Is 2023 going to be Polygon’s year for GameFi?


For the second time in 2022, Polygon, the Ethereum layer-2 scaling solution, has exceeded Binance’s BNB Chain in daily transactions. As a result of the market downturn, Polygon games users have increased by 1.4% since May.

What makes Polygon an attractive choice for GameFi projects?

With its EVM compatibility and low fees, Polygon has become a popular sidechain to Ethereum and its DeFi dapps. Moreover, Ethereum’s security and fast and cheap transactions, the solution has been uniquely positioned to foster a GameFi ecosystem.

Back in July 2021, Polygon announced the creation of Polygon Studios, their gaming ecosystem. As part of the new initiative, Polygon intends to “cement its position as the de facto platform for NFTs and gaming.”

A few days later, reports revealed a steep increase in unique users for Polygon games. DappRadar data indicates that some Polygon games experienced increases upwards of 1000%, with several of these games becoming very successful very quickly.

Many popular blockchain games have chosen Polygon to grow their gaming communities, including Arc8, Aavegotchi, Sunflower Land, and Pegaxy. The top three GameFi projects on Polygon are Planet IX, Benji Bananas, and Arc8 by GAMEE.

In addition, Polygon’s gaming audience continues to grow despite the recent downturn in the market. According to a Delphi Digital report, the number of Polygon’s unique users within the gaming sector increased by 1.4% from May to June. Similarly, Polygon’s unique users trended higher, increasing 72% in October to 5.9 million.

However, the percentage of gamers on the Polygon network dropped by 16% to 23% in November. Since late May, the number of gaming transactions within the Polygon network has fallen by 40%, from 429k to 255k.

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