The use of this site and the content contained therein is governed by the Terms of Use. When you use this site you acknowledge that you have read the Terms of Use and that you accept and will be bound by the terms hereof and such terms as may be modified from time to time.
All text, graphics, audio, design and other works on the site are the copyrighted works of nasscom unless otherwise indicated. All rights reserved.
Content on the site is for personal use only and may be downloaded provided the material is kept intact and there is no violation of the copyrights, trademarks, and other proprietary rights. Any alteration of the material or use of the material contained in the site for any other purpose is a violation of the copyright of nasscom and / or its affiliates or associates or of its third-party information providers. This material cannot be copied, reproduced, republished, uploaded, posted, transmitted or distributed in any way for non-personal use without obtaining the prior permission from nasscom.
The nasscom Members login is for the reference of only registered nasscom Member Companies.
nasscom reserves the right to modify the terms of use of any service without any liability. nasscom reserves the right to take all measures necessary to prevent access to any service or termination of service if the terms of use are not complied with or are contravened or there is any violation of copyright, trademark or other proprietary right.
From time to time nasscom may supplement these terms of use with additional terms pertaining to specific content (additional terms). Such additional terms are hereby incorporated by reference into these Terms of Use.
Disclaimer
The Company information provided on the nasscom web site is as per data collected by companies. nasscom is not liable on the authenticity of such data.
nasscom has exercised due diligence in checking the correctness and authenticity of the information contained in the site, but nasscom or any of its affiliates or associates or employees shall not be in any way responsible for any loss or damage that may arise to any person from any inadvertent error in the information contained in this site. The information from or through this site is provided "as is" and all warranties express or implied of any kind, regarding any matter pertaining to any service or channel, including without limitation the implied warranties of merchantability, fitness for a particular purpose, and non-infringement are disclaimed. nasscom and its affiliates and associates shall not be liable, at any time, for any failure of performance, error, omission, interruption, deletion, defect, delay in operation or transmission, computer virus, communications line failure, theft or destruction or unauthorised access to, alteration of, or use of information contained on the site. No representations, warranties or guarantees whatsoever are made as to the accuracy, adequacy, reliability, completeness, suitability or applicability of the information to a particular situation.
nasscom or its affiliates or associates or its employees do not provide any judgments or warranty in respect of the authenticity or correctness of the content of other services or sites to which links are provided. A link to another service or site is not an endorsement of any products or services on such site or the site.
The content provided is for information purposes alone and does not substitute for specific advice whether investment, legal, taxation or otherwise. nasscom disclaims all liability for damages caused by use of content on the site.
All responsibility and liability for any damages caused by downloading of any data is disclaimed.
nasscom reserves the right to modify, suspend / cancel, or discontinue any or all sections, or service at any time without notice.
For any grievances under the Information Technology Act 2000, please get in touch with Grievance Officer, Mr. Anirban Mandal at data-query@nasscom.in.
The gaming and esports industry’s authenticity has improved dramatically compared to the past. It is a fast-growing, vibrant sector and provides a multitude of opportunities. After creating endless innovations in the Web 2 sphere, gaming and esports companies are systematically revamping the existing games. One of the ways to modify the current ecosystem is to adopt blockchain.
Among many blockchain platforms, Polygon is one of the leading platforms for Ethereum scaling and infrastructure development. Further, the network is a strong player in crypto gaming and the NFT ecosystem. The migration from free-to-play to play-to-earn (P2E) is lucrative. P2E is the current wave in the gaming world. Gamers have the advantage of earning rewards and trading assets in the ecosystem. Subsequently, one can convert money into real-world income.
However, there are several challenges that both the gaming companies and the gamers are dealing with. With the adoption of blockchain, trust and transparency will enhance manifold. In the following article, we will understand a bit about Polygon, more about play-to-earn gaming, esports that are a part of Polygon, and its benefits.
An Introduction to Polygon
The India-based crypto & blockchain scaling platform, earlier known as Matic Network and now known as Polygon, is a Layer-2 scaling solution. In recent years, there has been mass adoption of the Polygon network, the reason being it is easy to use, provides Ethereum scaling, and infrastructure development. Polygon has a presence in a sizeable portion of the market.
