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Immutable, an infrastrucure provider and platform for building cryptocurrency games on Ethereum's L2s, shares the estimations of the effects of the trading volume rally. It started from the release of zkEVM-powered Supernet in March 2023.
Immutable (IMX) total trading volume surges from $250 million to $2.5 billion in four months, here's why
Since introducing Immutable zkEVM, a Polygon-based Supernet, the aggregated operations volume of gaming products of Immutable spiked by 10x. As per the estimations of the protocol's team, in recent weeks, it reached $2.5 billion for the fist time in its history.
Immutable is officially entering a period of exponential growth.
— Immutable (@Immutable) July 26, 2023
Since introducing Immutable zkEVM as the new home for gaming in March, the pipeline of games has 10x’d to more than $2.5B in estimated future volume, and this is just the beginning.
Note: These are internal… pic.twitter.com/ToKK8EKOE4
As such, a 900% rally for this metric took only four months. The mentioned announcement allowed Immutable to control a significant share of the thriving Web3 gaming segment:
At $2.5B, if our estimate turns out to be accurate, this will be a significant portion of the web3 gaming market as a whole. Immutable has always believed that gaming will be how the mainstream breaks into web3.
At the same time, the Immutable team stressed that the total size of the gaming marketing segment by 2025 might reach $300 billion. Having said that, the product is still in its infancy when it comes to market adoption.
As covered by U.Today previously, in March 2023, the two partners introduced Immutable zkEVM, a high performance EVM-compatible ZK-rollup fueled by Polygon (MATIC) tech and integrated seamlessly with the Immutable (IMX) platform.
After this announcement, the IMX price almost doubled in six days despite an aggressive bearish market.
Polygon zkEVM: What does it mean for Web3?
Polygon (MATIC) co-creator Sandeep Nailwal is impressed by the progress accomplished by Immutable and shows much optimism about the prospects of the Polygon-Immutable collaboration:
IMX entered exponential growth trajectory since they added Polygon zkEVM Supernet in their arsenal of amazing products. Gaming will have its primetime in the industry sooner or later! Excited for Polygon+IMX ecosystem when it happens.
Polygon zkEVM is the first viable realization of zkEVM, an EVM-equivalent rollup designed to scale Ethereum (ETH) in privacy-focused way. It advances the level of privacy of Ethereum (ETH) transactions and makes it more cost efficient.
Nailwal is sure that Polygon zkEVM can verify a transaction for just $0.000058. At the same time, the Polygon zkEVM solution only spends 2.5 minutes to validate a batch of 250-500 transactions of Ethereum-based ERC-20 tokens.