In the midst of Ethereum’s scalability issues, ImmutableX has emerged as one of the leading layer 2 scaling solutions for Web3 games and NFT providers across the globe.
With the launch of the GameStop Marketplace, ImmutableX has climbed the ranks of top blockchains by NFT sales volume, sitting comfortably in the top three within the last 30 days. Their growth is only expected to continue as Immutable continues to onboard troves of Web3 games in record speeds.
What makes ImmutableX so favorable for users and developers alike? Let’s explore.
Solving Ethereum's Scalability Issues
Despite recent advancements with the Merge, Ethereum Mainnet still faces several scalability constraints, many of which are centered around its low transaction throughput.
Capable of processing only 30 transactions per second, network users are often forced to pay high transaction fees (also known as gas fees) to prioritize their transactions within a block.
The standard user experience goes as follows: either wait a long time for your transaction to process or pay an exorbitant transaction fee, sometimes worth more than the NFT itself.
This same dilemma is then passed on to community members looking to support your project. For Web3 games that conduct millions of daily micro transactions, the problem here is rather evident.
And that’s exactly where ImmutableX comes in.
The Benefits of Building on ImmutableX
Like many layer 2 scaling solutions, ImmutableX tackles this problem head-on, providing users with seamless, gas-free transactions at speeds of up to 9,000 TPS, while leveraging the full security of the Ethereum blockchain. Finally, gamers can enjoy lightning-fast, low-cost transactions across their favorite Web3 games.
Even more impressive are the benefits it offers to developers and gaming studios. Using Immutable ’s powerful, easy-to-use SDKs and APIs developers can save ample money and resources. With less time spent on development, developers can focus wholeheartedly on creating the smoothest gameplay possible. From minting to marketplaces and third-party wallet integration, all major gaming features can be created in minutes with a few basic lines of code.
ImmutableX also provides game creators with unparalleled reach and access to liquidity through the ImmutableX Marketplace and global-shared order book. With an ecosystem of partners, all ImmutableX NFTs are spread across IMX integrated marketplaces, including the GameStop Marketplace, Rarible, and NiftyGateway.
As many marketplaces shy away from paying creator royalties, ImmutableX has doubled down on its pro-royalties approach, offering guaranteed royalties enforced on a protocol-wide level on all marketplaces.
"Our vision is an ecosystem where creators have a choice over their royalty model and level of enforceability, and users can vote with their feet when it comes to the projects they feel strike the best balance. Soft-enforced royalties only serve to punish users who are trying to support projects and massively reduce the confidence creators and game studios can have in their revenue streams,” Alex Connolly, Co-Founder and CTO of Immutable, said in a corresponding release.
Lastly, partnering with ImmutableX allows all users to earn Immutable’s native utility token, $IMX, through the ImmutableX Trading Rewards program. From there, the $IMX can be staked, spent in the IMX marketplace, or converted to another cryptocurrency.
Many of the promised scalability features around sharding and throughput increases are expected to arrive by the end of 2023. As Ethereum scales, so will ImmutableX as it continues to offer unparalleled layer-two scaling solutions to a long list of gaming partners.