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Press Release

Polychain Monsters – Cross-Chain Interoperability in the NFT, Digital Collectible & Gaming Spaces

Reading Time: 2 minutes by on June 17, 2021 Press Releases
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Cross-chain interoperability is often seen as the “Holy Grail” of blockchain ecosystems of the future. This post outlines how Polkamon’s rebrand to Polychain Monsters fits with the project’s focus on blockchain interoperability in the NFT and digital collectibles spaces.

The Multi-Chain Blockchain Space

While Ethereum has enjoyed a first-mover advantage since it was first launched, its unprecedented success gave rise to a slew of competing projects that aim to leverage the security, transparency, and decentralization of blockchain in fast, low-cost, high-performance solutions. For example, Binance Smart Chain (BSC), Polkadot, and Solana were all created after Ethereum, each with a unique set of benefits and offerings.

As the crypto and blockchain spaces have matured, there has been a rise of a new set of innovations created with the same fundamentals, such as decentralized finance (DeFi) and non-fungible tokens (NFTs). The creation of multiple layer-one solutions and layer-two solutions on top of them has also been accompanied by cross-chain integration projects such as Chainlink, Polkadot, Cosmos, and more.

From Polkamon to Polychain Monsters

Polkamon, a digital collectibles project, was launched earlier this year to great success. With a deflationary tokenomics design, it provides collectors with opportunities to earn staking rewards. It completed the development of its native $PMON token and ultra-rare NFTs, and the development team is now working on cross-chain interoperability.

As it happens, the project name – Polkamon – was often associated with Polkadot, even though the project is not Polkadot-specific, nor are there currently any Polkadot integrations. However, the team formally announced cross-chain integrations with chains such as Elrond and Binance Smart Chain. To more accurately reflect Polkamon’s drive toward cross-chain interoperability and to also remove any ambiguity about chain focus, the project has formally rebranded from Polkamon to Polychain Monsters and will continue working on building a fast, secure, user-friendly multi- and cross-chain ecosystem.

Blockchain Ecosystems of the Future

The reason for this move is of significant consequence. The future of crypto blockchains will not be a winner-takes-all scenario. Instead, it is highly likely that what we see in the future will be multiple layer-one solutions co-existing based on the various strengths and weaknesses of each chain, as we have already seen with the meteoric growth of chains such as BSC, Polkadot, and more. The Polkamon rebrand – and, more importantly, the team’s focus on cross-chain interoperability – falls in line with these expectations.

Updates for Users

The next week or so will see branding updates published on the project’s official social media accounts, the Polkamon website, and crypto website data aggregators, as well as on relevant community resources and public-facing glossaries. New links and new domains reflecting the rebrand will also be published. The “Polkamon” name will be gradually phased out as news of the rebrand reaches Polkamon communities and users.

The name “Polychain Monsters” was deliberately chosen so that the project could continue to use the Polkamon tracker. By sticking with the token name of “PMON,” there will be no confusion for PMON token holders and Polkamon collectors. No token swap will be required either, and PMON will continue to be used as the native token for Polychain Monsters.

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