- December 14, 2021
- Posted by: admin
- Category: BitCoin, Blockchain, Cryptocurrency, Investments
By integrating Immutable X’s technology into its marketplace, Mintable hopes to tackle gas and scaling limitations for NFT traders.
Mintable marketplace announced its partnership with Immutable X, a StarkWare-based layer-two solution for nonfungible tokens (NFTs) on Ethereum, to make over 24 million NFTs on Immutable X available for sale on Mintable. This integration will enable users to deposit ETH and ERC-20 tokens with instant confirmation and no gas fees.
According to Mintable’s Twitter thread, Mintable and Immutable X share a vision to scale NFT marketplaces by offering access to NFTs to the masses.
1/We're thrilled to partner up with @Immutable X – the 1st & leading Layer 2 for #NFTs on Ethereum! All NFTs on Immutable X are now available for trade on https://t.co/NJ1lSPqL1Q!
✅ Zero gas fees✅Instant secure trades✅100% carbon neutral.
Details: https://t.co/TQh7Cggq2z
— Mintable (@mintable_app) December 13, 2021
Although zero gas fees may sound appealing, the size restriction for gasless files is only 300 MB. Anything larger than that will incur gas fees.
Mintable’s blog statement also claimed that neither decentralization nor user custody would be compromised. Since assets are secured on the Ethereum blockchain, the project believes that users will be able to securely manage their NFTtrading experience.
Related: Immutable raises $60M for its carbon conscious NFT platform
According to Immutable X, the project ensures that any NFT activity on its protocol is completely carbon neutral. This doesn’t mean it is carbon emission-free but that it is purchasing carbon credits to offset any gas consumed on Ethereum.
Robbie Ferguson, co-founder and president at Immutable, said about the partnership:
“We want to be everywhere NFT fans are and Mintable’s dedication to break new ground in empowering audiences with smart contracts is mind blowing. We are excited to welcome the communities and work with Mintable app to grow NFT marketplaces.”
Mintable also operates a decentralized autonomous organization (DAO) and is the first DAO to run on NFTs instead of ERC-20 tokens. The Mintable NFT DAO relies on MINT-voting NFTs. MINT holders can sell their voting NFTs on open marketplaces.
