Polygon Labs, a blockchain protocol, is teaming up with Immutable, a platform for Web3 game developers, to speed up the development of Web3 games.
A press release reads that Immutable will use Polygon’s zero-knowledge technology to power its platform products and make it easier for game developers and studios to join Web3. The alliance expectedly provides businesses with a way to get their products to market faster and allows them to access one of the biggest and most liquid ecosystems for end users.
Robbie Ferguson, president and co-founder of Immutable, says that by combining the leading Web3 gaming platform with Polygon’s best-in-class zkEVM technology, they are building an Ethereum-centered gaming ecosystem ready to take Web3 mainstream and give digital ownership to millions of people.
Immutable X (IMX), the company’s native token, fell approximately 15% to a 24-hour low of $1.29. Before the announcement of the Web3 gaming studio, the token was trading at $1.51.
With new tools and partnerships, Immutable and Ethereum have worked to grow the Web3 gaming industry. In June, Immutable launched a $500 million venture fund for Web3 games, and Polygon launched a Web3 gaming-focused business entity in July.
Immutable introduced an all-in-one passport system in January to simplify the sign-up and administration process for Web3 gamers, and the gaming engine Unity added support for Immutable X to its developer toolkit in February.
The Final Fantasy video game series developer Square Enix has partnered with Polygon to develop a non-fungible token (NFT) project. Polygon’s extensive list of partnerships includes Nike, Reddit, and Starbucks. In the meantime, Immutable has partnered with GameStop, DC Comics, and Marvel to develop over 140 new titles for the existing platform.