There’s now fewer liquid Bitcoin to purchase than at 2018’s ‘generational lows’
There’s now fewer liquid Bitcoin to purchase than at 2018’s ‘generational lows’
NFL star Tom Brady wants part of his salary in Solana, Ethereum, or Bitcoin
NFL star Tom Brady wants part of his salary in Solana, Ethereum, or Bitcoin
What Safe Haven? Bitcoin Behaves Like Risk-Asset During Evergrande Mayhem
What Safe Haven? Bitcoin Behaves Like Risk-Asset During Evergrande Mayhem
Bitfinex launches the first L2 bridge from CeFi to DeFi
Bitfinex launches the first L2 bridge from CeFi to DeFi
Twitter Integrates Bitcoin And Lightning In Tips Feature Update
Twitter Integrates Bitcoin And Lightning In Tips Feature Update
Bitcoin hodlers are about to spark a run to new BTC price highs, data suggests
Bitcoin hodlers are about to spark a run to new BTC price highs, data suggests
eToro Sets Eyes on Defi Market, Launches 11 Defi Assets Based Investment Portfolio
eToro Sets Eyes on Defi Market, Launches 11 Defi Assets Based Investment Portfolio
Philadelphia 76ers to launch NFTs after signing on Crypto.com as sponsors
Philadelphia 76ers to launch NFTs after signing on Crypto.com as sponsors
New decentralized stablecoin in China targets international trade
New decentralized stablecoin in China targets international trade
Axie Infinity (AXS) gains over 45%, but ‘death cross’ fears persist
Axie Infinity (AXS) gains over 45%, but ‘death cross’ fears persist
Cardano ($ADA) Reclaims Third Spot With 13% Price Jump, Here’s Why it Can Surge Further
Cardano ($ADA) Reclaims Third Spot With 13% Price Jump, Here’s Why it Can Surge Further
Just-in: Coinbase to expand legal and compliance team Amid regulatory crackdown
Just-in: Coinbase to expand legal and compliance team Amid regulatory crackdown
Bitcoin.org website gets hacked by ‘double your money’ scammers
Bitcoin.org website gets hacked by ‘double your money’ scammers
Too ‘grande’ to fail — Bitcoin price stumbles at $44K as China plans for Evergrande’s implosion
Too ‘grande’ to fail — Bitcoin price stumbles at $44K as China plans for Evergrande’s implosion
Def-2-Earn NFT Game, Knight War The Holy Trio Announces Dual IDO gearing a massive public launch
Def-2-Earn NFT Game, Knight War The Holy Trio Announces Dual IDO gearing a massive public launch
UAE regulators approve crypto trading in Dubai free zone
UAE regulators approve crypto trading in Dubai free zone
XRP Lawsuit: Settlement speculations rise upon SEC request for an extension to file seal
XRP Lawsuit: Settlement speculations rise upon SEC request for an extension to file seal
Roughly 1 in 5 U.S. adults heard about Kim Kardashian’s promotion of “Ethereum Max”
Roughly 1 in 5 U.S. adults heard about Kim Kardashian’s promotion of “Ethereum Max”
 

Immutable raises $60M for its carbon-conscious NFT platformVisit Website

Immutable, a layer-two nonfungible token (NFT) protocol built on the Ethereum blockchain, has announced a $60 million Series B funding raise from a multitude of corporate venture firms, including Sam Bankman-Fried’s Alameda Research and Gary Vaynerchuk’s VaynerFund.

The funding round was co-led by gaming investment platform Bitkraft Ventures and venture firm King River Capital. The new capital will be allocated to supporting Immutable’s growing ambitions, including expanding its global engineering and sales departments, fostering industry partnerships and scaling the network’s native NFT gaming projects.

Through its scaling solution, Immutable X, the protocol provides a foundational infrastructure for the global business market to distribute and exchange NFT digital assets on the Ethereum ecosystem.

In 2019, the platform was responsible for supporting the launch of the blockchain-based trading card game Gods Unchained. The native ERC-20 token GODS acts as the medium of exchange within the game's ecosystem.

Immutable X is an NFT-dedicated blockchain protocol that claims to allow 9,000 transactions per second for ERC-20 and ERC-721 tokens, near-instant transactions, zero gas fees and greater scaling capabilities through the utilization of StarkWare’s zk-Rollup, all while sustaining carbon neutrality.

Related: Ethereum layer-twos reportedly processing more transactions than Bitcoin

Immutable co-founder Robbie Ferguson believes that the NFT trading experience has the potential to improve from the state of its current offering:

“It’s expensive, illiquid, and the only existing scaling solutions compromise on the most important thing — the security and user-base of Ethereum. We want businesses to create their game, marketplace, or NFT application within hours via APIs, with a mainstream user experience. No blockchain programming required.”

Utilizing zero-knowledge proofs — a method of anonymizing transactions — the protocol offsets its carbon footprint by bulking mint and trading activity into a compressed validity proof that is then reuploaded to the original blockchain. This procedure requires less gas — and in turn, less energy consumption.

With a Twitter thread, the protocol also added context to the data: “To put this [the carbon figure of 844kg CO2] in perspective, a one-way flight from LAX to NYC is 807 kWh = 662 kg CO2.”

By purchasing carbon credits — an industry certification permitting carbon emission up to a certain limit — the protocol is working on its environmental initiative by pledging to neutralize the carbon output of any NFT asset, marketplace or game built upon its platform.

Visit Website
0 Comment