Amazing things are taking place on the blockchain. NFTs are changing the way that we interact with digital media and art. Non-fungible tokens (NFTs) allow users to claim ownership of any type of art, music, video or metaverse gaming items. They also offer the possibility to trade cards and collectible trading cards.
NFTs will not be going away anytime soon. In fact, there is more buying and selling in the last month than in 2020. NFTs are a craze that has attracted celebrities, sports stars, musicians, and other notable figures. One protocol is helping to make this sector more sustainable for the planet.
Layer-2 protocol Immutable integrates well with Layer-1 chains such as Ethereum. Its infrastructure makes it easier to mint NFTs, making them much cheaper, quicker, and more efficient. Collectors have the option to move their NFTs to Layer-1 at any moment they wish.
Blockchain is attracting huge investment from VCs, financial institutions and Immutable has raised a staggering $60m for its Series A funding round.
Miners are carbon neutral and charge zero for gas
Immutable is the first Layer-2 protocol for NFTs. It promises creators no gas fees, instant trades and scalability in games, applications and their NFT marketplaces.
Immutable X, a NFT exchange that allows trading on the blockchain, is called Immutable X. It’s a decentralized network that allows users to set their trading fees for ERC-20 and ERC-721 tokens. It promises huge scaling up to 9,000+ TPS and reaps the benefits Ethereum security in a best-of-both-world architecture.
Minters can quickly track their product using Immutable X Mint. This is a secure and cost-effective way to create and distribute assets on a large scale, for single or bulk minting.
King River Capital and BITKRAFT Ventures led the noteworthy round. Prosus Ventures was also involved. Reinventure, Apex Capital and VaynerFund were also part of it. This money will be used to develop the protocol, expand collaborations with gaming partner, and grow the capability of Immutable’s popular NFT games, Gods Unchained, and Guild of Guardians.
Disclaimer: This article is intended for informational purposes only. This article is not intended to be used for legal, tax, investment or financial advice.