Immutable, a web3 gaming developer platform, has partnered with blockchain protocol Polygon Labs to enhance the development of web3 gaming. Immutable will use Polygon’s zero-knowledge technology to power its platform products and streamline the process of onboarding game studios and developers in web3. The alliance aims to provide an option for businesses that speeds up time-to-market and grants access to an ecosystem that will be one of the largest and most liquid for end users.
“By combining the number one web3 gaming platform, which currently serves hundreds of game studios and millions of players, with Polygon’s best-in-class zkEVM technology, we are creating an Ethereum-centric gaming ecosystem that is ready to bring web3 to the mainstream and offer digital ownership to millions of people worldwide,” said Robbie Ferguson, Immutable President, and Co-founder. “Billions of dollars worth of skins are sold every year with no player rights – we are changing that so that players are in control, and ownership is the norm.”
The price of Immutable’s native token, Immutable X (IMX), fell by roughly 15% to $1.29, a 24-hour low. Prior to the announcement by the web3 gaming studio, the token was trading at $1.51.
Both Immutable and Ethereum have focused on expanding the burgeoning web3 gaming industry with new tools and mainstream partnerships. In June, Immutable launched a $500 million venture fund for web3 games, while Polygon launched business unit dedicated to advancing web3 gaming in July. Immutable also launched an all-in-one passport system in January to make the sign-in and management process easier for web3 gamers, while gaming engine Unity expanded support for Immutable X in its developer toolkit last month.