BEAM Surges after Collaborating with Immutable and Polygon for Gaming Expansion, Coti to Transform into Ethereum's Privacy-Centric Layer-2 Protocol by 2024

Daily Top Performer — Beam (BEAM)

SPX index is up 1.37%, upward trend was influenced by gains across all 11 S&P sectors, particularly utilities, real estate, and healthcare. The broader cryptocurrency market is up, with Bitcoin and Ether rising 4.77% and 4.16% in the past 24 hours. 

Today’s outperformer is BEAM, which jumped 18.7% after Beam partners with Immutable and Polygon Labs for multichain gaming expansion and marketplace development.

Beam (BEAM), launched in October 2023, developed by Merit Circle DAO, is a gaming-focused blockchain on Avalanche (AVAX). Beam is partnering with Immutable and Polygon Labs to expand its blockchain gaming platform and develop new products. This collaboration will integrate Beam's SDK into the Immutable and Polygon ecosystems, focusing on Sphere, a gaming asset marketplace using Immutable's zkEVM. The partnership aims to enhance blockchain integration in gaming, offering features like instant settlements and near-zero fees. This move represents a significant step in Beam's evolution from an Avalanche subnet to a multichain, chain-agnostic ecosystem, aiming to revolutionize gaming and digital ownership.

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Talk of the Town:

Coti, an enterprise blockchain platform, plans to transition to a privacy-centric layer-2 protocol on Ethereum in 2024. It will introduce advanced privacy features using garbled circuits, enabling confidential transactions without revealing sensitive data. This approach is suitable for decentralized finance and healthcare, focusing on privacy while maintaining regulatory compliance. Coti's current layer-1 protocol, with $31 million in total value locked, supports blockchain-based enterprise products. Coti v2's developer net release is scheduled for the second quarter of 2024.

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