Immutable X proposes to build the ApeCoin metaverse on its network

immutable x apecoin

The Immutable NFT startup has proposed to the ApeCoin DAO to build the Otherside metaverse on the Immutable X network, Ethereum’s layer2. 

Immutable X and its proposal to build ApeCoin’s metaverse on its network

Some of the reasons why Yuga Labs should choose Immutable X as a scaling solution over other blockchains

On the ApeCoin DAO forum, the Immutable NFT startup has apparently released its proposal to build Otherside, the ApeCoin metaverse, on Immutable X, Ethereum’s Layer 2.

Here is the tweet from Robbie Ferguson, CEO of Immutable X, telling his followers about the proposal:

“@immutable has submitted its proposal to the @apecoin DAO. BAYC was born on Ethereum, and it should live here. L2 scaling can offer autonomy, security and scale while staying on the world’s best blockchain”.

In practice, Immutable’s proposal has no integration, mint and asset transfer costs, while a 2% fee is charged for primary and secondary sales. 

Immutable X and GameStop on IMX Grant Program

In addition to its proposal to get Otherside on its network, Immutable X has also recently been mentioned by GameStop, the video game giant, in relation to its IMX Grant program. 

“We are excited to be bringing @Immutable X’s gaming collections to @Gamestop’s future NFT marketplace. We are calling on gaming studios and publishers to apply to the IMX Grant Program”.

Essentially, the $100 million IMX grant program targets builders and creators to power the future of NFT and Web3 games. 

The goal is that Immutable X, a leading Level 2 Ethereum scaling solution, will bring world-class gaming resources to GameStop’s NFT marketplace, offering users 100% gas-free, zero-emission mint and commerce. 

Raising $200m in Series C funding

By early March, Immutable had raised an impressive $200m in Series C funding, bringing its valuation to $2.5bn. 

The plan for this funding is the startup’s global expansion, both for Immutable X and Immutable Gaming Studio. 

The previous month, in February 2022, Immutable X had already signed a partnership agreement with GameStop, with the aim of creating the new NFT marketplace. To carry out this mission, the two had created a $100 million fund. 

The post Immutable X proposes to build the ApeCoin metaverse on its network appeared first on The Cryptonomist.