com\/polygon-and-immutable-partner-on-web3-gaming\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/cryptoslate.com\/polygon-and-immutable-partner-on-web3-gaming\/\"},\"author\":{\"@type\":\"Person\",\"@id\":\"https:\/\/cryptoslate.com\/author\/mike-dalton\/#person\",\"name\":\"Mike Dalton\",\"url\":\"https:\/\/cryptoslate.com\/author\/mike-dalton\/\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/cryptoslate.com\/author\/mike-dalton\/\"},\"image\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/cryptoslate.com\/author\/mike-dalton\/#authorimage\",\"url\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/12\/mike-dalton-author-300x300.jpg\",\"contentUrl\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/12\/mike-dalton-author-300x300.jpg\",\"caption\":\"Mike Dalton\"},\"jobTitle\":\"Former Journalist\",\"description\":\"Before transitioning to crypto writing in 2018, Mike studied library and information sciences. 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