Ethereum-based NFT platform Rarible integrates Immutable X, a gaming-focused Layer 2 blockchain, to broaden gaming NFT offerings and rewards for users.
Ethereum-based NFT marketplace Rarible has integrated Immutable X into its platform. Immutable X is a new gaming-focused Layer 2 platform that would make NFT gaming possible on the Ethereum blockchain.
Blockchain gaming is anticipated to become Web3’s game changer, with gamers spending billions of dollars yearly on in-game items. What’s worth noting is that these people spend on things they don’t truly own since these in-game items don’t give any real-world value in return.
With Rarible and Immutable’s collaboration, gamers would have a chance to own the assets they purchased or earned. Moreover, gamers can sell these assets across marketplaces, trade them for other assets, or store them in a personal [virtual] wallet. All these are what NFT gaming brings to the table.
Immutable X Makes Earning Rewards Seamless
However, inasmuch as NFT gaming is an excellent idea, tremendous obstacles stood in the way of its full implementation. We’re talking about exorbitant gas fees, lengthy transaction times, and a general lack of infrastructure.
Gas fees are inevitable when using blockchain technology because networks typically have limited computing power; thus, they can’t process every transaction someone wants to send. Gas fees create a cost for transactions, which means only the transactions of those willing to pay them are processed. You can liken gas fees to a paid parking garage—only those who must park go there and pay the parking cost. Otherwise, those unwilling to pay should go park elsewhere.
The gas fees are useful, in a way, and necessary for the network. However, not many people like paying them because they can be costly. Depending on the blockchain and platform used, gas fees can range from $10 to $1,000.
Thanks to Rarible and Immutable X’s newly formed partnership, there is finally a solution that works. With Immutable X’s integration into Rarible’s marketplace, NFT gaming on Ethereum is now possible, minus the high gas fees.
As mentioned earlier, Immutable X is a Layer 2 blockchain operating on Ethereum’s Layer 1. For better visualization, think of Ethereum as a main road and Immutable X as a fork on the road, an offshoot of the main road, so to speak.
Immutable X works with Zero Knowledge rollups throughout its operation, making blockchain transactions more efficient. How? The ZK rollups bunch transactions into a bigger batch before submitting them for processing. Thus, ZK rollups can process more transactions in less time.
And while other Layer 2s use the ZK technology, Immutable X is set apart because it is the only Layer 2 platform purposely created for gaming. After all, Immutable X was built by Immutable, the team behind one of the most popular blockchain games, “Gods Unchained.” Their wealth of experience allowed them to create an efficient platform that drew in famous partners. Some gaming projects built on Immutable X include:
- Gods Unchained
- Guild of Guardians
- Planet Quest
- Immortal Game
- Book Games
“With the growing number of partners building on Immutable X, new projects can leverage this ecosystem by using Immutable X’s global orderbook,” the Layer 2 chain’s team said. “This will enable their users to access world-class assets and not worry about liquidity.”
Immutable X’s mission is to bring digital ownership to the public since they believe everyone has the right to own their assets fully. Hence, they have developed a vertically-integrated gaming platform to realize their mission. However, what’s even better is trading Immutable X NFTs on Rarible would make gamers eligible for Trading Rewards, which is Immutable’s program rewarding traders with $IMX.
Earning $IMX from Rarible and Immutable X’s Collab
Since July, Immutable X has been rewarding its traders with up to 100,000 $IMX daily. With its integration into Rarible, the latter’s users can receive double $IMX rewards for their trades, meaning all trades will count twice towards users’ Trading Reward eligibility.
Nevertheless, this spotlight program will be live for a limited time, so users are encouraged to take advantage of the program window. The program is live from 12:00 AM, September 14 to 11:59 PM, September 21, UTC. And here’s how users can earn $IMX:
- Connect Ethereum wallet to Immutable X on Rarible (make sure to switch the network when prompted)
- Buy or sell anywhere from $10 and $10,000 worth of volume in a collection with royalties on the Immutable X protocol
- Receive the reward tokens straight into the wallet at the end of the week
Immutable X has a trading rewards page on their website where a few more conditions regarding the rewards program are provided to prevent wash trading. There is also a breakdown of how they calculate rewards for transparency. On the part of Rarible, they are offering 0% trading fees until September 18 just for the spotlight program.
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