Just-In: Polygon Launches zkEVM-powered Web3 Gaming Network; MATIC Price Surge Ahead?
Polygon and Immutable, two major players in the Ethereum scaling space, have announced their intention to collaborate on the development of a new network that will be tailored to the needs of Web3 gaming and will be powered by Polygon’s upcoming zkEVM technology. Although an official date hasn’t been announced, it is anticipated to release soon in the coming few months.
Polygon Launches zkEVM Powered Web3 Gaming
On Monday, Polygon Labs and Immutable announced their intention to strategically collaborate on the development of Immutable zkEVM, a new Ethereum scaling network. The goal of the alliance will be to facilitate the development of web3-enabled games in a manner that is quicker, simpler, and comports with a lower level of risk on the part of larger gaming studios and independent developers.
Read More: Why Are Crypto Stocks Like Coinbase, Microstrategy & Others Up Today?
Beginning today, game developers will be able to get their hands on early documentation for ImmutablezkEVM so that they get a heads-up for early integration with the platform. The team at Polygon labs was quoted as saying:
The partnership simplifies the decision-making process for developers, providing the fastest route from concept to launch, and opening up the largest and most liquid ecosystem for end users.
The future of Web3 gaming🔮
Polygon Labs and @Immutable, the leading Web3 gaming platform, join forces to introduce Immutable zkEVM, powered by Polygon.
👉🏾a dedicated gaming solution using ZK technology to ACCELERATE Web3 game development 👏🏽
More: https://t.co/g2cbmhzyHL pic.twitter.com/F2yF2Rk23f
— Polygon Labs (@0xPolygon) March 20, 2023
Ubisoft, Atari, Animoca, Decentraland, Somnium Space, and The Sandbox are just a few of the major blockchain game projects and companies that have already begun building on the Polygon network. The Polygon ecosystem currently has more than 220 million individual user addresses.
Polygon’s Upcoming zkEVM Mainnet Launch
The announcement comes barely one week before the mainnet beta launch of Polygon zkEVM. The zkEVM technology, also referred to as the “Holy Grail of Ethereum scaling,” is analogous to an EVM that dramatically boosts transaction speeds while simultaneously lowering prohibitive costs. The scalability potential will reportedly open up a wide variety of new use cases that were impossible to implement in the past, including the potential for online multiplayer gaming.
In light of this recent news, Polygon’s native token, MATIC, witnessed a significant jump in price. As things currently stand, MATIC’s price is exchanging hands at $1.13 which represents a gain of 0.90% in the past one hour as opposed to a drop of 6.18% recorded over the course of past 24 hours.
Also Read: Hedera’s Patented Token Recovery System To Go Live Soon; What It Means For HBAR Price?
- Bitget Joins UNICEF Game Jam To Train 300,000 Youths In Blockchain
- Crypto Market Rally: BTC, BNB, SOL, XRP, ETH Surge Amid Q4 Momentum
- Bitcoin ETFs Record $2.2B Weekly Inflows as BTC Price Surges Past $120K
- Nomura Eyes to Ripple Dominance in Crypto Trading in Japan as Demand Rises
- Sharps Technology Plans $100M Buyback to Boost Solana Treasury as SSK ETF Hits Record $382M AUM
- Will XRP Price Hit $5 if the SEC Approves ETFs This Month?
- Bitcoin Price Hits $120K, Is Citigroup’s Bold Q4 Prediction in Motion?
- Pi Network Price at Risk of Another Crash as Mysterious Whale Stops Buying
- Solana Price Eyes $360 After Bullish Retest As VisionSys AI Deploys $2B Treasury Strategy
- Cardano Price Forecast As Hashdex Listing Fuels Optimism For $1.27 Breakout
- BONK Price Rally Ahead? Open Interest Jumps as TD Buy Signal Flashes
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
