Polygon (MATIC) Catches the Eye as Gaming Figures Reach New Peak

Polygon, an Ethereum layer-2 network, has attained a new peak in its blockchain gaming ecosystem. According to a chart from the blockchain analytics platform Dune, the number of active wallets soared to a height of 1.45 million this month.

An executive from Polygon Labs, the brains behind the layer-2 blockchain, shared insights into the reason for the sudden surge.

Polygon Gamers on the Rise

Current metrics from Dune show that the Polygon gaming ecosystem had 1,377,404 active gamers within the past month. It also shows a daily record of 311,726 active wallets.

Leon Stern, Polygon Lab’s Head of Marketing, explained that Polygon’s rapid increase in gaming platforms is the blockchain’s existing technologies “and the flexibility it gives builders to create their games.” Stern stated that game developers choose one among three Polygon technologies – Polygon PoS, Immutable zkEVM, and Polygon CDK.

He further explained what each tech does for gaming projects. The Polygon Proof of Stake (PoS), known for its energy efficiency and speed, onboards gamers scouting for Web3 audiences. Examples of projects that have embraced this tech include Matr1x, Planet Mojo, and Gas Hero.

The Immutable zero-knowledge Ethereum Virtual Machine (zkEVM), a game-centric blockchain, offers its marketplace and on-chain tools to game creators. Oftentimes, gaming platforms transitioning from Web2 to Web3 utilize this tech to ease the migration. Projects that have used the game-focused network include Gods Unchained and Blast Royale.

The Polygon Chain Development Kit (CDK) offers game developers the ability to create customized zk-chain with enhanced user experience. The Polygon Labs executive explained that game projects seeking to exit public chains have embraced the Polygon CDK. These platforms include Wilder World.

Will Price Follow?

Despite the meteoric performance recorded within the Polygon gaming ecosystem, the blockchain’s native cryptocurrency, MATIC, has yet to see a significant price uptrend. At the time of writing, MATIC traded at $0.66, representing a 4.9% drop in the past 24 hours. The asset is also over 9% down from its value a week ago.

Over the past months, MATIC’s market capitalization has also depreciated to $6.1 billion, bringing it from among the top 10 crypto projects to the #20 spot.