Two leading companies in the Web3 gaming space, Immutable and Polygon Labs, predict a significant expansion in the industry within the next few years. Robbie Ferguson, co-founder and president of Immutable, and Ryan Wyatt, president of Polygon Labs, told TechCrunch+ that Web3 gaming could see an increase of 10 million to 100 million gamers in the next year or two. If this prediction comes true, it would represent a massive wave of adoption that the decentralized gaming industry didn’t have before.
Recently, Immutable joined forces with Polygon Labs to help grow the scaling and adoption of the Web3 gaming subsector. This partnership aims to make Web3-enabled games faster to build, easier to use, and less risky for larger gaming studios and independent developers to get involved. The collaboration is expected to provide a seamless customer experience where players can easily use Web3 games.
Ferguson highlighted the potential of the Web3 gaming market, noting that over $100 billion is spent by players every year on in-game items, such as skins and costumes. However, these assets are currently not ownable by players or only exist in a gray marketplace. The opportunity lies in making these assets truly ownable by players, ensuring that the rights and keys remain with them rather than with a major third-party company.
Web3 gaming can only scale if true property rights are established, Ferguson believes. To achieve this, players should not need to understand how Web3 works under the hood. Immutable and Polygon Labs are working towards this goal by combining their expertise and technology to build an Ethereum-centric gaming ecosystem that aims to take Web3 mainstream and bring digital ownership to millions of people worldwide.
Both companies are committed to expanding the burgeoning Web3 gaming industry with new tools and mainstream partnerships. Immutable launched a $500 million venture fund for Web3 games, while Polygon launched a business unit focused on advancing Web3 gaming.
Moreover, Immutable recently introduced an all-in-one passport system to make the sign-in and management process easier for web3 gamers. As the Web3 gaming space continues to grow, the partnership between Immutable and Polygon Labs will play a crucial role in shaping the future of the industry.