IMVU is integrating Immutable X on its platform and the impact will be huge
Popular simulation game IMVU is similar to the way The Sims simulates, well, life – players can design, interact with and inhabit various virtual world. What sets it apart from Second Life or the Sims is the fact that the game is set on a blockchain. It’s not a small game either – it boasts about 200k active creators and 1million daily active players.
Now the game is making a switch to a new blockchain protocol – Immutable X. This Ethereum-based protocol is NFT-centric and is supposed to enable roughly 9000 transaction per second – and near-instantly. It’s also supposed to be scalable and largely eliminate the gas fees that plague Ethereum’s main NFT protocols. Both ERC-20 and ERC-721 standards are supported in the format, covering two of the most popular NFT standards out there.
Immutable X as a standard
Immutable X just completed their B series funding round – they are planning to expand after the success of NFT game Gods Unchained. Beyond that, they are also wanting to up their environmental profile – it’s no secret that crypto can be hard on the environment with carbon emissions and energy consumption increasing steadily. To offset this, they are implementing so called zero-knowledge proofs, a fast and effective way of confirming a transaction is valid and recorded, as well as offsetting carbon credits.
All of this no doubt helped make them more attractive to IMVU, and their new partnership will enable players to take part in a new kind of activity – well, to be more precise, to build their universes, create their avatars and socialize using the games fiat-convertible VCOIN. As a so-called stablecoin, it lacks much of the risk associated with the more… trend-dependent memecoins out there – and it also offers users the knowledge that the crypto they are dealing in does its best to stay carbon-neutral.
Brand new partnership
Here’s what founder of Immutable X, Robbie Ferguson had to say about the partnership:
“We are thrilled at the partnership with IMVU. With Immutable X’s technology, we are offering scalability to every user in IMVU metaverse and allowing them to trade their NFTs seamlessly on Ethereum without compromising on the security of their assets.”
This is a new step in the social metaverse that IMVU aims to be – the new partnership will promote ownership-based creation and distribution in the gaming ecosystem, all, of course, featuring various NFTs. The fact that Immutable X offers gasless transactions makes it all the sweeter – those who deal on Ethereum are well-aware of the pain of gas costs and explosive transaction fees. Immutable X offers a real alternative, and one that could solve Ethereum’s biggest problem for the users of IMVU’s NFT game.
Potential impact on gaming and esports
The new standard and increased ease of volume of transactions opens great avenues to any developer seeking to add NFTs as a unique tradable value offer in their games. Be it for fiat, crypto or direct trade value, unique user generated content can soon become part of gaming in a big way.
Imagine an Fantasy MMO where your uniquely crafted assets, items and art are sold at real monetary value. Or an FPS where apart from the developer released skins, you have a user marketplace sprawling with unique created content that is one of a kind and highly collectable, at almost no transaction fee.
We are happy blockchain technologies and NFTs are taking this turn opening the gate to new and unique possibilities.