Polygon Continues Web3 Drive With Investment in Gaming Developer

Layer 2 protocol, Polygon announced early today that it has invested in gaming developer, Hike. The Twitter announcement described Rush Gaming Universe as India’s most exciting social gaming universe. 

Polygon Invests in Hike

The investment means that the Rush Gaming Universe platform will now deploy on Polygon Network.

India’s most exciting social gaming universe is being built on #Polygon. Check out @RushGamingU by @Team_Hike!

Explore a world where gamers can own digital assets using their skills to play, compete and win: https://t.co/SWkC4BhiBe

— Polygon | $MATIC 💜 (@0xPolygon) January 27, 2022

Hike developed the Rush Gaming Universe, which has emerged as one of the top gaming platforms in India. Launched a year ago, RGU has been doing incredible numbers. The platform now generates $50 million Gross ARR.

Rush Gaming Universe is a virtual world of fun and entertainment, with more than 100 million gameplays per quarter across eight different games. The whole ecosystem is currently built around the app, but the platform is now looking to deploy on-chain for a better experience.

According to the CEO and Founder of Hike, Kavin Bharti Mittal, a new era of gaming is emerging where players will be at the centre of the ecosystem. He stated that gaming wouldn’t just be a source of joy and entertainment for people in this new era. It’ll also provide economic opportunities for people.

By partnering with Polygon, Rush Gaming Universe will have access to the robust infrastructure of Ethereum. While Polygon started as a Layer 2 sidechain for Ethereum, it has gradually emerged as a major network of its right.

The partnership with Hike aligns with Polygon Web3 aspirations. The network is currently making itself a digital culture hub amidst the metaverse trend. It has established Polygon Studio recently and has been recruiting top executives for the project. 

It recently hired YouTube gaming executive and esports commentator Ryan Wyatt as the CEO. Polygon Studio also announced a partnership with Adidas Originals and Prada that’ll see it launch a unique NFT project.

Polygon’s Price Down in the Last 24 Hours by Over 1%

While Polygon is making new inroads into the Web 3 space, its native token, MATIC, is yet to find its way back to its past glory. The token has lost over 40% of its value in the past thirty days, and nothing seems to be breaking the fall.

As of press time, the asset is trading for $1.59 after it shed around 1.3% of its value in the last 24 hours.

Polygon’s implementation of EIP-1159 for its token hasn’t had much of an impact on the price. But the development of a social gaming universe of the network might have a positive effect. Moreover, RGU promises a new class of users for the Polygon network when deployed.