As the NFT (non-fungible token) market grows rapidly, the related technology and infrastructure are also constantly evolving. However, as its popularity increases, the NFT market also faces its own set of challenges, including scaling issues and rising gas fees. In order to solve these problems, Immutable X came into being. It is a second-layer technology solution built on the Ethereum blockchain to increase the functionality and efficiency of the NFT market.
The birth of Immutable X
Immutable X was created by the famous video game Gods Unchained team to provide a next-generation protocol for the NFT industry. This protocol uses layer 2 zero-knowledge aggregation technology to provide users with instant transaction confirmation and huge scalability in a non-custodial manner. Immutable X is capable of processing up to 9,000 transactions per second without gas fees.
Key Functions and Features: Immutable
Reduce transaction costs: There is no need to pay high gas fees, making transactions more economical.
Global Order Book: Provides a global order book with the ability to instantly propagate NFTs to every market in the blockchain network.
Credit card payment: Integrated credit card payment function to attract mainstream gamers.
These features not only increase the efficiency of the NFT market, but also bring more convenience to a wider range of users and developers.
Immutable X’s team and investors
The success of Immutable X is inseparable from the strong team and investor support behind it. Leading the project is James Ferguson, who has been named to Forbes' Under 30 list and, before founding Immutable X, oversaw the software development team at an e-commerce company valued at $1 billion.
In addition, Immutable This support shows the huge potential of the project, and Immutable X is quickly becoming a highly anticipated innovator in the NFT and blockchain space.
Immutable X’s Token - IMX
Immutable X’s ecosystem utilizes the ERC20 token IMX, which has a total supply of 2 billion. Users can acquire IMX tokens in a variety of ways, including developing applications and trading NFTs. IMX tokens have a variety of uses, including:
Reward users: Users can earn rewards by holding and using IMX tokens.
Pay transaction commissions: IMX tokens can be used to pay transaction commissions and reduce transaction costs.
Staking: Users can put their assets into the staking pool to obtain staking rewards.
Community governance: Token holders can participate in community governance and influence the development decisions of the original community through voting.
This ecosystem is designed to drive broader user participation to promote the prosperity and development of Immutable X.
Immutable X Ecosystem
The Immutable X ecosystem includes several games that take full advantage of Immutable X’s technology:
Gods Unchained: This strategy card game has over 450,000 players registered. The game's background design is fantasy, and players need to combine various strategies to build cards and prepare GODS tokens.
Guild of Guardians: This is an action role-playing game where players form a team of heroes to conquer dungeon missions and earn rewards. The game has attracted more than 30,000 players and the NFT has grossed more than $24 million.
Undead Blocks: This is a multiplayer first-person shooter developed by Wagyu Games. Players can level up their characters by selecting various weapon NFTs and slaying zombies while acquiring in-game assets.
Immutable X received more than $900 million in Web3 funding in 2022, making Immutable
Immutable X Market
The Immutable X Marketplace provides users with a convenient trading platform, making it easier for new content creators to enter the market. The market allows users to view information such as previous transactions and their trading history, and integrates a shared liquidity system and a global order book, allowing third-party market developers to avoid the problem of constantly changing trading volumes in the market.
The functionality of this ecosystem helps provide a better NFT trading experience, enabling more efficient and effective transactions.
Immutable X’s technical advantages
Immutable X is one of the layer solutions mobilizing the adoption of zkrollups technology, focusing on the NFT space. As zkrollups technology continues to grow in importance in the blockchain space, the emergence of Immutable X is of great significance.
In addition, the extensive use of API abstraction layers also plays an important role in Immutable X. The introduction of this abstraction layer enables users to connect wallets and switch to different networks. REST API is used to simplify interaction with the blockchain. Through API calls, users can create and trade NFTs, thus avoiding dealing with smart contracts directly.
For developers, they can leverage Immutable X’s SDK, API, and wallet to integrate the platform to create NFT products like Play-to-Earn (P2E) games. This ecosystem’s tools and features help developers build and launch new blockchain applications more easily.
Summarize
Immutable Immutable:Overall, Immutable X paves the way for the future growth of the NFT industry by providing features such as instant transaction confirmations, reduced transaction costs, and a global order book. As more games and apps are added, the Immutable X ecosystem will become even more prosperous.