Immutable X Launches Gas-Free Layer-2 Solution Paving the Way to Mainstream NFT Adoption
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Zero gas fees, Self custody and Security for NFT Developers, Creators and Traders
Sydney, April 08, 2021 (GLOBE NEWSWIRE) -- Immutable X alpha launched on mainnet today, the first layer-two solution for NFTs on Ethereum, created by Immutable — the team behind one of Ethereum's highest-grossing trading card games, Gods Unchained. To coincide with the launch, Immutable has released the Immutable X roadmap to grow digital economies.
Historically for developers and creators, NFT projects faced a lot of friction to unlock the network effects of a scaled marketplace and the economic potential of secondary NFT markets. Particularly, high gas fees and poor user experiences limited mainstream adoption. Central to accessibility is removing the barrier of surging gas fees for the user.
Through Immutable X, its layer-two scaling solution, Immutable aims to promote mainstream NFT adoption by offering gas-free minting and trading, self custody alongside seamless UX for developers and consumers. Immutable X is also ensuring any NFT activity on the protocol is completely carbon neutral by purchasing carbon credits to offset gas consumed on Ethereum.
“With today’s Immutable X Alpha release, any NFT can now be traded, earned, shared, gamed and collected completely gas-free on Ethereum,” said Robbie Ferguson, Immutable Co-Founder.
Notable NFT projects working with Immutable X include: OpenSea (NFT marketplace), Mintable (NFT marketplace), RTFKT studios (fashion NFT artists) HighRise (social sandbox), TokenTrove (collectibles marketplace ) SuperfarmDAO (DeFi NFT farm), Epics.GG (collectibles), Illuvium (auto battler RPG), Lucid Sight (MLB Champions Baseball, Crypto Space Commander), War Riders (post-apocalyptic MMO), Gods Unchained (TCG), Guild of Guardians (mobile RPG), doublejump.Tokyo Inc / MCH+ (My Crypto Heroes and other blockchain games) AND Crypto Assault (strategy MMO).
“Before Immutable X, developers had few alternatives. Move to another blockchain that provides more scalability, but a fraction of Ethereum’s ecosystem and security, or use a sidechain. Neither are viable options for developers that want to prioritize revenue security and self-custody,“ Ferguson added.
As the first layer-2 scaling solution for NFTs on Ethereum, Immutable X solves all three issues of the NFT scaling trilemma: accessibility, scalability without compromising user custody and true decentralization.
“We have also been able to work closely with the incredibly talented StarkWare team, who have consistently pushed the boundaries of proving capability. StarkEx powered Immutable X minting on Ethereum Mainnet,” said Alex Connolly, CTO Immutable.
What to expect from Immutable X?
Immutable X offers gas-free and instant trades: For any marketplace, game and decentralized app, Immutable X provides gas-free trades (gasless minting, trading, earning, collecting), instant NFT trades (up to 9,000+ transactions per second) driving scalability, without compromising user custody.
Immutable X enables attractive, dynamic trading UX for users: Within an uninhibited developer-friendly playground, developers have the ability to build more attractive features for their users which are cost-prohibitive on Ethereum today e.g. trading, crafting, free drops, unique rewards, fusing, voting, auctions.
Immutable X provides self-custody for NFTs: Users will remain in control of their NFTs, tied back to the security and interoperability of the main Ethereum blockchain so NFTs won’t be locked into walled gardens or restrictive ecosystems.
Immutable X is a true Layer-2 secured by Ethereum: Immutable does not compromise on decentralization or security.
“The security of this future world should not be owned by large corporations, venture capitalists, a government or one individual. It has to live on something truly decentralized, owned by the world. That's why we’ve chosen to scale Ethereum, rather than a centralized blockchain,” Ferguson added.
NFTs on Immutable X are carbon neutral: any NFT, marketplace or game built Immutable X is 100% carbon neutral.
To coincide with launch Immutable has released the Immutable X roadmap.
