Web3 gaming developer platform Immutable is forming a strategic partnership with blockchain protocol Polygon Labs to accelerate the development of Web3 gaming.
According to a press release, Immutable will power its platform products using Polygon's zero-knowledge technology to simplify the process of onboarding game studios and developers in Web3. The alliance aims to provide an option for businesses "that accelerates time-to-market and gives them access to an ecosystem that will be one of the largest and most liquid for end users," according to the press release.
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"By combining the number one Web3 gaming platform – currently serving hundreds of game studios and millions of players – with Polygon’s best-in-class zkEVM technology, we are building an Ethereum-centric gaming ecosystem that is poised to take Web3 mainstream and bring digital ownership to millions of people around the world,” said Robbie Ferguson, Immutable president and co-founder. “Billions of dollars of skins are sold each year with no rights for players – we’re changing that so players are in control, and ownership is the expectation.”
Immutable X (IMX), the company's native token, dropped roughly 15% to $1.29, a 24-hour low. Prior to the Web3 gaming studio’s announcement, the token was trading at $1.51.
Polygon has scored an impressive list of partnerships, including Nike, Reddit and Starbucks, and recently partnered with Square Enix, the company behind the Final Fantasy video games, to develop a non-fungible token (NFT) project. Meanwhile, Immutable has partnered with companies including GameStop, DC Comics and Marvel to build out over 140 new titles building on the existing platform.
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