• First Layer 2 NFT Agreement, Immutable Receives $60 Million Investment to Advance Its Carbon Neutral NFT Project

  • Incredible things are happening on the blockchain, and NFTs are shaking up the way we engage with art and digital media.NFTs, or non-fungible tokens, offer users a way to express ownership of anything from art, music, video, meta-gaming projects, and collectible trading cards.

    NFTs aren’t going away anytime soon, with more sales and purchases happening in the last month alone than in all of 2020. Celebrities, sports legends, well-known artists and musicians have all joined the NFT craze, and there’s a protocol in place to make the field better for our planet, too.

    Immutable is a layer 2 protocol that fits neatly into a layer 1 chain like Ether. Because of its infrastructure, NFT is cheaper to cast, faster, and more energy efficient. Collectors can move their NFTs to a Layer 1 chain at any time.

    Blockchain is seeing significant investment from venture capital firms and financial institutions, and in the latest demonstration of its popularity, Immutable has raised a whopping $60 million for its Series B funding round.

    Carbon neutral, zero gas fees for miners

    Immutable is the first-ever Layer-2 protocol for NFTs, promising creators zero gas fees, instant transactions, and scalability for games, apps, and their NFT marketplaces.

    Immutable X is an NFT exchange that allows transactions to be made via the blockchain. It is a decentralized chain that allows users to set their own transaction fees for ERC20 and ERC-721 tokens. It promises massive scalability of up to 9,000+ TPS and gets the benefit of being secured by Ether, a best of both worlds architecture.

    Minters can fast track their products with Immutable X Mint, a secure way to create and distribute assets at huge scale for single and bulk minting with no gas costs.

    This noteworthy round was led by BITKRAFT Ventures and King River Capital, with Prosus Ventures, Galaxy Interactive, Fabric Ventures, Alameda Research, AirTree Ventures Reinventure, Apex Capital and VaynerFund participated. The money will help develop this amazing deal and expand collaboration with gaming partners, as well as enhance Immutable’s own popular NFT games, Gods Unchained and Guild of Guardians.

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