In Q1 2023, the Layer 2 sector was growing quickly. The list of the most popular Layer 2 solutions includes Polygon ($MATIC), Arbitrum ($ARB), and Immutable ($IMX) . Immutable X is one of the top performing projects with sustainable user growth.
Immutable X is a protocol for scaling the Ethereum network that allows developers to create fast, scalable and secure applications for NFT and blockchain games. It provides instant confirmation of transactions and near-zero gas charges. With Immutable X, users can easily create and trade NFT without sacrificing the security of their assets.
Works too slowly
The principle of the Layer1 blockchain is that every transaction requires confirmation by all nodes in the network. This is important for security and decentralization, but means that confirmation of each transaction can take some time. This can take too long for applications that require processing large volumes of transactions in a short period of time, such as: in-game transactions, NFT trading, or high-frequency trading.
It's too expensive
As the volume of transactions on the Layer1 (Ethereum) increases, so does the demand for validators. Then users start offering higher fees to induce validators to prioritize processing their transactions. This leads to high transaction prices, which in busy periods can increase to the point where they exceed the cost of the transaction object (i.e., if the transaction cost of transmitting NFT is greater than the NFT mint price).
Therefore, the Ethereum network cannot support a wide range of applications on a massive scale.
Unlimited scalability
Games and applications don't have to worry about growth and too many user transactions.
Better user interface
Transactions are confirmed instantly.
Cheaper transactions
ImmutableX uses a "package”: by this method many transactions combine into a single transaction at the Layer1, the cost of which is spread across all transactions.
Security at the Ethereum level
Since all the Layer2 transactions are grouped and settled at the Layer1l, they retain the same security properties.
EVM compatibility
By building on top of the Ethereum network, applications and assets from the second tier can easily access the first tier and interact with other users and applications.
Immutable, the premier blockchain gaming platform, has teamed up with Polygon Labs to unveil the groundbreaking Immutable zkEVM - an Ethereum gaming chain supercharged by Polygon technology. This exciting announcement was made during the annual Game Developers Conference. Immutable zkEVM promises to revolutionize the gaming experience, boasting EVM compatibility, unbeatable cost efficiency, mind-blowing scale, and rock-solid Ethereum security: Announcement
To support the ecosystem, an IMX service token (ERC-20) was created. It is designed to grow Immutable X by encouraging protocol adoption and trading activity. It also rewards users and developers who contribute to the creation of a scalable ecosystem. Token holders can bid, vote and pay transaction fees with IMX.
IMX Toketomics
Total issue: 2,000,000,000 IMX
Price minimum $0.38 / maximum $9.52
Circulating supply: 914,163,545
Market Cap: $1,022,412,299 (at 100% of circulating coins)
Price at the moment of posting - $1.12
Immutable has recently launched a $500 million developer and venture investment fund aimed at accelerating the adoption of Web3 games and projects. The fund, called Immutable X Ventures, will provide capital, resources, and connections to promising startups and developers building on the Immutable X platform. The fund will also focus on supporting projects that enable greater decentralization, interoperability, and ownership through the use of NFTs and other Web3 technologies. This initiative is part of Immutable's broader mission to build a more decentralized and user-centric internet.
MetaMask Wallet became a partner of the Unity Asset Store "engine". This will allow developers to embed Wallet into their games, allowing users to interact with web3 features within the game itself. The list of Unity partners also includes Immutable X, Algorand, Aptos, Dapper Labs' Flow, Solana, and Tezos. Immutable X is the leading platform for Web 3.0 game developers on Ethereum. GameStop launched NFT Marketplace on Immutable X.
Illuvium is a decentralized game studio and DAO that combines cryptocurrencies with internet gaming. They make NFTs that are uniquely functional, evolving, and have a high production value, and they can be used in a universe of AAA play-to-earn games on the Ethereum blockchain.
Illuvium is an Ethereum Blockchain-based open-world RPG adventure game. Illuvium is a decentralized game studio and DAO that combines cryptocurrencies with internet gaming. They make NFTs that are uniquely functional, evolving, and have a high production value, and they can be used in a universe of AAA play-to-earn games on the Ethereum blockchain. Players of Illuvium get access to 0 gas prices for minting or trading assets, as well as sub-second transaction speeds, all with user-maintained custody, due to its integration with the hyper-scalable immutable-X layer-two solution.
The game puts a whole universe of famous, collectible NFT characters at your fingers, made by some of the world’s most creative artists. There are ultra-rare Illuvials in the game, created using never-before-seen 4D holographic shading methods. Illuvium provides a one-of-a-kind chance for players to gather, trade, combat, and gain uncommon in-game items.
Twitter: https://twitter.com/illuviumio
Website: https://illuvium.io/
“The trading card game that pays to play. Unlike other free-to-play games, Gods Unchained gives you complete ownership over your in-game items. Collect rare cards, build your deck and sell cards to other players.”
Gods Unchained is one of the most popular play-to-earn tactical card games on the blockchain. It has over 450,000 registered players despite only being in beta. Gods Unchained has stood the test of time and is the longest-running, most stable project in the ever-changing NFT industry.
