Ethereum (ETH) infrastructure developer Polygon has spun off a new subsidiary to advance its work in blockchain gaming and nonfungible tokens, or NFTs, offering further insight into the company’s long-term growth strategy.
The newly formed Polygon Studios has three core objectives: establish Polygon’s position as the leader in decentralized gaming; create a brand that attracts developers and investors to its NFT ecosystem; and position Polygon as the best venue for transitioning to Web 3.0.
Through an initiative called Polygon Gaming Studio, the company aims to help developers create and market decentralized games. A separate initiative, Polygon NFT Studio, aims to help brands and intellectual property owners launch customized digital collectibles and marketplaces.
“With the launch of Polygon Studios, games get 360-degree building support, big brands and much loved franchises can launch on Polygon, and gamers can enjoy a whole new world of play to earn opportunities and decentralised gaming,” the company said Monday.
Polygon has quickly emerged as one of the more developer-friendly platforms in the blockchain industry. The platform added 75,000 new users over a seven-day period in May and has been the source of major partnerships around decentralized applications. Billionaire investor Mark Cuban has also backed Polygon for its technical prowess and growing user base.