The two companies also announced $100 million in IMX tokens funding from Immutable X to support NFT creators from game studios, “Web3” and metaverse games.

The NFT market reached nearly $25 billion in sales in 2021, compared to just $94.9 million the previous year, according to DappRadar data.

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Many people see NFT as the future of ownership in the internet world and buy NFT as a vote of confidence in developing the “Web3” or metaverse. NFT already sells art, sports kits, fashion, music, and even… emotions. In the middle of last year, there was a lot of talk about 26-year-old Polish influencer Martini, who sold her “DNA-based digital love” for 1 million zlotys.

Sydney-based firm Immutable raised $60 million in its latest funding round led by BITKRAFT Venture and King Rival Capital in September. Immutable is the developer of the NFT Gods Unchained and Guild of Guardians games. Immutable X will also become a Level 2 partner and platform for GameStop.

Immutable has created Immutable X, a layer 2 scalability protocol for NFT on Ethereum, the second largest blockchain network. This means that it enables transactions at a much faster pace compared to Ethereum, requires less computing power, and has a lower environmental impact.

Source: Reuters