Polygon has raised nearly $450 million in a funding round led by Sequoia Capital India.
Polygon is an Ethereum based token that provides cheaper and faster transactions over layer-2 side chains (chains that run on the Ethereum network).
By taking advantage of the new funding, Polygon will ensure the widespread adoption of Web 3.0 applications.
The others involved in the round were Galaxy Digital, SoftBank Vision Fund 2, Galaxy Interactive, Republic Capital, Tiger Global, etc.
According to an announcement made late on Monday, the funds will also allow Polygon to continue investing in the cutting-edge zero-knowledge (ZK) technology that is crucial to bringing the next billion users into Web 3.0.
Polygon Co-founder Sandeep Nailwal said that Web 3.0 builds upon the open-source ideals of the Early Internet, enabling users to control the network and create value.
Using Polygon, developers can build custom solutions similar to the ones provided by Amazon Web Services (AWS) – a tool for every use case with scalability at their fingertips.
Polygon PoS offers low fees and high transaction throughput on the Ethereum mainnet, already available in Web 3.0.
Nailwal stated that technological disruption didn’t begin with Web 2.0 and will not end there. The company is excited to see some of the same firms that funded the previous innovation cycle support their Web 3.0 vision.
The Polygon platform hosts more than 7,000 decentralized applications (dApps), making it the top destination for Web 3.0 projects.
The Polygon set of scaling solutions for the Ethereum ecosystem is used by thousands of developers across a wide range of applications.
Polygon – A New Horizon for Games
The Polygon platform has also become a prime destination for projects looking to build games on the Web3.
For this purpose, Polygon Studios, a blockchain gaming and NFT arm, was launched in July 2020, bringing Decentraland, DraftKings, Animoca Brands’ The Sandbox, and Decentral Games, Aavegotchi, Skyweaver by Horizon Games, Zed Run, Megacryptopolis, Neon District, Cometh, and Upshot.
According to the company, with a billion transactions recorded last year, Polygon PoS adoption has grown exponentially.
The market capitalization of Polygon’s native MATIC token exceeds $12 billion.
In total, about 3 million transactions occur per day on the Polygon network, more than twice the volume of Ethereum. Over 130 million unique addresses and more than 2.67 million monthly active users power the Polygon network currently.
Polygon (MATIC) addresses Ethereum’s shortcomings, such as high transaction costs, which hinder it from becoming the most prominent crypto, despite its substantial advantages over Bitcoin.
Polygon appeals to developers and investors due to its high scalability and low gas fees while supporting the development of decentralized apps and smart contracts using Ethereum’s high-quality security protocols.
Since Polygon (MATIC) value has increased significantly over the last couple of years, it can be attributed to the above factors.
Bloktopia and Polygon
The Bloktopia Metaverse is built on top of the Polygon blockchain (MATIC).
Bloktopia decided to build its Metaverse platform on top of the Polygon blockchain as it is one of the leading layer-2 Ethereum scaling solutions in the crypto industry today.
The Bloktopia team will use Polygon’s EVM compatibility, fast and low-cost transactions, and the general compatibility of the Polygon network with Bloktopia Metaverse architecture.
Bloktopia Metaverse (BLOK)
Bloktopia brings its whole Metaverse into a single skyscraper instead of other open-world metaverses such as Decentraland.
In this model, the skyscraper operates as a central location, and all users are invited based on their crypto experiences and knowledge stages.
By learning the basics of critical theory and cryptography, users can have a solid foundation to build networks and earn income through owning and renting real estate or advertising activities.
Bloktopia is committed to building a crypto community of the future by enabling an immersive experience in its Metaverse.
Who are Bloktopians
The owners of the Bloktopia tokens are called Bloktopians, and the Bloktopia platform will serve to attract cryptocurrency enthusiasts from around the world.
Bloktopia Metaverse offers all the services users need in one place, so it makes sense that many are highly interested in joining the growing community.
Therefore, participants will benefit from the freedom that a truly decentralized platform like Bloktopia can offer. A lot is promised and offered in the Bloktopia Metaverse.
Bloktopians will have the opportunity to generate revenue through various activities, including real estate, gaming, building relationships, and various other activities.
Bloktopia Metaverse Powered by Unity 3D Engine.
Bloktopia partnered with Sony Playstation and will work with their VR Headset to bring users the phenomenal virtual reality within the Bloktopia Metaverse.
Bloktopia will also utilize Unity, a leading-edge and the industry’s most advanced 3D Creation Engine, to create spectacular visualizations and experiences.
A majority of all gaming studios use Unity nowadays, especially when creating mobile games. Numerous console and PC games are also designed using Unity.
Game developers used to write out game programs with tons of artwork, animation, and sounds. Then they had to write the rendering engine, the animation, sound, and the physics system as well. Once they decided to port their game to another platform, they had to start from scratch.