Polygon will extend $100M to fund the NFT gaming projects. The company provides plug-and-play software development kits for developers. Has better technology, marketing, and overall community support. More than 60% of game companies strongly believe in Polygon and have chosen the blockchain network for expansion. Polygon is home to a vast range of gaming and esports platforms. An Ethereum developer can switch to Polygon RPC to get started.
The Trend of Play-to-Earn Gaming
P2E gaming is the future of the gaming world. Built on decentralized networks, powered by smart contracts. The tokenization of the in-game assets is done to improve trust among the players. The operations are more streamlined and are best for crowdfunding.
With more than 100,000 gamers on the blockchain and top Web3 games, Polygon is providing a high-quality gaming experience. The network is already working in Web2 with the game Draft Kings. Now, the main goal is to go for Web 3.0. The major gaming platforms associated with Polygon are Decentraland, Animoca, and Sandbox. Also, connected with Open Sea, Metamask, and Forte therefore a big part of NFT gaming as well.
Top 5 Games and E-sports Joined Polygon in Recent Years
Here are the top 5 games and esports that partnered with the Polygon network to expand the horizon of the gamer community and developers.
Magic Eden announces collaboration with Polygon to support the NFT gaming ecosystem in Nov 2022. The company aims to provide tools to creators, and a launchpad for the debut. Magic Eden wants to leverage cross-chain interoperability to reach a wider set of audience. The company will also promote more multi-chain NFT trading.
FootEarn has done a strategic partnership with Polygon. The first online 3D e-sports game has engaging gameplay. In addition, there isn’t any mandatory fee required to play the game. In April 2022, there has been a strategic partnership between both FootEarn and Polygon. The company wants to take the esports game project to a top-notch level.
House of Gaming, an endeavor to redefine esports, partnered with Polygon in March 2022. Hefty Games are the collaboration between House of Gaming and Polygon. Hefty Games was about to launch NFT. Therefore, to commemorate the announcement, it joined Indian Gaming League.
Turnt Gaming a disruptive model for NFT-based gaming joins forces with Polygon. In Dec 2021, the company announced the collaboration with Polygon Studios. The merge is to take engage-to-play gaming to a next level. Now, users will be able to earn by watching and predicting as well.
Community gaming, a leading esports gaming platform, joined hands with the network. On July 2021, Polygon announced an alliance with Community Gaming to initiate esports tournaments on the Polygon network. It allows you to create custom esports tournaments and earn easily. With Polygon, the gamers of Axie Infinity Squad received payment in 3 seconds. That’s the speed that Polygon offers. Thus, platforms partnering with Polygon receive many benefits.
Advantages of Polygon in Gaming
Polygon has compounded the benefits for the gaming and esports industries. Here are a few of the benefits that polygon offers to gaming and esports companies.
Speed: Polygon has fast confirmation times. The 65000 TPS, profits, and security are the same as those that Ethereum offers. The overall gaming experience refines.
Scalability: The scalability is immense as the polygon network is compatible with all the ERC-20, ERC-1155, and ERC-721 standards. The transactions on the network are verified which helps in preventing fraud.
Flexibility: There is an easy transfer between the wallets. Due to flexibility, the players can play games of their choice. Gaming and esports platforms will be able to bring more gamers.
Cost: The average cost is $0.002 per transaction. Due to fewer transaction costs, many gamers can become part of the network. Players can trade the profits and resources within the community.
Established Community: The Polygon has a total of 19k dapps to choose from and scale. A stronger community increases participation and engagement in the games.
Tools used By Polygon Network in Gaming Market
Polygon has a suite of tools for gaming developers and platforms. Every type has its own set of unique properties.
Polygon Edge
Polygon edge is known for customization it has a modular and extensible framework for building sidechains. The primary goal is to bootstrap a new network and provide compatibility with Ethereum smart contracts. Gaming and esports companies can opt for Polygon Edge to form a customized blockchain for specific games.
