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Immutable X was launched today as a gaming platform with non-fungible tokens (NFT). This means that these games will have uniquely identifiable digital items that players can earn, buy or sell, allowing players to permanently own the items. And Immutable X has created a market for players of games such as Gods Unchained to buy and sell the items they have collected.
Immutable X, still in the alpha stage, can be a model for other blockchain games, designer markets, traders, and digital economies. The mainline of the platform will be open to Gods Unchained players, so they can use a marketplace to buy and sell.
Immutable X is the result of Unchanging, an Australian gaming team that runs the NFT collectible card game Gods unleashed. Gods Unchained is an important NFT game, as it’s built by a 40-person development team led by Chris Clay, the former director of Magic the Gathering: Arena. Gods Unchained is a ‘play to win’ game, where players can earn collectibles over time, Immutable founder Robbie Ferguson said in a recent interview with GamesBeat. And they can make money by exchanging these collectibles, including unique NFTs that can be proven by blockchain, the secure digital ledger technology, to be not copies.
Ferguson said the move would help accelerate the mass adoption of NFTs in games. In recent months, NFTs have exploded in other applications like art, sports collectibles and music. NBA Top Shot (a digital version of collectible basketball cards) is one example. published by Animoca brands and built by Dapper Laboratories, NBA Top Shot has surpassed $ 100 million in sales, five months after it was released to a global audience. And an NFT digital collage by artist Beeple, sold at Christie’s for $ 69.3 million. Investors invest money in NFTs, and some of these investors are game fans.
“With the release of Immutable X Alpha today, we have made that vision a reality. Any NFT can now be traded, earned, shared, played and collected without gas (gas fees are associated with the creation of the NFT) on Ethereum, ”Ferguson said.
In 2020, Immutable found the solution on the crypto frontier with StarkWare, which exploited the advantage of using Ethereum cryptocurrency and its security without incurring huge fees. Immutable X is built on the “Layer 2 scaling“The technology. The bottom line is that users don’t have to trust Durable Immutable permanently to continue owning their NFTs. They can just trust Ethereum. Immutable X’s mainnet is now available in as the first Layer 2 solution for NFTs on Ethereum, the company said.
“At the end of the day, that security is the key point,” Ferguson said. “If not, you might as well create a new centralized database.
“What our company has focused on is evolving these games and applications in the way that works best for users, and ultimately, still decentralized, while remaining extremely easy to use for consumer applications. . That’s why we decided to create Immutable X. We spent a lot of time researching a scalability solution. We need to make the NFT property proposition accessible to everyone. “
Other solutions to Ethereum create faster alternative cryptocurrencies with different methods to reach consensus. But these alternatives are not as popular as Ethereum. Another solution is to create a side chain, with a different kind of transaction processing. But Ferguson said these solutions may fail because their security is not yet as strong as Ethereum’s. If security fails, so does the authenticity of the NFT, and that would be disastrous, Ferguson said.
“Ethereum is the primary public blockchain in terms of network effects,” Ferguson said. “We decided to go for a true Layer 2 solution. We use Ethereum for everything we do. We simply compress the data by unconscious evidence [a verification technique], which allows us to achieve very high levels of scale. “
Last week, Immutable added a few Japanese blockchain games to help build momentum for Immutable X, Ferguson said. Gumi, the publisher of Brave Frontier, invests in Double jump Tokyo, and MCH came out of Double Jump.Tokyo. Gumi is the main shareholder of Double Jump.Tokyo. MCH + is the name of the partnership between Double Jump.Tokyo and MCH.
Together, Double Jump.Tokyo and MCH + bring four games to Immutable X: My Crypto Heroes, My Crypto Saga, Crypto Spells and Brave Frontier Heroes. The transition will be active as Immutable X will be live soon, and once that is done, players will be able to truly own the unique items they purchase in-games. My Crypto Heroes has lifetime sales of 26,000 Ethereum, or $ 41 million.
NFTs use blockchain technology, the secure and transparent digital ledger behind cryptocurrencies such as Bitcoin and Ethereum, to uniquely identify digital objects. The blockchain can verify the authenticity of something by spreading verification over a group of computers, a validation process called consensus, so that you can verify the authenticity and rarity of a particular NFT.
But in the past, developers and creators creating NFT games have faced a lot of friction to unlock the network effects of a large-scale market and the economic potential of secondary NFT markets. These parties faced high “gas charges” per mint or per trade.
Ferguson said the integration will allow Immutable X users to save on gasoline costs (the fees for performing blockchain transactions) and enjoy more engaging game mechanics.
As part of this partnership, Immutable will power the typing and trading of all games under Double Jump.Tokyo and MCH + via its scaling protocol for NFTs on Ethereum, Immutable X. Ethereum itself enables them. NFT, but it’s slow because it only handles around 15 transactions per second, and the transaction fees (called gas fees) can be huge compared to the price of the digital item.
To address these issues, Immutable created Immutable X, a Layer 2 scaling solution that sits on top of Ethereum but can handle 9,000 transactions per second and zero gas fees. It also has instant trade confirmation and is designed to make the world of NFTs less opaque, Ferguson said.
Ferguson said Immutable X is secure as a scaling solution because it relies on the Ethereum security system itself to secure transactions. This is important because someone could attack a blockchain’s consensus system to try to wrest control of an item. Attacking Ethereum is much more difficult than attacking other solutions such as side chains, Ferguson said. Ethereum has the strongest community when it comes to self-custody and decentralization.
But it has its drawbacks. Ethereum transactions use a lot of energy for verification, and people have pointed out that this could prove to be costly for the environment over time. Ferguson acknowledged this to be a downside, but he also said that Ethereum and Bitcoin have broad general support and are the most powerful cryptocurrencies available. They could thus attract a mass market. Over time, Ferguson believes Immutable X will have a solution for power consumption. Immutable X ensures that any NFT activity on the protocol will be completely carbon neutral by purchasing carbon credits to offset the gas consumed on Ethereum.
Ferguson said other projects on Immutable X include Doublejump.Tokyo Inc / MCH + (My Crypto Heroes, Crypto Saga, Crypto Spells, Brave Frontier Heroes, Chojo), Mintable (NFT Marketplace) SuperfarmDAO (Decentralized Funding NFT Farm) , Epics GG, (collectibles), Illuvium (automatic combat role-playing game), Guild of Guardians (mobile RPG) and Crypto Assault (strategy MMO). Rivals include Enjin and Flow from Dapper Labs.
Immutable launched three years ago as Fuel Games, and it has found success with its second game, Gods Unchained, which is sort of a digital Hearthstone. The company now has 90 employees and raised $ 15 million about 18 months ago.
Gods Unchained has tens of thousands of players playing every week – with over 2.5 million games played – and it has grown tenfold in the last quarter, Ferguson said. This was enough to make Immutable profitable.
But Gods Unchained hasn’t been able to develop until now, and that’s why Immutable built Immutable X, Ferguson said. As to how Immutable can get millions of players, Ferguson said Japanese games have a large number of players – up to a million – by comparison. This is why their switch to Immutable X is so important.
“The games are going to get there,” Ferguson said. “The fact that the revenue is there means it’s the right value proposition for game developers. With the NFT craze for art, it will be extremely good.
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