Why Arcade Crypto (ARC), Polygon aim for cross metaverse NFT project?

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 Why Arcade Crypto (ARC), Polygon aim for cross metaverse NFT project?
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Highlights

  • On March 4, ArcadeNetwork announced a strategic partnership with Polygon Studio, an arm of the Polygon protocol and scalability platform.

  • ArcadeNetwork (ARC) is a decentralized platform that aims to provide asset interoperability in the cross metaverse.

  • The ARC token was up 16.82% in the last seven days, but it fell 56.5% YTD.

The ArcadeNetwork (ARC) crypto saw robust gains over the last seven days in the run up to its “Ask me Anything” sessions on Friday in collaboration with ShoeFyio, and DeFi_11.

However, the token traded 5.68% down to US$0.03626 at 1:36 pm ET on Friday.

On March 3, it saw one of its biggest recent gains when it rose more than 10.66%. 

The following day, ArcadeNetwork announced a strategic partnership with Polygon Studio, an arm of Polygon protocol and scalability platform.  

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Under the partnership, both Arcade and Polygon will explore technology convergence, promote, and develop GameFi and the metaverse ecosystem and interoperability. 

Interoperability means the ability of different blockchain networks to exchange and use data and move the digital assets on the respective blockchains.

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(Will Arcade Crypto (ARC) partnership with Polygon work?)

Source: Pixabay

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How the ArcadeNetwork (ARC) works?

ArcadeNetwork (ARC) is a decentralized platform that aims to provide asset interoperability in the cross metaverse. Their unique project is catching attention.

If the non-fungible tokens (NFTs) become interoperable in the metaverse, which they are currently trying to achieve, the project will become much more interesting. 

Polygon Studios partners with large NFT projects for globally recognized IPs and Brands. Its aim is to become energy-efficient while scaling the blockchain.

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Benefits for Gamers

 For gamers, the partnership would bring benefits. Arcade’s ArcBridge project will use Polygons blockchain, which it claims is carbon neutral. Gamers would be able to sell their NFTs on any Polygon supported NFT marketplace, such as OpenSea.

Another significant benefit will be that the assets of one game can be transferred to other games launched on Polygon Studios, reducing costs for gamers from different metaverse. 

The partnership aims to generate more revenue for Polygon and ArcadeNetwork using their respective strengths.

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Performance:

ARC has a self-reported circulating supply is 9,612,500.00, and its maximum supply is 229 million. Its current market capitalization is US$374,665. 

The token is supported by MetaMask and Binance Chain Wallet and is available for buy and sell on MEXC and PancakeSwap (V2). The ARC token fell 56.5% YTD but gained 16.82% in the last seven days, as per coinmarketcap.com.

Bottomline

 The crypto market is highly volatile. Hence, investors should apply due diligence before investing in the cryptocurrency market.

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