The gaming addresses for Polygon (MATIC), an Ethereum scaling solution, have increased by an astounding 1,615%. This notable rise demonstrates the growing enthusiasm and anticipation for Polygon’s contribution to the game industry.
In Q1, 2024, Polygon gaming activity rose, according to a recently released “State of Polygon Q1 2024” study by on-chain analytics firm Messari. Daily gaming addresses grew by 1,615% quarterly to 207,000, while daily gaming transactions increased by 469% to 734,000 in the same time period. The MATR1X FIRE game was the primary source of the increase in activity.
The $100 million Inevitable Games Fund, which focuses on the Web3 gaming environment, was formed by Immutable in collaboration with King River Capital and Polygon Labs, which further strengthened Polygon’s gaming ecosystem. Furthermore, Square Enix and Animoca Brands worked together to make Symbiogenesis, an NFT game, available worldwide.
Additional crucial indicators accentuate Polygon POS’s expansion: With USDT dominating the stablecoin market cap at $792 million, Polygon’s stablecoin market value surged to $1.5 billion, a 19% gain from the previous quarter.
DeFi’s daily active addresses, excluding gaming, rose to 50,000, a 67% rise over the previous quarter. Though significantly less than in gaming and DeFi, NFTs and Social also experienced an increase in activity.
The blockchain is presently seeing some significant evolutions, which is encouraging for Polygon. Ethereum-secured AggLayer is a network of aggregated blockchains being developed by Polygon Labs, a zero-knowledge (ZK) oriented software startup. Using Ethereum as a settlement layer, the AggLayer will act as public infrastructure, uniting user bases and liquidity for any chain that is linked.
POL will take the role of MATIC in the Polygon 2.0 update. By employing a native restaking protocol, POL will enable holders to support network security across several protocols inside the Polygon ecosystem and get rewards for a range of services. Simple transaction validations to more intricate tasks like developing ZK-validity proofs are all included in this spectrum of services.
The native cryptocurrency asset of the Polygon blockchain, MATIC, was trading at $0.696 at the time of writing.
