cryptoknowmics.com
Immutable, the company behind Ethereum's Immutable X layer-2 scaling solution, has announced the creation of a $500 million fund to encourage more developers to use the platform. In collaboration with various VC firms and ecosystem allies, the Immutable Ventures fund will invest in and provide grants to companies that build on Immutable X, utilizing a mix of IMX tokens and cash. The $500 million venture, comprising assets from Animoca Brands, BITKRAFT Ventures, GameStop, Arrington Capital, King River Capital, AirTree, and Double Peak, was announced today by the company. Co-founder and President Robbie Ferguson said,
"Immutable Ventures will target NFT projects that are committed to our growing digital ecosystem with the understanding that we have just begun to scratch the surface of the massive potential for this category,"
https://twitter.com/Immutable/status/1537768342739890176
Immutable X is a Scaling Solution
Immutable X is a scaling solution that allows for faster, cheaper, and more energy-efficient transactions than Ethereum's mainnet can manage. The platform processes transactions on its chain, then bundle them and commits them to the Ethereum blockchain using StarkWare's StarkEx rollup technology. This scaling solution is well-suited to applications that require many transactions, including low-value purchases, such as crypto-powered games and NFT initiatives. Immutable X is also used by partners such as TikTok, VeVe, entrepreneur and NFT inventor Gary Vaynerchuk, and esports behemoth ESL. OpenSea, a leading NFT marketplace, stated plans to incorporate Immutable X in March 2021 but has yet to do so.