Amazing things are happening on the blockchain, and NFTs are changing the way we interact with art and digital media. NFTs, or non-fungible tokens, allow users to express ownership of anything ranging from art, music, video, metaverse gaming items, and collectible trading cards.
NFTs aren’t going away anytime soon, with more selling and buying taking place in the last month than in the entire year of 2020. Celebrities, sporting legends, notable artists, and musicians have all joined the NFT craze, and one protocol is helping to make this sector better for our planet as well.
Immutable is a Layer-2 protocol that works well with Layer-1 chains like Ethereum. NFT minting is cheaper, faster, and much more energy-efficient due to its infrastructure. Collectors have the option of moving their NFTs to the Layer-1 chain at any time.
The blockchain is seeing massive investment from venture capitalists and financial institutions, and Immutable has raised a whopping $60 million for its Series B funding round.
Miners can be carbon neutral and pay no gas fees.
Immutable, the first Layer-2 protocol for NFTs, promises creators zero gas fees, instant trades, and scalability for their NFT marketplaces, games, and applications.
Immutable X is an NFT exchange that allows for blockchain-based trading. It’s a decentralized chain that lets users set their own trading fees for ERC20 and ERC-721 tokens. It promises massive scalability up to 9,000+ TPS while benefiting from Ethereum security in a best of both worlds architecture.
Immutable X Mint, a secure way to create and then distribute assets on a massive scale for both single and bulk minting, can help miners get their product to market faster.
Both BITKRAFT Ventures and King River Capital led the significant funding round, which also included Prosus Ventures, Galaxy Interactive, Fabric Ventures, Alameda Research, AirTree Ventures, Reinventure, Apex Capital, and VaynerFund. The funds will be used to further develop this incredible protocol, expand collaborations with gaming partners, and enhance the capabilities of Immutable’s popular NFT games, Gods Unchained and Guild of Guardians.