Polygon Won’t Give Up on Web3 Games: Forms New Partnerships

Polygon Labs joins hands with Immutable and Merit Circle DAO to boost Web3 gaming adoption.

Very colourful gamer guy vearing VR glasses and headphones sitting in a smoke filled room.
Created by Gabor Kovacs from DailyCoin
  • Polygon is partnering with Merit Circle DAO and Immutable.
  • The partnership will combine Web3 gaming solutions to bolster individual offerings.
  • The partnership comes despite a recent alarming CoinGecko Web3 gaming report.

Gaming has long been touted as one of the many sectors blockchain technology is bound to revolutionize. Among the main arguments for this disruption is the technology’s capability to enable gamers to extract tangible value from their favorite pastimes through in-game asset trading.

This vision has yet to take off fully as the complexity of blockchain technology and scalability limitations continue to pose user experience hurdles. But blockchain-focused firms are not quitting just yet.

Sponsored

In the latest instance, three heavyweights in the Web3 gaming space, Polygon, Immutable, and Merit Circle DAO‘s Beam, have announced an alliance that promises to deliver a turning point in the Web3 gaming experience.

Polygon, Immutable, and Merit Circle DAO to Consolidate Efforts

On Thursday, December 7, Merit Circle DAO announced that it had partnered with Polygon Labs and Immutable to advance the growth of the Web3 gaming ecosystem.

As part of the partnership, Merit Circle DAO will be expanding parts of its Beam SDK, which makes the integration of games with blockchain technology easy, to the Immutable zkEVM protocol powered by Polygon CDK, starting with its Sphere marketplace for in-game asset trading.

At the same time, Beam would also bolster its suite of products with Immutable zkEVM’s Passport wallet, which allows users to self-custody blockchain assets without worrying about seed phrases through account abstraction and Immutable zkEVM’s order book, which shares NFT orders across leading marketplaces for greater visibility.

Sponsored

In sum, the partnership promises to make the development of Web3 games easier while boosting the user experience through consolidating solutions. Meanwhile, Merit Circle DAO, which boasts a $100 million treasury, also hinted at investing in games building on Immutable.

“We’re thrilled to see the Merit Circle DAO leverage Immutable zkEVM, powered by Polygon CDK. It is exciting to see all of us working towards one united goal — to make it easy for games to integrate blockchain technology,” Polygon Labs CEO Marc Boiron stated per the announcement.

The latest partnership comes despite a recent CoinGecko report that painted a dire picture of the Web3 gaming ecosystem.

A Dying Trend?

On November 29, CoinGecko released a study that found that out of 2,800 Web3 games launched in the past five years, 2100 failed—a whopping three out of every four projects.

While the alarming findings of this study raise questions about the future of the industry, it may not paint the full picture. 

The joint “State of Blockchain Gaming in Q3 2023” report from Blockchain Game Alliance and Dappradar showed that daily unique active wallets on blockchain games are rising. Specifically, the report suggests that the metric rose 12% in Q3 to average over 786,000 unique active wallets daily.

The conflicting reports suggest that while not all projects make it, the number of people playing blockchain games is rising.

On the Flipside

  • Beam existed exclusively on Avalanche before the recent partnership. 
  • Merit Circle DAO has noted that its goal is to expand to any blockchain with gamers.

Why This Matters

Amid the difficulties facing the adoption of Web3 gaming, consolidating efforts between Polygon, Merit Circle DAO, and Immutable is likely to catalyze innovation in the field.

Read this for more on Polygon:
Polygon Leads as Inscription Craze Takes Hold of EVM Chains

See how the crypto industry reacted to Jamie Dimon’s recent attack:
Jamie Dimon’s Anti-Crypto Tirade Sparks Derisive Backlash

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Author
Okoya David

David Okoya is a crypto news reporter at DailyCoin based in Nigeria. He covers various topics related to the cryptocurrency industry, including exchanges, regulations, and price movements, and strives to bring fresh angles to breaking news. With experience as a freelance crypto news writer, David upholds the highest journalistic standards, telling complete stories and answering lingering questions whenever possible.