Up for discussion today is another blockchain Immutable X. If you weren’t able to check out my most recent article on Avalanche or Okereke Inno’s most recent article on Enjin, make sure to give those a read as well! In this article, we will cover:
- The basics of Immutable X
- Some of the games launched and in development
- Tools connected with the Immutable X ecosystem
What Is Immutable X?
Immutable X is another layer-2 solution for the Ethereum blockchain, which again is used to solve the problem of gas fees and transaction speeds. It is currently sitting at a market cap of $188 million USD which ranks it as the 143rd largest blockchain at the time of writing this. The Immutable X chain focuses on NFTs and their use cases. On its platform, you can create ERC-721 and ERC-20 tokens with zero gas cost, and it advertises the same security as Ethereum due to it being a layer-2 solution.
I talk about this a lot, but having zero gas cost is an important factor when it comes to blockchain gaming. Many games rely on users having to make many transactions a day, and those small fees add up quickly when gas is involved.
Immutable X also advertises speeds of up to 9,000 transactions per second (TPS), which is about twice as much as Avalanche advertises. Finally, all NFTs minted on Immutable X are carbon neutral as they offset their carbon footprint through partnerships with Trace and Cool Effect. If you want to read up a little more on the technology behind Immutable X, they have written a great blog post about it here.
The Immutable X blockchain uses the $IMX token, which has a total supply of two billion. This token is used for governance, transaction fees, and staking on the Immutable X chain. I want to point out that the transaction fees mentioned are not the same as gas fees. These transaction fees are from when a transaction occurs on the chain. This would be similar to how Atomic Hub on the WAX blockchain takes a 4% cut of NFTs sold on their site. You are also able to earn IMX tokens through trading your NFTs.
What Games Does Immutable X Have?
There are a number of games using Immutable X that are in beta or soon to be launched. Some of the bigger names are Gods Unchained, Illuvium, Guild of Guardians, and Ember Sword. On that list, I am particularly excited for Guild of Guardians, which will be a mobile RPG and looks fantastic.
Gods Unchained and Illuvium are both currently in beta, so you can give those a shot already if you are interested. The list of games is still small for Immutable X, but as they continue to launch successful games, they should get more exposure and attract a broader audience of developers.
Another interesting announcement is the gaming website Kongregate is partnering with Immutable X. Kongregate is a web-based gaming platform that hosts thousands of Web2 games, but it’s seeking to expand into Web3. This is exciting because it’s a known entity for browser-based games, and I myself have spent many, many hours playing the plethora of different games they have to offer. This is a great step forward for blockchain gaming to become more mainstream and draw new gamers into crypto.
Immutable X Tools
Immutable X does have its own marketplace where you can buy and sell your game assets. This is valuable because games don’t have to build their own. Interestingly enough, GameStop has partnered with Immutable X to build their own NFT marketplace as well with a $100 million development fund. Yet another large entity in gaming, partnering with a blockchain to join the space. It is unclear whether GameStop will build upon Immutable X’s own marketplace, or if it is entirely separate.
To use the Immutable X marketplace, you can connect with either a Magic wallet or a Metamask wallet. Again, Metamask proves to be an important wallet for gamers to have as it connects to so many chains.
Another tool on the Immutable X chain is Snoopy.tools, which gives users more data on the sales of Immutable X assets. This is a particularly useful tool to track NFT sales, as well as total holders, trading volume, etc.
Immutable X has a lot to offer for developers who want the security of Ethereum, but the low cost and speed of other blockchains. They have a number of quality games in beta or launching soon that I am looking forward to testing. They also have been partnering with known entities in the gaming space, including Kongregate and GameStop. All in all, I am looking forward to seeing what games are developed through it in the future and seeing its future success.