Polygon's Sandeep Nailwal believes no crypto ecosystem is fully decentralized apart from Bitcoin and Ethereum.
Sandeep Nailwal, co-founder of a blockchain platform that aims to create a multi-chain blockchain system compatible with Ethereum, Polygon, has emphasized the potential of Web3 gaming in a recent Reddit "Ask Me Anything" (AMA) session, citing it as a potential catalyst for widespread crypto adoption.
On May 25th, Nailwal was quizzed about practical, large-scale use cases of blockchain technology beyond traditional trading and payments.
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Responding to this, Nailwal identified gaming as the most significant opportunity for cryptocurrency growth. Polygon co-founder elaborated:
There are some top games launching in Web3 in the next 6-18 months and it would be very interesting to see if some of them are able to crack the crypto code. Last year itself there was $2 billion+ in funding for Web3 games.
It is worth noting that Polygon and its partner Immutable X received a significant portion of these funded games.
When questioned about the speculative nature of the crypto market, Nailwal did not deny the assertion but instead explained the dual-sided impact of this speculation, calling it "boon and bane."
Boon cuz it attracts top talent towards the industry, bane cuz obviously, a large number of users and applications are speculative in nature. But one could argue that any potential big industry invites a lot of speculation early on. It was the same with the Gold rush area and it was also the same for the Dot com boom.
The discussion also navigated toward decentralization, where Nailwal highlighted that crypto is still in its infancy. According to him, no blockchain ecosystem, except for Bitcoin and Ethereum, is fully decentralized. He added:
What we need is progressive decentralization of protocols and applications as they achieve larger and larger significance.
Over a month ago, in April, the community vote ruled that DEX Uniswap was set to roll out on Polygon's zero-knowledge Ethereum Virtual Machine (zkEVM).
Sandeep Nailwal’s insights into the potential of Web3 gaming to revolutionize the crypto space further amplify the anticipation for the blockchain future. As Polygon and Immutable X prepare to launch their gaming-focused blockchain, the gaming industry might soon witness a massive transformation fueled by crypto adoption.
