VeVe, the leading mobile-first digital collectible platform, announced a partnership with Immutable X, the first layer-2 scaling solution for carbon-neutral non-fungible tokens (NFTs) built on Ethereum. The collaboration paves the way for VeVe to scale its App from its current user base of 300,000 collectors to provide millions of everyday consumers seamless, secure and carbon-neutral experiences in the world of digital collectibles across all fandoms.
NFTs have been around since 2014 but have recently gained poularity to become the world’s most booming digital assets representing real-world items. While NFTs initially flourished in the gaming industry for ownership of in-game items, VeVe has proven the interest for NFT art, music, film and animations. Their recent drop of the DeLorean Time Machine from Back to the Future, featuring 87,000 NFTs, sold out in just a few hours and generated millions in revenue.
VeVe brings premium licensed NFT digital collectibles to the mass market at the touch of your fingertips as their services are easily accessible via the App Store and Google Play.
With over 500,000 NFTs sold and USD $30 million in NFT transactions, the VeVe platform has united fandoms across the globe with an ever-expanding roster of high-profile partners such as DC Comics, Cartoon Network, Star Trek, tokidoki, Ghostbusters, and Back to the Future. Whether the VeVe user is into pop culture, gaming, sports or film, there’s a NFT for everyone to buy, sell or bid directly on the VeVe platform. VeVe also offers users the ability to proudly display their digital collectibles with customizable, virtual and limitless-sized showrooms that have AR photo capabilities for an immersive 3D experience.
“Neutralizing our carbon footprint and environmental impact has been a top priority for VeVe,” said David Yu, CEO of VeVe. “Immutable X is the ultimate partner to continue this effort and we’re beyond thrilled to partner with them to bring our ever-growing community of digital collectors a seamless, secure and environmentally friendly experience.”
The future of the NFT industry is interoperable, and moving to Immutable X offers VeVe collectors more options when it comes to storing, trading and interacting with their digital assets. VeVe's partnership with Immutable X will also help to advance the VeVe platform's security, scalability and visibility, whilst maintaining the company's ethos of environmentally friendly digital assets.
“VeVe switching to Ethereum proves that scale, user experience, and carbon-impact no longer has to be a trade-off with core decentralization. We’re thrilled to help create a scalable way for hundreds of thousands of people to use Ethereum’s open ecosystem,” said Robbie Ferguson, co-founder of Immutable.
Immutable X was created by Immutable, the team behind one of Etherem’s highest-grossing trading card games, Gods Unchained. Immutable X teamed up with StarkWare, leading zero-knowledge proof provider, in order to provide instantaneous, gas-free transactions while retaining the security of Ethereum. Since its official Alpha marketplace launch in early April this year, Immutable X has proven scalability with over 9,000 trades per second.
Immutable X will help VeVe transition from a centralized blockchain to Ethereum and enable NFTs to be minted, traded, earned, shared and collected gas-free. Plus, users will enjoy improved user experience with instant trades and comfort their assets are secure in a decentralized blockchain environment.
Financial restrictions due to high gas fees have limited the NFT industry’s growth at scale. Communities won’t flourish when there are high barriers to entry, especially for the mass market newcomers. The partnership between Immutable X and VeVe will play a significant role in bridging the gap between the existing NFT enthusiasts and the general public, and meet the needs of artists and collectors across the globe.
Immutable is an Australia-based company and market leader in scaling blockchain marketplaces. Immutable has created a digital ownership ecosystem that’s more accessible, empowering and rewarding. Their goal is to make the whole world tradable on Ethereum.
Through the Immutable X platform, the company is bringing transparency to the opaque world of digital asset economies (NFTs, non-fungible tokens), providing sellers and buyers true digital property rights. Immutable builds infrastructure for marketplaces that developers can use to introduce free-market economies and provide better value to their users.
Immutable X is the first Layer-2 scaling solution for NFTs on Ethereum, with instant trade confirmation, massive scalability (over 9,000 trades per second), and zero gas fees - all without compromising user custody.
Immutable is responsible for launching the most successful blockchain Trading Card Game, Gods Unchained, which is headed up by Chris Clay, the former director of Magic the Gathering Arena.
Companies minting on Immutable X include: SuperfarmDAO (defi NFT farm), Epics.GG (collectibles), Illuvium (auto battler RPG), Lucid Sight (MLB Champions Baseball, Crypto Space Commander), War Riders (post-apocalyptic MMO), Gods Unchained (TCG), Guild of Guardians (mobile RPG), Mintable (NFT marketplace), double jump.Tokyo/MCH+ and VeVe.
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Founded in 2018, VeVe was created by collectors and for collectors to bring premium licensed NFT digital collectibles to the mass market. With over 300,000 active users and 500,000 NFTs sold, VeVe is the largest mobile-first digital collectibles platform and one of the top grossing Entertainment Apps in the Google Play and Apple stores.
Utilizing both blockchain and augmented reality technologies, VeVe offers premium licensed collectibles from leading brands including DC Comics and Warner Bros, the NFL Players Association (NFLPA), General Motors, Cartoon Network, Star Trek, tokidoki, Ghostbusters, Back to the Future and more. For the first time, these brands can provide customization to collectibles after their initial sale, creating endless revenue possibilities for products both new and previously offered. In addition, VeVe’s 3D augmented reality photo mode allows collectors to interact with every digital collectible, as well as share their collectibles through VeVe’s in-app social feed, or on external social platforms including Twitter, Instagram, TikTok and more.
In March 2021, VeVe committed to 100% carbon neutral NFTs and provided $7+ million in grants to environmental nonprofits to raise money for causes through NFT promotions. In addition, VeVe uses Ethereum’s layer 2 scaling protocol, Immutable X, which provides instant trade confirmation, scalability (over 9,000 trades per second), zero gas fees, and a 99.9% reduction in environmental footprint.
The VeVe Digital Collectible app is available on both iOS and Android.