Polygon ID
Polygon ID is a private identity that is self-sovereign and decentralized. It is safe and secure, with no threat to privacy. The polygon ID is powered by Zero-knowledge (ZK) cryptography. Along with providing the ultimate user privacy, it is also scalable and has private on-chain verification for dapps and games.
Polygon Studios
Polygon Studios is home to the metaverse, NFT, and gaming projects on Polygon protocol. They provide best-in-class solutions for platforms looking forward to scaling on the blockchain.
The Polygon Studios are working to support developers to build Dapps. They are helping both Web2 and Web3 teams with a variety of services. Polygon studios is a dedicated unit bringing together Blockchain Gaming and the NFT industry. The aim is to bridge the gap between Web2 and Web3 gaming.
Some of the Potential Risks in P2E Gaming
P2E gaming is booming and has a wide range of perks associated with it. However, there are a few problems as well. Sometimes, bots start to play and mostly they play better than a real player. If the bots keep winning and earning money, the real players will miss out on profitability.
Some of the P2E games have a high cost to access, and thus the amount of money earned is less compared to the investment. Big investors many times hoard resources, and the game is more prone to scams. Other than solving a few of the key challenges, the overall focus should be to make games and esports rewarding for the participants.
Summing it all Up
Polygon network has many use cases, and it supports several industries. However, in the gaming sector, they are more recognized, progressive, and visionary. The blockchain network envisions bringing more and more gaming platforms into the decentralized networks.
Blockchain immersive games take the entertainment quotient to a new level. Gaming and e-sports will foresee substantial growth in the upcoming years. Polygon will cause an improvement in gaming and esports due to — scalable infrastructure, minimal gas fees, and faster transaction times. Larger than life gaming ecosystems will notice a bright shift in the future.
Want to know more about how blockchain has powered the gaming economy?
About The Author
Dr. Ravi Chamria is co-founder CEO of Zeeve Inc, an Enterprise Blockchain company. He has an experience of 18+ years in IT consulting spanning across Fintech, InsureTech, Supply Chain and eCommerce. He is an executive MBA from IIM, Lucknow and a prolific speaker on emerging technologies like Blockchain, IoT and AI/ML.
Passionate About: Blockchain, Supply Chain Management, Digital Lending, Digital Payments, AI/ML, IoT
That the contents of third-party articles/blogs published here on the website, and the interpretation of all information in the article/blogs such as data, maps, numbers, opinions etc. displayed in the article/blogs and views or the opinions expressed within the content are solely of the author's; and do not reflect the opinions and beliefs of NASSCOM or its affiliates in any manner. NASSCOM does not take any liability w.r.t. content in any manner and will not be liable in any manner whatsoever for any kind of liability arising out of any act, error or omission. The contents of third-party article/blogs published, are provided solely as convenience; and the presence of these articles/blogs should not, under any circumstances, be considered as an endorsement of the contents by NASSCOM in any manner; and if you chose to access these articles/blogs , you do so at your own risk.
Zeeve is an enterprise-grade Blockchain Infrastructure Automation Platform. Join the growing list of clients that trust us with their Blockchain initiatives
Industries are changing the nature of business by bringing blockchain technology into the frame. The tech stack has revolutionized every sector, from logistics to gaming and finance to healthcare. This was possible because of smart contract …
Blockchain has a pivotal application called NFT. Integrating NFTs with businesses has opened realms of innovation and massive revenue. It is a new way to commercialize your brand and transform digital work into a tradable digital asset. These …
Future of Metaverse
In many respects, the future of the metaverse will be like our present. As the notion of the metaverse expands to include Web3 technologies made possible by blockchain, certain real-world activities may even be replaced by them…
We have come a long way on the internet, something unimaginable in the early days. Currently, there are agreements and disagreements regarding Web3, but it has a lot to offer. Companies adopting Web3 and blockchain are gearing up for the future…
Blockchain technology is a progressive database mechanism that enables the transparent exchange of information within the commercial network. A blockchain database keeps data in blocks that are linked in a chain. The data is chronologically…
You’ll receive a wide range of responses if you ask blockchain-embracing companies & individuals what they find most intriguing and fascinating about DeFi. Some will respond, “Decentralized,” which is obvious. To break free from relying on…