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Polkadot has been featured in the crypto news headlines on several occasions over recent weeks – and for all the right reasons. However, even with big news around a new platform launch and a long-awaited meeting of minds between founders, it’s in the Web3 gaming segment that the multichain platform seems to be storming ahead.
Ethereum’s ongoing roadmap aside, it’s relatively rare for the largest established blockchain projects to announce big infrastructural upgrades. Polkadot has recently broken out of this mold with the news of JAM, a significant upgrade that will replace the existing Relay security chain with a more modular and flexible layer that will facilitate permissionless development on Polkadot.
To support this, the project has also announced a prize pool of 10 million DOT tokens, worth around $65 million, to promote innovation and ecosystem development through diverse implementations using the JAM protocol, which is aimed at increasing the overall resilience of the network.
Strategic Developments
What’s the rationale for such a substantial change? Well, a recent fireside chat between Polkadot founder Gavin Wood and Vitalik Buterin revealed that as well as technical considerations, ecosystem development and community building are key drivers for his desire to transform the way Polkadot works.
In this context, it seems as if a recent flurry of activity around Web3 gaming on Polkadot has likely been a part of its strategic development rather than a happy accident. After all, gaming has proven to be the Web3 use case with mass user appeal, far outstripping DeFi in terms of user numbers since it already has audiences that number into the billions. Web3 games are demonstrating their ability to tap into this established potential.
One example is Mythical Games, which is now part of the Polkadot ecosystem following a move previously announced in April. Mythical Games is behind several of the most successful Web3 titles, including NFL Rivals, which recently hit 5 million downloads across the Google and Apple app stores, making it one of the most popular Web3 games. It also happens to be one of the only apps, other than Madden, that’s officially approved by the NFL itself.
The NFL is one of the largest and most engaged fandoms in the world, since over half of people in the US call themselves fans, and around 58 percent engage with the NFL at least once each week. This creates a huge opportunity for Polkadot, via Mythical, to join names such as Smirnoff and Pepsico that already tap into this sizable audience.
Cultivating Crypto-native Brands
Mythical has also proven its ability to develop industry-leading brands from within its own stable. Pudgy Penguins, the blue-chip NFT collection that managed to cross the line into physical toys thanks to a collaboration with Walmart, is soon getting its own mobile game powered by the Polkadot architecture. The AAA title is expected to debut next year, with Mythical’s founder telling one crypto reporter that his firm was aiming for Pudgy Penguins to become the first “triple threat” in Web3, conquering NFTs, retail, and now via the new mobile game, social too.
Moonbeam Network is another Polkadot-adjacent project that’s aiming to tap into the burgeoning Web3 gaming opportunity, bringing more users to the ecosystem. In mid-June, Moonbeam announced the launch of a $13 million fund, and stated that bringing more gamers to its blockchain was one of its “primary goals.” Underscoring this commitment, the first recipient to be selected is N3MUS, a project aiming to integrate Web3 gaming into the mainstream by merging traditional gaming with blockchain technology.
Polkadot is evidence that even with the clout of a rockstar founder, credible technology, and an engaged community, building a successful blockchain ecosystem is a long and winding journey that involves bringing as many people as possible on board to keep going. However, by concentrating development on those segments that have already proven to have mass appeal, Polkadt is evidently seizing the opportunity to accelerate growth.