Ethereum(ETH) remains the most decentralized and secure when compared to other L1s however scalability has always been the bottleneck as the network struggles to cope with an increasing number of transactions. As a result, the high demand for Ethereum’s block space has led to high gas fees.
Most recently, the much-awaited Bored Ape Yacht Club (BAYC) “Otherside” Metaverse land sale launched, and due to its overwhelming popularity, high network congestion on Ethereum’s mainnet leading to high gas fees on OpenSea ~Average Gas Fees of 1.25 ETH, $3,500.
Immutable and StarkWare partnered to create Immutable X, leveraging Starkware’s L2 scaling expertise along with Immutable’s deep understanding of the NFT space.
IMX is a Layer 2 Scaling Solution specifically designed for games and game developers without compromising on Security & Scalability.
Gamers get to play & earn with zero gas fees on their NFT mints whereas game developers are able to greatly expedite their development process with powerful APIs, SDK modules along with user-centric documentation to build & launch faster!
Rollups are widely regarded to be the most prominent scaling solution in Ethereum’s ecosystem as it provisions for world-class scalability ~9,000 TPS and user experience while retaining the underlying security of Ethereum.
ZK Rollups batches transactions off-chain and generates validity proof (ZK-STARK) containing proof of validity for each transaction. The validity proof is then sent to the main chain for verification and state execution.
Lower Transaction Fees - As transactions are bundled, Gas fees are shared among users
Higher Throughput - Only the Validity Proof is required for state execution
Secure & Decentralized - Data Retrieval only requires validity proof
Immutable X gaming suite comprises AAA-rated games like Illuvium, Gods Unchained, and Guild of Guardians with the highly anticipated Illuvium currently in Beta.
Illuvium recently concluded its land scale selling out 20,000 land plots valued at $72 million making it one of the most successful NFT sales of all time where this initial land sale represents only the first 20% of available land on Illuvium.
In spite of the immense traffic and demand, users were still able to enjoy a smooth minting gas-free process powered by the IMX platform thus playing an integral component in Illuvium’s successful land sale.
Most recently, Immutable has also launched a $500M developer and venture investment fund to exponentially accelerate the growth and adoption of Web 3 NFT & Gaming projects built on Immutable X.
VeVe has a rich collection from famous brands including Marvel, Disney, Jurassic Park, Fast & Furious, and many more!
Immutable X is poised for massive traction as the VeVeVerse seeks to offer an immersive Metaverse experience in the future
Tiktok Top Moments NFTs powered by Immutable X provide a way for creators to be recognized and rewarded as well as for fans to own these significant moments.
These NFTs can be minted and traded with zero gas fees on IMX!
Leading NFT ticket provider GET Protocol has partnered with Immutable X to launch an NFT ticket marketplace which positions the protocol to onboard the next billion users through gas-free NFT transactions
As of today, up to 2 million NFT tickets have been issued by ticketing companies & popular artists such as Gucci Mane & Lewis Capaldi.
Moving forward, as NFT tickets utility increases as well as industry adoption of GET Protocol’s ticketing model, there will be massive demand for Immutable X’s platform.
