Immutable X is a protocol that makes it easy for developers to create successful NFT projects.
Despite the recent explosion in NFT trading volume and interest, there are still many barriers for developers and users preventing mainstream adoption of NFTs, particularly on Ethereum
What problems does Immutable X solve?
Immutable X allows any developer to create world-class NFT projects, without having to compromise on the liquidity and network effects of Ethereum. With this in mind we set out to solve the following problems:
- Poor user experience: Immutable X gives users the best trading experience, with zero gas fees, instant trades and high liquidity via a shared global order book.
- Low scalability without compromising security: The Immutable X protocol supports an extremely high transaction throughput (9,000+ TPS), without requiring users to compromise the custody of their assets.
- Slow developer experience: Immutable X’s developer suite (SDKs and APIs) provides a permissionless gateway for developers to build a mainstream-ready NFT game, dapp or marketplace in days, not months.
Advantages of Immutable X
- Ethereum is by far the most dominant smart contract blockchain, and as a true layer-two zk-rollup, Immutable X directly inherits the security of Ethereum.
- Users can move their assets trustlessly between layer 1 and layer 2, which means there is no custody or security risk like with the Poly Network hack. NFTs on Immutable X never leave Ethereum at all.
- Ethereum has a thriving developer ecosystem creating useful applications and integrations across the ecosystem, a passionate community of end users and a massive market cap securing the network.
- This makes adoption of Immutable X easier because we can plug into existing Ethereum tooling such as stablecoins, DeFi protocols and wallets.
Misconceptions about Immutable X
The two main misconceptions that often given NFTs a bad rap from people new to the space:
NFTs are “just jpegs”.
NFTs are not limited to only ‘jpegs’ (images). They are unique digital tokens which can represent ownership of any item, including videos, in-game items, music, fashion, memberships, big ticket items like real estate and more. Thanks to the trustless and transparent nature of the blockchain, the public can easily verify the true ownership of these assets, making these NFTs far more valuable than the images associated with them.
NFTs are terrible for the environment.
NFT energy use will decrease drastically as the underlying blockchain technology improves. In fact, Immutable X is at the forefront of this initiative, and uses a fixed amount of energy regardless of scale (less than 1% of the standard Ethereum energy cost). We even purchase carbon offsets for the tiny amount of remaining emissions, and are carbon positive as a business.
On August 25, they announced the Immutable X Token Sale on CoinList, starting September 8 at 17:00 UTC. Immutable X is the first Layer-2 (L2) scaling solution for NFTs on Ethereum, with instant trade confirmation, high transaction throughput and zero gas fees – without compromising the security of Ethereum. So stay tuned!
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