Sandeep Nailwal, the co-founder of Polygon, an Ethereum-scaling platform, is confident that Web3 gaming will be pivotal in driving widespread crypto adoption. During a recent Ask Me Anything (AMA) session on Reddit’s r/India community on May 25, Nailwal was asked about real-life use cases for blockchain beyond trading and payments. In response, he highlighted gaming as the largest-scale opportunity for crypto, emphasizing the substantial funding—over $2 billion—poured into Web3 games last year alone.
Nailwal expressed excitement about the upcoming launch of several top games in the Web3 space within the next 6-18 months. He also acknowledged Polygon’s significant involvement in the funded games, thanks to its partnership with Immutable X. By leveraging Polygon’s EVM-compatible zk-rollup technology, the collaboration aims to build a scalable gaming blockchain, enhancing the speed and functionality of blockchain games.
When asked if cryptocurrency has become too speculative, Nailwal acknowledged the presence of speculation but emphasized its dual nature as both a boon and a bane. Speculation has attracted top talent to the industry but has also led to numerous speculative users and applications. Nailwal drew parallels between the cryptocurrency industry and historical phenomena like the Gold Rush and the Dot-com boom, highlighting the tendency for speculation in nascent industries.
Nailwal acknowledged that, apart from Bitcoin and Ethereum, no blockchain ecosystem has achieved full decentralization yet. However, he stressed that initial full decentralization is not a prerequisite. Instead, progressive decentralization should occur as protocols and applications gain significance. Nailwal believes that networks need time to mature and scale before achieving substantial decentralization.
Addressing concerns about Polygon’s low Nakamoto Coefficient rating, which measures a blockchain network’s level of decentralization, Nailwal clarified that Polygon is a multi-blockchain ecosystem with two live public blockchains: Polygon POS and Polygon zkEVM. While the POS chain has a lower Nakamoto coefficient, it still surpasses that of many other large blockchains. Nailwal assured users that Polygon is actively working on significant releases and aims to have thousands of validators, ultimately enhancing the ecosystem’s decentralization.
In conclusion, Sandeep Nailwal, co-founder of Polygon, envisions Web3 gaming as a driving force behind mass crypto adoption. With substantial funding and the launch of top games on the horizon, Nailwal believes that gaming will unlock the potential of cryptocurrencies. While acknowledging speculation and the need for progressive decentralization, Nailwal remains optimistic about the future of Polygon and the wider crypto industry. As Web3 gaming continues to evolve, it may pave the way for mainstream adoption of cryptocurrencies.
