New data since the release of Immutable X Alpha, shows the first layer-2 for NFTs has opened up the floodgates of microtrades and saved $1.3m in gas.
Layer-2 protocol Immutable X saves Immutable X NFT traders over $1.3m gas in its first 7 Days
In the first 7 days of trading, Immutable X has saved the @GodsUnchained community $1.3m+ USD of gas fees (from 33,479 trades at approx. $40USD gas per trade).
This is just the beginning.
Immutable X opens the floodgates for micro NFTs
Immutable X unlocks micro trades never before possible. Until Immutable X it made economic sense to pay surging gas fees from layer-one, on high value trades. Enabling artists to sell creations at scale. Immutable X has unlocked 31,117 micro trades, below $40USD in 7 days, that never before possible. The average trade from all trades was $20.48. That’s just one custom set of Gods Unchained cards, imagine the potential when the rest of our partners integrate.
“The reason why I’m incredibly proud of the average trade $20 stat, is no $20 trades are happening on mainchain right now due to gas costs. Through Immutable X, we’ve opened up artist experimentation and whole new economies of high volume, micro trades. That’s 31k trades for people, never before possible. Immutable exists for emerging creators and artists and this is a immensely rewarding to deliver for our community,” said Immutable, Cofounder Robbie Ferguson.
2.8x more P2P NFT trades occurred on Immutable X Layer 2 than occurred on Ethereum Layer 1 in last 7 days
Immutable X processed 2.8x more NFT trades in the last 7 days than Ethereum has done on Layer 1 in the last week, and that’s just Gods Unchained (2.8x = 33,479 Immutable X trades to 11,274 Ethereum L1 secondary sales Source: NonFungibleToken. Ethereum NFTs are scaling now, and it’s fully decentralized.
“ Trading NFTs on Ethereum is hard. Building an NFT application on Ethereum is even harder. Together with StarkWare and their incredible STARK-rollups, we've built a new solution to make NFTs ready for mainstream users and developers without compromising the decentralisation of Ethereum,” said Immutable CTO, Alex Connolly .
In just 7 days, from 11,777 unique wallet registrations Immutable X has delivered a gross marketplace trading value of $681k from 1,247 unique buyers at an average trade price of $20.48saving $1.3m+ USD of gas fees. That’s just one custom set of Gods Unchained cards, imagine the potential when the rest of our partners integrate.
“Launching the world’s L2 scaling solution for NFTs is an amazing accomplishment and has been a huge undertaking, but is just the first step for us as we transform the way that assets are owned and traded. “ Immutable CEO, James Ferguson.
Data is based on the last 7 days ending 23:00 1504 UTC/ 1604 08:00 AEST
To trade visit the Immutable X Marketplace here.