Deus phase 1
- At Deus phase 1, Gods Unchained players have exclusive access to Immutable X with the marketplace open and trading live.
- Gods Unchained users can get in on the ground floor ensuring their Gods Unchained assets are among the first to be minted on Immutable X through the new expansion set card Trail of the Gods. At the time of publishing, 1.45m Trial of the Gods assets had been minted on Immutable X.
- Features live today for Gods Unchained users are: linking wallets, minting and trading Trial of the Gods cards.
Cosmos phase 2
- At Cosmos phase 2 Immutable X will be made available for all other exchanges and Dapps closely after. Ferguson confirmed “integration with TokenTrove has begun and we’re integrating other partners as we speak.”
- Confirmed feature examples slated at phase 2 include: APIs test environment through to full integration, NFT deposits + withdrawals, Trader sorts + filters and Set trading fees
Metaverse phase 3
- At Metaverse phase 3, Immutable X will be launching significant exchange success, expansion, optimization and scalability features.
- Confirmed feature examples slated at Metverse phase 3 include: Liquidity incentives: fiat support, drops, unique rewards, Frictionless onboarding, Wallet management, Mobile.
Multiverse phase 4
- At Multiverse phase 4, Immutable X will be launching mind-bending developer and trader UX improvements.
- Confirmed feature examples slated at Multiverse phase 4 include: Developer UX: proving platforms, primitives, services. Trader UX: metadata orders, AMMs for NFTs
Utopia phase 5
- At Utopia phase 5 is when crazy-new verticals will be added and where Immutable X has made strides towards a utopia, where the world is more tradable.
- It is the most fluid phase because it’s farthest away and involves most shapeshifting strides to take place. “We are rapidly moving toward full digital economies. Here Immutable will release its vision for physical assets at this point. How we will address titles like physical assets e.g real estate, unique resources like diamonds. Digital ownership via NFTs is only the beginning,” Ferguson added.
For more information visit the Immutable X Marketplace here
Immutable is an Australian-based company and market leader in scaling blockchain marketplaces. Immutable is creating a trading ecosystem that’s more accessible, empowering and rewarding people in digital ownership. Their goal is to make the whole world tradable on Ethereum.
Through the Immutable X platform, the company is bringing transparency to the opaque world of digital asset economies (NFTs, non-fungible tokens), providing sellers and buyers true digital property rights. Immutable builds infrastructure for marketplaces that developers can use to provide better value to their users, and to introduce free-market economies inside their games.
Immutable X is the first Layer-2 scaling solution for NFTs on Ethereum, with instant trade confirmation, massive scalability (at least 9,000 trades per second), zero gas fees -- all without compromising user custody.
Immutable is responsible for launching the most successful blockchain Trading Card Game, Gods Unchained, which is headed up by Chris Clay, the former director of Magic the Gathering Arena. Notable NFT projects working Immutable X include: OpenSea (NFT marketplace), Mintable (NFT marketplace), RTFKT studios (fashion NFT artists) HighRise (social sandbox), TokenTrove (collectibles marketplace ) SuperfarmDAO (DeFi NFT farm), Epics.GG (collectibles), Illuvium (auto battler RPG), Lucid Sight (MLB Champions Baseball, Crypto Space Commander), War Riders (post-apocalyptic MMO), Gods Unchained (TCG), Guild of Guardians (mobile RPG), doublejump.Tokyo Inc / MCH+ (My Crypto Heroes and other blockchain games), and Crypto Assault (strategy MMO).
Immutable was founded in 2018 (Fuel Games). In September 2019, Immutable raised $15 million in Series A round led by Naspers Ventures, part of Naspers, a global internet group and one of the largest technology investors in the world, and Galaxy Digital EOS VC Fund, a $325 million ecosystem development fund run by blockchain-focused merchant bank Galaxy Digital. Apex Capital Partners also participated in the round.
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