PlotX Secures $5 Million in Funding Grant Led by Polygon

PlotX is a gaming dapp developed on Polygon, which has announced its $5 million pre-series A funding round and grants led by Hashed and Polygon. It is the fastest-growing GameFi ecosystem on Polygon, and the new capital will be helping to increase its global reach. 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), Alan Howard, and others (Co-Founder Brevan Howard Asset Management).

It is home to more than 80,000 paying users verifiable on-chain, growing at 144% every month. The latest game available in PlotX is a skill-based trivia game where the users will predict real-world events’ results for earning rewards every hour. Many platforms are attempting to deliver their unique offers in the Play-2-Earn area after Axie Infinity’s breakout success. PlotX’s new Play-2-Earn game aims to address the sustainability challenges that plague P2E ecosystems, offering to be the most accessible crypto opportunity for the world’s rising nations.

By harnessing the Polygon Network, PlotX has invented what they name the ‘Web 2.5 UX’, where the users can carry their trading operations for a minimum of $1 even without paying any gas costs while managing to remain non-custodial.

PlotX has recently introduced its staking program with participants rewarded with a combination of bPLOT and MATIC. “PlotX has discovered the holy grail of product-market-fit,” stated Sandeep Nailwal, co-founder of Polygon. I’ve been following their progress in the crypto space since 2017, and it’s been incredible to watch PlotX flourish. We’re cheering for PlotX to become India’s Axie Infinity, powered by Polygon, and we’re thrilled to be working with them.

In 2021, Polygon has seen an increase in popularity among DeFi and GameFi applications, including native decentralised exchanges like QuickSwap and integrations with platforms like Decentraland, The Sandbox, and others. Its growing suite of products provides developers easy access to all the significant scaling and infrastructure solutions like sidechains, ZK Rollups, hybrid solutions, and more. With over 3000 different apps hosted, over 1 billion total transactions performed, and $5 billion in assets safeguarded, Polygon has already experienced significant adoption.

“We’ve witnessed the success of Axie Infinity up close and are now experiencing what PlotX is doing for the India++ market,” said Ethan Kim, co-founder, and partner at Hashed. P2E games like PlotX, a Web3 project with a frictionless Web2 user experience, would foster mainstream crypto adoption in emerging economies like India. Web3 skill-based games that reward individuals for their expertise will open the floodgates for meaningful mainstream adoption. PlotX is in a great position to lead this charge, and we’re thrilled to be joining the PlotX community on this adventure!”

Read this Polygon coin price prediction to know why MATIC is the altcoin to look out for.