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How DeFi boom could change the gaming industry with CoinQuora


How DeFi Boom could change the gaming industry

  • Polygon has partnered with blockchain game platform Firstblood®.
  • The partnership can help drive cryptocurrency adoption through games.
  • Polygon has invested cash and NFT for game rewards on Firstblood®.

Polygon has invested in blockchain game platform Firstblood® in a move that could take DeFi to new heights. In fact, Polygon invested $ 10,000 and some NFTs for rewards for competitive games played on Firstblood®.

Decentralized finance (DeFi) is an industry that has grown rapidly in recent times. As a result, a new range of DeFi-based projects has emerged and many current DeFi projects have reached their all-time highs. However, the implications of the DeFi boom don’t end here. Many industries can benefit from the DeFi boom, and one such industry is the blockchain game.

With over 2 million active gamers, gaming is one of the most popular industries today. While the traditional game has its own rewards and methods of compensation, blockchain-based games go one step further. Blockchains make it possible for players to earn real, tangible benefits in the form of DeFi and NFT-based tokens (non-fungible tokens).

Now, to take blockchain-based gaming to the next level, blockchain scalable platform Polygon has partnered with Firstblood® to bring exciting gaming competitions to esports players around the world.

What is Polygon?

Formerly known as Matic Network, Polygon is a layer 2 solution that brings mass scalability and interoperability to blockchain. It aims to address some of the major shortcomings of the Ethereum network such as delayed transactions, network congestion, high gas fees, and lack of community governance.

The Matic Network was formerly a side-chain solution that used Plasma technology to process off-chain transactions before sending them to the Ethereum mainnet. However, the revamped Polygon aims to be an official platform for the development of interoperable blockchains.

Using Polygon, developers can harness the power of existing technologies and programming languages ​​to build next-generation blockchain networks. These blockchains can interact with each other without any friction and can be customized to suit the needs of the developer. Polygon has retained its original MATIC token for utility and administration.

Polygonal partner with Firstblood®

Now, in a recent development, Polygon has partnered with Firstblood® to bring exciting gaming competitions to esports players around the globe. This partnership provides a way for esports players to earn tangible rewards by excelling in today’s popular games.

Firstblood®

Firstblood® is the world’s first esports and gaming platform powered by blockchain. It aims to empower esports players by encouraging them to play on their platforms. The Dawn protocol created by Firstblood® allows gamers to challenge each other to compete on the field and earn rewards. Dawn tokens are used to play paid games on the Firstblood® platform. Firstblood® has strived to gain attention from professional gamers and enthusiasts around the world and it has over 120,000 monthly active users.

What this partnership means for the Blockchain-based gaming industry

This partnership between Firstblood® and Polygon could be a game changer for the emerging blockchain gaming industry. To celebrate this partnership, Polygon is investing $ 10,000 and several NFTs into the Firstblood® platform’s award pool. This means gamers around the globe will be able to participate in esports tournaments run by Firstblood® to earn live rewards in the form of NFT. The scalability and interoperability provided by Polygon will make it possible for this platform to serve millions of current and emerging gamers without any difficulty.

This partnership could drive the adoption of blockchain technology among traditional gamers. As Joe Zhou, Co-Founder and CEO of Firstblood® believes,

The polygon network is a leading PoS side chain that empowers game use cases in the blockchain. With this partnership, we look forward to exploring solutions provided by Polygon to attract more users to play traditional games from AAA titles.

Epilogue

Even though blockchain gaming is still an emerging industry, it looks like it has a bright future. In fact, all games in the near future may be blockchain-based. This is because the gap between in-game assets and actual financial assets is blurred out on the blockchain. In-game assets can be converted to NFT and proven to have real monetary value in the outside world. These monetary rewards could attract more and more mainstream gamers towards the blockchain game, and the Polygon and Firstblood® partnership could be a step in the right direction.

This article was first published on coinquora.com

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