beincrypto.com
Immutable has launched the first gas-free layer 2 solutions for NFTs on the Ethereum blockchain. With this service, Immutable aims to lower the NFT market’s entry barriers.
Non-fungible tokens are making all the waves in the industry with the massive growth experienced recently. It appears there’s still more to come. Resources geared towards the sector’s growth keep surfacing. The latest is a gas-free layer-2 solution for NFTs, Immutable X, developed by Immutable.
Immutable’s solution targets one of the biggest barriers to mainstream NFT adoption–high gas fees on the Ethereum blockchain. Ethereum houses most decentralized applications and NFT platforms.
As a result, NFT enthusiasts have suffered from the high gas fees on Ethereum. Immutable X Alpha introduces a solution that enables minting and trading of NFTs without incurring gas fees. Immutable Founder Robbie Ferguson said:
“With today’s Immutable X Alpha release, any NFT can now be traded, earned, shared, gamed, and collected completely gas-free on Ethereum.”
Self-custody and improved user experience in NFTs
Immutable X also aims to enhance user experience and security for developers. With Ethereum at the center stage of NFT development, developers had limited options. As a result, they had to deal with poor security and poor scalability. Ferguson stated:
“Before Immutable X, developers had few alternatives. Move to another blockchain that provides more scalability, but a fraction of Ethereum’s ecosystem and security, or use a side-chain. Neither are viable options for developers that want to prioritize revenue security and self-custody.”
Users will also enjoy the rare freedom of self-custody for their NFTs. This means that they can trade their NFTs on any marketplace of their choice.
Ferguson elaborated:
“We believe users should be able to trade wherever they want to trade, including marketplaces like Open Sea or Mintable.”
Previously, Immutable has worked with several high-profile NFT projects. Before the release, Immutable announced plans to introduce the first carbon-neutral scaling solution for NFTs on Ethereum. This would extend to any NFT, marketplace, or game built on Immutable X.