The cards, which are NFTs, are digitally owned by players on Ethereum, and can be traded on marketplaces or used to earn meaningful currencies and items, including the ERC-20 $GODS token, through tournaments, forging cards together, or attending play-to-earn events. In-game items that are earned through playing have ample, thoughtfully planned utility that facilitates sustainability in the Gods Unchained ecosystem. Earned items can be sold on marketplaces such as Immutable X, the layer 2 scaling solution that Gods Unchained is built upon.
Gods Unchained digital assets live on Immutable X. Since migrating to Immutable X in late June 2021, NFT trading volume for Gods unchained is 1.5 times greater than Ethereum mainnet, while consuming 99% less energy to perform those transactions. This has allowed players to enjoy fast, affordable and secure trading at high volume.
Twitter: https://twitter.com/GodsUnchained
Website: https://godsunchained.com/
Ember Sword is a social sandbox MMORPG taking place in a player-driven universe where the adventure finds you. Built by a team of imaginative artists, engineers, and game designers, Ember Sword offers a unique community led and frictionless PVP and PVE player experience, and allows players to have true ownership of digital gaming assets.
In November 2021, Ember Sword officially announced the transition to Immutable X and in June 2022 all existing Ember Sword assets were migrated to the IMX platform. In addition to listing all Ember Sword digital assets as fully-carbon neutral NFTs directly on the Ethereum blockchain, Immutable provides the game with a handful of other benefits, including:
Gas Free Transactions: No more stocking up on MATIC for every event, sale, or transaction.
Unprecedented Speed: Immutable X can process up to 9,000 transactions per second, with confirmation times quicker than you can blink.
Easy onboarding: All Ember Sword NFTs can be purchased with all major credit cards.
Twitter: https://twitter.com/PlayEmberSword
Website: https://embersword.com/
In this Sci-Fi Tower Defense Game, you have the choice to play humans or aliens and defend towers to the end in this live-action strategy. Strategically place your troops, set your traps and defend your towers at all costs to prove you’re the best, all in under 3 minutes per match. With every game you win, you acquire NiFe (in-game resource) and for every skill-based contest you join, it’s “winner takes all”. The competitive PvP matches will challenge you in every way to come up with unique strategies to become the best of the best.
WAGMI Games is a mobile crypto-gaming franchise combining rare high-fidelity graphic games, sustainable in-game economies and vibrant communities to create the first of its kind crypto-gaming experience.
Our PVE rollout will be part of V2 with direct payouts of the WAGMI token to players for conquering levels. Conquer your way through each unique map that’s themed in a futuristic world.
The mission of WAGMI Games is to bridge the gap between traditional and casual gamers and web3 elements. We are focused on simplifying the process of onboarding non-crypto users, and simply educating gamers that through digital asset ownerships (NFTs) they now have the power to trade and sell their assets.
Twitter: https://twitter.com/WagmiGameCo
Website: https://wagmigame.io/
Guild Of Guardians is a multiplayer, fantasy, action RPG where players build their dream team of Guardians and compete in a guild to earn epic rewards.
Play-and-earn mechanics: There will be a deep and sustainable economy within Guild of Guardians where players can play for free and earn both NFTs and tokens. Just like the real world economy, you can choose how you want to specialize or play within the Guild of Guardians Economy.
Twitter: https://twitter.com/GuildOfGuardian
Website: https://www.guildofguardians.com/
Oxyz Origin is a Play&Eam third-person shooter (TPS) game built on immutable X, a L2 for the Ethereum blockchain, that leverages NFT and Blockchain technology to allow players to truly trade, own, govern and with craft game assets.
The adventure started in January of 2022 with the mint of our collection of 7898 unique 3D realistic Avatars, stored as ERC-721 token (NFTs) on the Ethereum Blockchain. These avatars are used to access the various Play&Earn game modes of The OXYAVERSE, the first of which is a Roguelike game that will soon be released and will give our community a foretaste of what is brewing behind the scenes.
Oxya Origin is about developing enthralling games in immersive environments to give users purpose to play. That will be facilitated through the construction of The OXYAVERSE, a community-owned and governed, immersive and empowering space for gamers, creators and traders to have fun, socialize, learn, express themselves and innovate in the virtual landscape while reaping the benefits themselves.
To sum up, Immutable X is a layer 2 scaling solution for the Ethereum network, focusing on enabling fast, scalable, and secure applications for NFTs and blockchain gaming. By offering unlimited scalability, better user interface, cheaper transactions, Ethereum-level security, and EVM compatibility, Immutable X aims to address the limitations of the Ethereum network. The IMX token, an ERC-20 token, supports the ecosystem by encouraging protocol adoption, trading activity, and rewarding users and developers.
Some of the popular Web3 games built on Immutable X include Illuvium, Gods Unchained, Ember Sword, WAGMI Games, Guild of Guardians, and OXYA ORIGIN. These games provide users with unique play-to-earn experiences, NFT ownership, and access to a vibrant community, all powered by the benefits of the Immutable X platform.
