PlotX Raises $5 Million from Polygon and Hashed to Build Their GameFi and Play-2-Earn Ecosystem

PlotX, a gaming dapp with 80,000 users receives investments from Polygon and Hashed

Polygon & Hashed spearheaded a $5 million pre-Series A investment round and grant for PlotX, a gaming dapp based on Polygon. PlotX is currently one of Polygon’s fastest-growing GameFi ecosystems, and this additional funding will help them expand their large user base even further.

Several noteworthy investors participated in the round, including Hashed, Polygon Studios, Animoca Brands, Alpha Wave Global (previously Falcon Edge), and power angels such as Sandeep Nailwal (Co-Founder Polygon), and Alan Howard (Co-Founder Brevan Howard Asset Management).

PlotX already has over 80,000 verified on-chain gaming users and is expanding at a rate of 144 percent per month. PlotX’s current game is a skill-based trivia game in which players must anticipate real-world events’ outcomes to receive rewards every hour and will also offer staking services to its users.

Ish Goel, co-founder of PlotX in an interview with Hackernoon said:

We are thrilled about the infusion of this new capital as grant + funding. Polygon is the torchbearer of scalable L2 solutions around Ethereum and we’re humbled by the support we have received from their community as well as others. It’s still Day 1 at PlotX and we’re just getting started with our vision of building the most accessible & sustainable GameFi ecosystem in the world.

Many platforms are attempting to deliver their unique offers in the Play-2-Earn area in the aftermath of Axie Infinity’s breakout success. PlotX’s new Play-2-Earn game aims to address the sustainability challenges plaguing P2E ecosystems, offering the most approachable crypto opportunity for the world’s emerging markets.

The principle behind PlotX aims to schematize the crypto world to reach new economies over GameFi, CeFi, and DeFi. PlotX has developed the ‘Web 2.5 UX,’ where users may conduct transactions for as low as $1 — without having to pay any gas charges — while being non-custodial.

The Rise of GameFi and Play-2-Earn

Traditional games can be reinvented in the metaverse with interactions that connect rather than separate players. The digital world and reality are gradually becoming indistinguishable from each other as the conventional gaming business has developed and individuals have started to spend more time online. However, traditional games have left substantial holes in their capacity to link them to their environment in a more coherent experience, even though many gamers were already acclimated to engaging in many virtual worlds.

This distinction soon drew attention to the metaverse notion. Players are urged to do more than engage in thrilling gameplay since the game is more than a game. Indeed, with the advent of the blockchain, the metaverse has expanded to encompass real-world economics, replete with considerable earning potential, such as the capacity to produce resellable user-generated content (UGC) — capacities previously unavailable in the game industry.

In 2021, Polygon witnessed a rise in popularity among DeFi and GameFi apps, including native decentralized exchanges like QuickSwap and integrations with platforms like Decentraland, The Sandbox, and others. Thanks to its increasing array of products, developers can easily access all main scaling and infrastructure options, including ZK Rollups, sidechains, hybrid solutions, and more. Polygon has achieved significant adoption, including over 3000 different apps hosted, over 1 billion total transactions performed, and $5 billion in assets safeguarded.

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