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Polygon, the company behind the Ethereum-scaling protocol of the same name, announced today it is partnering with GameOn Entertainment in order to build new NFT games in Polygon’s scaling platform. As part of the deal, Polygon is investing in GameOn’s product development costs.
Polygon is the creator of a crypto-based platform for NFTs, and has been investing more money in blockchain-based gaming tech. Polygon’s platform allows users to trade NFTs without having to pay hefty fees. Earlier this year, it announced that it’d set up a $100 million fund for projects that fuse blockchain and gaming.
GameOn is one of the recipients of this fund, as Polygon will provide funding for 50% of product development costs in a non-dilutive investment. GameOn provides other entertainment companies with “white label prediction games, fantasy games, NFT-based games and adventure-style games.” The partnership will allow GameOn to incorporate NFTs into its existing games as well as building new NFT-based games.
Matt Bailey, GameOn’s CEO, said in a statement, “Leveraging Polygon’s technology, GameOn continues to lean into blockchain and NFTs, bringing innovative gamification to the rapidly growing Web3 and metaverse economies. Through resource-driving partnerships and M&A, we’ll continue to double down on being the one-stop shop for gamification, including NFT-based games.”