A Fully Decentrilized Branded Gaming Ecosystem Built on the Immutable X Layer-2 Network
Ownership is vital to games with collectible assets. If you don’t own your collection, the entire value proposition falls apart. This is why digital media has struggled in this space and why games with tangible assets, such as card games, have stood the test of time. But with the advent of NFTs and the exploration of their implications, the conventions about ownership, value, and utility of digital property all change.
So what is an NFT?
An NFT, or non-fungible token, is a crypto token representing a verifiably unique entity that is mutually interchangeable. The first NFT-like token was launched back in 2012 and was built on the Bitcoin blockchain. However, the most common NFT, ERC-721, is built on the Ethereum network.
NFTs became popular with the launch of CryptoKitties back in November 2017. Being a blockchain based game built on Ethereum, CryptoKitties was prone to multiple scalability issues. However, the rarity of owning an NFT captured everyone’s attention. Since then, add-ons and NFTs have found their way into games, digital artworks and collectables.
Why did Eterlast choose Immutable X?
One of the primary issues NFT projects and users are currently facing is the cost of performing transactions on the Ethereum network. With limitations on the number of transactions Ethereum can handle, users on the network have to bid against one another, driving up gas prices to ensure their transactions quickly settle. With the average cost of transferring an NFT averaging $15 at the time of writing, trading volume for NFTs has plummeted.
Immutable X changes this, allowing users to trade their NFTs without paying gas fees using what is known as a Zero-Knowledge (ZK) Rollup. Aside from just the savings in gas fees, this provides you with a variety of benefits, including:
- You maintain self-custody of your NFTs with the same level of security as mainchain Ethereum, something not seen in alternative scaling solutions like Matic and xDai.
- Transactions are instant, and moving back to mainchain Ethereum is trustless and verifiable.
- Unlike other solutions, there is no need for you to own a unique L2 token to buy, sell, send, or receive NFTs.
- You get more interesting and attractive game mechanics and design from Eterlast thanks to off-chain minting (more on that later).
- Immutable X will provide turing-complete general computation in the near future thanks to Cairo, technology developed by their partners over at StarkWare.
- Immutable engine supports over 9000 transactions per second
- Immutable X has created the first carbon-neutral scaling solution for NFTs on Ethereum. Any NFT that is created or traded on Immutable X is 100% carbon neutral.
Immutable X also focuses on improving NFT liquidity to ensure as a buyer you find what you’re looking for, and as a seller you can find someone who wants your NFT. This is done in a couple of ways:
- They’ve created what is known as a “metadata order”, or the ability for buyers to quickly and easily purchase assets (single, or in bulk) based on an NFTs underlying properties (or “metadata”). This is a major advancement over today’s high-friction trading, where users are often forced to sort through thousands of NFTs that differ ever so slightly to find what they’re looking for at the best available price.
- Immutable X offers pooled liquidity, allowing assets to be listed instantly on every exchange that supports Immutable X.
If you’re not familiar with ZK Rollups, why they’re considered the best solution for scaling on Ethereum, and want to learn more, we’d recommend Ethereum founder Vitalik Buterin’s recent guide on Rollups.
Eterlast's Core Mechanics:
From the very beginning, the standard paradigm of most NFT games had become uninteresting, and lacking in utility. Buy a digital asset, own it, and hope it appreciates in value. Some games allow you to buy NFTs and then play with them in a game. While certainly an improvement, we still felt there was more to the experience. There had to be a way to establish an emotional connection between the players and their collections. We aren’t the only ones to see the gap, and the subsequent opportunity in this, but we wanted to provide the most distinctive and original solution: an emotive experience that was consistently intriguing and rewarding throughout the entire process, from discovery all the way to exchange.
Immutable X makes this vital process much easier, by taking away distraction and letting players simply explore and enjoy the experience from the games and experiences built at eterlast. Players are not bombarded by constant GAS fees for every little change to their collection. And transactions happen much faster, so players can stay focused on what they came here to do: Collect, Play, Earn, and Access Experiences.