To date, it has been difficult for utility NFTs like game assets to scale with adequate liquidity without sacrificing decentralization or security. Immutable X addresses these problems and makes it possible for millions of gamers to fully own their virtual possessions in today’s most popular games.
Players can now easily trade any asset matched across many Ethereum Layer-2 and Layer-3 roll-ups thanks to this improved scaling solution. As a result, the issue of liquidity fractionalization, which affects all existing roll-up solutions, is now resolved. In addition, this breakthrough could serve a massive user base. So is Immutable X the future of web3 gaming?
What is Immutable X?
You might have heard about games on Immutable X. But what is it exactly? On the Ethereum network, users can trade NFTs thanks to the layer 2 protocol known as Immutable X. It has benefits like no gas fees and rapid trade confirmation. It is incredibly appealing to NFT traders just because of these two aspects.
With almost 30 million NFTs coined this year with no gas fees, the platform actually bills itself as “the sole gas-free minting platform.”
Immutable X has an audacious plan for the future. Only about 150,000 trades can now be supported daily on Ethereum’s network at a 30% use rate. At lower than 30% of the network’s capacity, Immutable X plans to accommodate more than 200 million trades every day.
How does Immutable X function?
You need to know everything about Immutable X before investing in it. So how does the platform work? The blockchain relies on the StarkWare-built zk-rollup scaling engine and the StarkEx verifier. Considering that the Ethereum ecosystem is expected to go as a scaling approach for the mid-term and the near future, Immutable X is convinced that zk-rollups will have a big role in the coming years of Ethereum.
Users place assets under lock and key in on-chain digital or smart contracts, trade-in bulk on the layer-2 chain, and validate in bulk on the L1 chain. The blockchain is then updated after a smart contract confirms the proof and is posted there.
Using this scaling method; assets can be created on the second layer without jeopardizing the safety of the first. It removes various restrictions placed on previous NFT-related Ethereum-based protocols and applications.
In contrast to NFT initiatives on the layer-one chain, Immutable X has high scalability and can handle over 9,000 transactions each second. With NFT wallets automatically combining credit card payments, it also significantly improves user experience. Finally, it has platform-specific software development kits (SDKs) and easy-to-use APIs that greatly improve the development process.
Earnings for the network come from a two percent transaction charge on the sale of main assets and a two percent fee on the exchange of NFTs, both of which are calculated in the currency used to make the purchase.
Furthermore, as Immutable X provides a shared order book available to all marketplaces, each marketplace is free to impose its own fees on each NFT order. The NFT mint may additionally charge a royalty on each coin.
What Makes Immutable X So Alluring?
Immutable X resolves several significant issues that have plagued the NFT and P2E space. High gas prices and scalability are two of these. The platform itself provides a number of additional capabilities that are very appealing to both developers and gamers.
For instance, it allows an amazing selection of NFTs on numerous marketplaces inside the network and is extremely safe due to its use of the Ethereum network. Simple APIs make building quick and enable quicker launches.
Mainstream Gamers Love Immutable X
It’s no secret that many NFT blockchain games aim for the mainstream market. A sizable audience of casual gamers still needs to be active on Web3. Game creators should take the chance to cash in on this booming market.
To get more esports teams playing blockchain games, Zilliqa recently teamed up with Alien Worlds.
Thanks to Immutable X and wallets that accept credit card purchases, the entry barrier to the market for mainstream players is lowered significantly.
As such, this is just another one of Immutable X’s many selling points.
You Don’t Need to Pay Gas Fees
The elimination of gas taxes is a huge selling point for Immutable X among both developers and consumers. To achieve this, it automatically batches together thousands of operations in the background and pays for its own gas. On successful sales, buyers just pay a 2% service charge.
Superior Long-Term Viability
Greener gamers and programmers are understandably concerned about the potential environmental damage that blockchain and cryptocurrency could do. However, Immutable X is a hundred percent carbon neutral, making it a competitive cryptocurrency.
Since Ethereum is the most popular and secure blockchain, it makes sense to host Immutable X on that network. Creators and players alike may rest easy knowing their game is secure.
Games to Play on Immutable X
There are several games you can play on Immutable X. Below are some of them you can start with.
The strategic card game Gods Unchained has over 450,000 registered users. The former director of Magic, the Gathering’s card game, is working on it. The game’s fantasy setting adds to its allure, as does the requirement that players construct card decks that employ many strategies. The GODS token fuels the operations of Gods Unchained.
Guild of Guardians
To succeed in the fantasy action RPG Guild of Guardians (GOG), players must assemble a party of heroes to take on the perils of the dungeon and claim their prizes. More than $24 million in NFTs have been purchased, and the game has a player base of over 300,000. Moreover, it has formed alliances with prominent game firms The Sandbox and Ubisoft. The release of Guild of Guardians is planned for 2023.
Illuvium (ILV) is a play-to-earn take on the classic role-playing game adventure genre with AAA production values. Throughout the game, the Illuvials—the ultra-rare creatures at the game’s core—play a pivotal role in the magical environment in which they are found. One of the most intriguing projects in the ecosystem, Illuvium combines action gameplay with classic role-playing game collection games.
Is Immutable X the Future of Web3 Games?
In a well-defined field, Immutable X has a compelling application. The GameFi market is expanding rapidly inside the blockchain sector and is poised to receive even more focus if scalability for Ethereum becomes available. Immutable X is technologically sound since it uses StarkWare, a well-known layer-2 scaling solution for Ethereum. The long list of respected partner blockchain projects is proof of this.
Despite this, IMX has lost more than 90% of its worth since its all-time high, and it may lose even more ground before the bear market ends in 2023. Therefore, buyers should not count on immediate profits but may want to monitor the protocol’s progress over the medium term.
However, according to the projections of many crypto gaming platforms, IMX will be booming in 2026. In 2026, the IMX is projected to hit a new record high. The predicted value of the cryptocurrency in 2026 is $4.16, with a low of $3.70 and a high of $3.88.
Immutable X is one of the pioneers, or at least the survivors, in the growing blockchain gaming industry. And because of its prominent position among blockchain platforms, it has a clearer view of what lies ahead. With its previous records and upcoming predictions, it might just turn out to be the future of web3 gaming.