Polygon, creator of a platform for blockchain games, has invested in Decentral Games to promote play-to-earn.
Play-to-earn is a game model in which players can earn real money or other rewards for playing. Axie Infinity players have earned Non-Fungible Tokens (NFTs), or unique items that they can sell for real money. In places like the rural Philippines, people make a living playing Axie Infinity for three times the minimum wage.
And that’s just one of the games that have potential in the play-to-earn space, and that’s what Decentral Games is looking for. Polygon, meanwhile, has created a complete Ethereum scaling solution. This means that it has created its own technology layer that offloads Ethereum transactions, as this cryptocurrency platform is slow, expensive, and expensive in terms of its environmental impact.
Polygon, launched in 2017, has built a platform capable of managing transactions outside of the blockchain, the transparent and secure digital ledger that powers cryptocurrencies like Ethereum. would allow to make much faster, cheaper and more reliable transactions. Polygon’s scaling solutions have been widely adopted with over 500 decentralized applications (Dapps), over $500 million in transactions, and six million daily transactions.
Decentral Games has created a decentralized gaming organization (DAO), which is a user-driven company. Polygon invests an unspecified amount of money in Decentral Games and puts tokens on the line $DG. Staking is the process of investing in tokens and locking them up for a specified period of time. In this case, Polygon invests (buys) $DG and bets on $DG, Decentral Games’ native cryptocurrency, for a set period of time. Today, betting on $DG generates a 19% APY (Annual Percentage Yield) for $DG holders.
Decentral Games develops 3D metaverse games on blockchain for the consumer and professional markets. Games include NFT, play-to-earn, wager-based games and 3D virtual events around musical entertainment with an immersive experience.
Polygon is an established and preferred framework for many decentralized applications and fintech institutions leveraging the Ethereum ecosystem. The Polygon ecosystem has seen strong growth in recent months due to increased adoption. Its market capitalization has increased tenfold since February, until exceed 11,000 million dollars. It uses a Proof-of-Stake (PoS) blockchain to enable low-cost, carbon-neutral, sustainable and efficient transactions.
Decentral Games, built on an Ethereum blockchain, has been using Polygon as their “layer 2” solution since 2019. Their contributions have made it one of the largest sources of transactions on the Polygon network. As the third largest Polygon node with over $131 million in $MATIC transactions, Decentral Games, backed by the Digital Currency Group, generates an additional revenue stream for $DG token holders through node management . Decentral Games is managed by its CEO, Miles Anthony. In June, Decentral Games said it had raised $5 million in a previous round.
Shreyansh Singh runs Polygon’s gaming and NFT business. Polygon has more than 90 employees, while Decentral Games has 40, including those who work in their environment and developers.