Polygon (MATIC) Soars 1,615% in Gaming Addresses as Positivity Grows

Ethereum scaling solution Polygon (MATIC) has experienced a notable increase in gaming addresses, increasing by a surprising 1,615%. This significant increase highlights the growing interest and optimism surrounding Polygon's role in the gaming sector.

According to a recently released "State of Polygon Q1 2024" report by on-chain analytics firm Messari, Polygon game activity increased in the first quarter of 2024, with daily game addresses increasing 1,615% quarterly to 207,000, and transactions daily games increasing 469% over the same period to 734,000. The increase in activity was mainly caused by MATR1X's game MATR1X FIRE.

Several developments have also boosted Polygon's gaming ecosystem: Immutable, in partnership with King River Capital and Polygon Labs, launched the $100 million Inevitable Games Fund, which focuses on the Web3 gaming ecosystem. Additionally, Square Enix collaborated with Animoca Brands to expand its NFT game, Symbiogenesis, globally.

Other key metrics also highlight Polygon POS's growth: Polygon's stablecoin market cap rose to $1.5 billion, representing a 19% increase quarter over quarter, with USDT leading the stablecoin market cap in US $792 million.

Outside of gaming, DeFi daily active addresses increased 67% quarter over quarter to 50,000. NFTs and social networks have also seen increasing activity, although in much smaller quantities than gaming and DeFi.

Polygon is currently undergoing some important evolutions, increasing optimism around blockchain. Polygon Labs, a software company focused on zero knowledge (ZK), is creating a network of aggregated blockchains called AggLayer, which is secured by Ethereum.