Crypto Updates

Polygon Teams Up With Ethereum-Based Crypto Project To Create Blockchain Dedicated to Gaming

Most Dogecoin Holders Are in Profit While Majority of Shiba Inu Owners Remain Underwater: IntoTheBlock

Blockchain scaling solution Polygon (MATIC) is teaming up with the Ethereum (ETH)-based gaming project Immutable (IMX) to build a blockchain focused on gaming.

The project, titled Immutable zkEVM, is a zero-knowledge (ZK) roll-up that is “slated for launch in the coming months,” according to a new Polygon press release.

Says Robbie Ferguson, Immutable president and co-founder,

“By combining the #1 web3 gaming platform – currently serving hundreds of game studios and millions of players – with Polygon’s best-in-class zkEVM technology, we are building an Ethereum-centric gaming ecosystem that is poised to take Web3 mainstream and bring digital ownership to millions of people around the world.”

The blockchain gaming industry represented 49% of all daily blockchain activity last year, according to a report from DappRadar. The data acquisition and analysis firm also notes that the blockchain gaming transaction count increased by 94.17% in 2022 compared to the previous year.

Immutable’s native token, IMX, will be used as the gas currency for Immutable zkEVM. The 52nd-ranked crypto asset by market cap is down more than 2% in the past 24 hours. IMX is trading at $1.25 at time of writing.

Polygon’s native token, MATIC, is trading at $1.15 at time of writing. The 10th-ranked crypto asset by market cap is up nearly 2% in the past 24 hours.

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