This announcement comes with excitement as NFTs will now be traded gas free and still have the Ethereum network’s security.
According to Opensea, this technology will provide instant trade confirmation, increased scalability, and zero gas fees.
Immutable X is coming to OpenSea! We're excited to announce OpenSea will soon support the trading of NFTs on their gas-free layer-2 protocol, built directly on Ethereum. #Immutable #OpenSea pic.twitter.com/B3Y5j7Lfue— OpenSea (@opensea) March 31, 2021
Immutable X is an Australian company that claims to be the first layer 2 for NFTs on Ethereum.
Quite frankly, Immutable X is the most exciting scalability solution. They claim they’re able to make at least 9,000 transactions per second, all with zero gas fees and instant trade confirmation. Also, with these fast transactions, they were able to figure out how to stay on-chain, keeping Eth’s security and not having to move to a sidechain like Matic.
Unlike other scalability solutions, Immutable X is not on another blockchain or sidechain but instead is on the Eth blockchain. By staying on the Eth blockchain, Immutable X is not compromising the security that other blockchains or sidechains have. They are also staying on the most popular blockchain that we have in the crypto space. All of this can lead to mass adoption because of its solutions in scaling the Ethereum blockchain.
The best part of Immutable X is that we can finally shut those stupid ass people who complain about NFT’s carbon footprint because Immutable X is carbon neutral.
The annoying thing of this past month is when you are talking to a newcomer on NFTs, and they bring up “WhAt AbOuT ThE CaRbOn FooTPriNT? DoN’T YoU CaRE aBoUt tHe EnVirOnMenT?” But now we can bitch slap them across the face with immutable x and their carbon-neutral plan.
They are striving to become one of the first carbon-neutral decentralized protocols. They plan on doing this by firstly taking up less of the network per NFT mint or trade. This means less energy is needed for a transaction and less carbon is needed. Secondly, they are planning on buying carbon credits to offset each transaction made on Immutable X.
A thread on how Immutable X will be the first carbon-neutral scaling solution for NFTs on Ethereum.👇— Immutable (@Immutable) March 31, 2021
1/ Any NFT that is created or traded on Immutable X is 100% carbon neutral.
The most significant selling point of Immutable X is its zero gas fees and security. We are excited to see where this project goes because this could be a massive step for the NFT space. With zero gas fees, the sky’s the limit. For example, more artists would be able to mint NFTs, and new people would join the space because they would not be disincentivized by the high prices. It would also be fantastic for NFT buyers because we could buy NFTs that we enjoy without having the high gas fees be a problem.
Immutable X is expected to launch anytime now, and we could not be happier to see what comes.