The strategic cooperation will concentrate on Polygon-powered Immutable zkEVM.
The Ethereum ecosystem projects Polygon and Immutable have collaborated on Web3 gaming, according to a March 20 press release.
The combined announcement suggests that the two initiatives would create a strategic relationship to boost the development and acceptance of Web3 gaming.
The alliance will concentrate on Immutable zkEVM, which is enabled by Polygon technology and is based on zk-rollups. This will provide developers with quicker and lower transaction costs than if they had developed natively on Ethereum.
One sort of Web3 gaming includes using blockchain so players have complete, transferable ownership of in-game assets, similar to how they could own cryptocurrencies or non-fungible tokens.
Polygon and Immutable noted that a lack of high-quality games and enterprise-grade development tools had hampered Web3 gaming. The two companies hope their efforts will make it simpler for significant and small game makers to use blockchain technology.
Immutable and Polygon said in 2022 that projects produced on their respective platforms obtained $2 billion in financing from investors.
In addition to Square Enix, Unity, and GameStop, the two blockchain startups have cooperated with several other companies and endeavors.
Despite each company’s apparent success, ImmutableX cut off 11% of its workforce in February because its spending exceeded its revenues. Similarly, Polygon laid off 20% of its workforce, or 100 individuals, earlier that month.
These firms have developed cryptocurrencies among the sixty most popular tokens in circulation. With a market worth of $10.2 billion, Polygon (MATIC) ranks ninth. ImmutableX (IMX) has a market capitalization of $1.1 billion, placing it at position #51. Neither asset had a large price shift in response to the news.
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