More recently, role-playing game (RPG) Illuvium sold $72 million worth of virtual land plot NFTs on Immutable X. be easy to do and be beneficial to the gaming studio,” Ferguson said. “We are taking the lessons learned from building two of blockchain’s biggest games – Gods Unchained and Guild of Guardians – and hiring the smartest people from web2 studios like Riot Games to enter the world of NFT gaming. Immutable and its partners plan to provide development and tokenization advice, as well as community and marketing support, along with funding. NFT-powered games such as Gods Unchained, Guild of Guardians, Illuvium and Ember Sword are also built on the scaling solution.
Leading NFT market OpenSea also announced plans to integrate Immutable X in March 2021, although this has not yet been done. Immutable X is also being used by partners such as social video platform TikTok, NFT collectibles platform VeVe, entrepreneur and NFT creator Gary Vaynerchuk, and esports giant ESL. In February, Immutable and GameStop announced a $100 million token grant fund for crypto game developers.Ĭonfirmed by an irrevocable representative decrypt That the previous $100 million fund with GameStop is different from the newly announced Irrevocable Ventures Fund. GameStop is one of the most prominent firms to build on Immutable X, as its upcoming NFT gaming marketplace will use the platform. Potential video game use cases for NFTs include player avatars, virtual land plots, rare weapons and costumes. NFT is a blockchain token that acts like a proof of ownership, and is often used for digital goods such as artwork, collectibles and video game items. This makes Immutable X well suited for applications that require a large number of transactions, including potentially low-value purchases – such as crypto-powered games and NFT projects. The platform transacts on a separate chain, and then uses Starkware’s StarkX Rollup technology to bundle the transactions and commit them to the Ethereum blockchain. Immutable X is a scaling solution that enables faster, cheaper and more energy-efficient transactions than Ethereum’s own mainnet. Irreversible today disclosed a $500 million effort involving assets from firms including Animoca Brands, Bitcraft Ventures, GameStop, Arrington Capital, King River Capital, Airtree and Double Peak.Ĭo-Founder and President Robbie Ferguson said in a release, “Irreversible Ventures will target NFT projects that are committed to our growing digital ecosystem, with the understanding that we have just begun to scratch the surface of the huge potential for this category. Immutable Ventures Fund will invest in and provide grants to projects to be built on Immutable X using a mix of IMX tokens and cash in partnership with an array of VC funds and ecosystem partners. Immutable, the firm behind the immutable X layer-2 scaling solution for Ethereum, announced the launch of a $500 million fund to boost developer adoption of the platform.
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