In July 2021, the Polygon team announced the launch of Polygon Studios, a division of Polygon aspiring to become the home of NFT, gaming and metaverse. In just 6 months, here is what it achieved.
In the last article, we analyzed how blockchain gaming will take over the largest entertainment industry anyway — GAMING!
The gaming industry is already more than 2x larger than the world’s film industry + home entertainment + Golf + NBA + F1 + IPL + more combined.
Today, we are going to analyze how Polygon and it’s new division Polygon Studios have set itself up to dominate this space of blockchain gaming.
Let’s analyze.
P.S.: Read till the end. We have saved the best for the last.
Funding:
Backed by Polygon, already a leading project in the crypto space with a market cap of ~US$15 billion (at the time of writing). Polygon Studios is not a separate project but a division under Polygon and hence investors, builders get rewarded in Polygon (MATIC) tokens which are already widely accepted, loved, and liquid.
Polygon raises $450 million: In Feb 2022, Polygon raised US$450 million from the top 40 VC firms out there including Sequoia. This is crazy dry powder to drive any initiative the Polygon team puts their mind to. And they have backed Polygon Studios as of their top bets.
Polygon Studios commits $100 million: The team has put their money where their mouth is. They have committed US$100 million to back blockchain gaming and NFT projects building on Polygon through Polygon Studios. The bank is open, baby!
Deep Treasury: Money does not end here. Prior to the institutional funding, the Polygon treasury held 20–25% of all the Polygon tokens. At the current valuation, that is US$ 3–4 billion worth of idle capital sitting to be unlocked. They can deploy a significant portion to double down on Polygon Studios, if and when needed.
Talent: The best developer talent today is moving to Web 3.0. And guess which is the hottest party in town to join. Youtube’s head of gaming Ryan Wyatt joins Polygon Studios as CEO. When asked why did he join Polygon. And Ryan is just the first of the key hires. They are building out a crazy army worth watching out for.
Ecosystem: Talent and funding are external. There will be always someone who can attract better talent and get more funding. Forte Games and Animoca Brands are already better funded for blockchain gaming. Check out this list of blockchain gaming projects by funding. But the ecosystem is your internal force multiplier. Polygon’s biggest strength is its ecosystem. Every single major Web3 project is either on Polygon or is evaluating. Check out the below map:
Here is why ecosystem play wins:
Own Blockchain: No matter what you are building in Web 3.0, you will need a Blockchain to build on. Polygon is the most popular L2 chain on the most popular L1 chain Ethereum.
DApps to integrate: If you are a game builder, you need a bunch of DApps to make your game successful. A wallet to let users hold NFTs → Metamask on Polygon, a marketplace to trade NFTs → Opensea on Polygon, a metaverse to host on → Decentraland, Sandbox, and so on. The best projects in Web 3.0 that you would want to integrate with are on Polygon.
IndiGG — Guild Partnerships: Guilds are the biggest drivers of a game’s success. They bring in investment (for the in-game assets), gamers, marketing, and engagement. Yield Guild Games, one of the biggest guilds out there had 100,000 members and 18,000+ scholars (read strong gamers) with them. And they launched an India-focused sub-guild called IndiGG, backed by Polygon Studios. So if you are building a game and need a head-start to attract gamers, you get a headstart by plugging into Polygon — Polygon Studios — IndiGG ecosystem.
And this is just the beginning. Polygon Studios was launched less than a year ago. Their partnerships are growing every single day.
You can keep a tab on their growing partnerships by following the weekly briefing on Polygon Studios’ Youtube channel.
FOLLOW/ SUBSCRIBE to Girnaar Nodes to get an in-depth analysis of some of their key partnerships. Watch this space.
Girnaar Nodes:
If you are psyched by Polygon Studios and its potential, then you know the potential Polygon holds to revolutionize the space. If you hold the Polygon (MATIC) token, then you must stake it. Staking Polygon token on the blockchain gives you an extra return in MATIC terms, and you can withdraw anytime. All on blockchain and 100% secure.
Girnaar Nodes is an Indian-origin validator on Polygon with top performance and 0% commission. Stake your MATIC tokens with us directly on the Polygon blockchain. See your Polygon (MATIC) bags grow while we work on the tech under the hood.
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