Photon is a socket server and framework that enables real-time multiplayer functionality for cross-platform games. It has over 16,000 registered developers and offers transparent pricing to empower independent developers. Photon provides services for real-time multiplayer, turn-based multiplayer, chat functionality, and a server platform. While Unity Networking is convenient for starting networking experiments, it has drawbacks like requiring a master server and issues with NAT punchthrough, whereas Photon PUN addresses these issues.