Challenging that problem, Unity successfully gave the competing edge to game developers and creators today with its platform and robust infrastructure.
Unity’s developer-friendly pricing structure also significantly contributed to its popularity.
With Unity, game companies do not have to give a cut of their revenue. Instead, they pay Unity per seat as part of their subscription. In other cases, they will need to sign revenue-sharing agreements with other companies to use their engine.
Using Unity 3D Engine, Bloktopia will build its most attractive feature, the Bloktopia Metaverse.
Full-fledged Bloktopia Metaverse
The Metaverse is considered a unique decentralized virtual environment where the virtual and physical worlds converge.
Through the combination of VR and AR, the Metaverse creates an environment where users can participate in education, work, games, entertainment, commerce, socialization with others. It is usually communicated as a high-tech, hyper-real alternative and futuristic urban structure.
By using the cryptographic protocols that govern the management of digital assets such as digital art, advertising, real estate, and avatars in the Bloktopia Metaverse, participants will experience the fully-immersive-hyper-real alternate environment.
Bloktopia’s four principles
Bloktopia, the high-tech, 21-story building that rises from a virtual world powered by an NFT-based economy, allows users to learn, play, own and develop land filled with numerous events, activities, and advertisement possibilities to generate income.
Each of these fundamental components makes up Bloktopia’s Ecosystem:
Learn, Earn, Play, Create
The first component is built on the assumption that the crypto world can be challenging to understand. There is a great deal of information and resources available on the web in places such as YouTube, Telegram, Twitter, etc., but they are served in an unorganized manner. The objective of BLOKTOPIA is to address this challenge by providing a central hub where users can interact and learn in an open, friendly environment.
Through Bloktopia, one can earn revenue through multiple streams of income. Several ways exist for Bloktopians to prosper and earn, including buying property in the Bloktopia Metaverse, passive earnings, and advertising.
The Play component is essential to a metaverse as a necessary component of relaxation, fun, and competition. Play interactive games, chat with friends and explore a virtual world in the first person with Bloktopia.
Lastly, development projects allow members to stretch their creativity by designing scenes, artworks, challenges, and more using the simple make tool and engaging in contests for prizes.
EARN with Bloktopia (BLOK) token
To earn with &BLOK two options are available;
Simply put, REBLOK allows you to purchase land and buildings in Bloktopia. Bloktopians will be able to buy real estate following the TOKEN distribution event (TGE).
Bloktopia real estate will be sold over three periods, and all $BLOK tokens used to purchase Bloktopia real estate will be burned to reduce the supply of BLOK tokens by 22%.
Since Bloktopians can speculate on Bloktopia’s real estate and resell it for a profit or lease it to generate passive income, BLOK will be a worthwhile asset in Bloktopia.
Advertising is one of Bloktopia’s key revenue sources.
In the Bloktopia Metaverse, leading brands will have the opportunity to advertise with Bloktopia, and Bloktopia will work with key partners to provide them with this opportunity. Owners of Bloktopia tokens will receive a percentage of the advertising fees generated.
Find out more about ADBLOK here.
In addition, both centralized and decentralized exchanges will be able to trade $BLOK. There will be a reduction in overall supply due to the burning of $BLOK from initial real estate purchases.
BLOK is also needed to purchase items from Bloktopia, such as real estate space upgrades and marketplace items.
Briefly put, BLOK is an integral part of the Bloktopia Ecosystem, making it valuable and essential for the Bloktopia Economy to function smoothly.
What is Bloktopia Alpha?
Bloktopia Alpha Version is set to launch in February 2022, as announced by the company.
The Bloktopia Alpha Version will give Bloktopians a unique chance to experience the Bloktopia Metaverse for the first time.
Bloktopia Metaverse will be experienced both from the third-person perspective and first-person. Players will be able to collect $BLOK tokens through Play To Earn games, check out the NFT display, and enter virtual stores to find out what tenants are bringing to Bloktopia.
It’s said that the Bloktopia Alpha is the first functional and playable demonstration of what’s to come later in 2022.
Who can access Bloktopia Alpha?
It is announced that access to Bloktopia Alpha will be reserved only for the most loyal of Bloktopians. Details are expected to be revealed soon. Bloktopia News is dedicated to bringing you the latest information as soon as it becomes available. Stay tuned!Disclaimer: The information provided on this page does not constitute investment advice, financial advice, trading advice, or any other sort of advice and it should not be treated as such. This content is the opinion of a third party, and this site does not recommend that any specific cryptocurrency should be bought, sold, or held, or that any crypto investment should be made. The Crypto market is high-risk, with high-risk and unproven projects. Readers should do their own research and consult a professional financial advisor before making any investment decisions.
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