Funding Highlights
Immutable, the layer-two NFT protocol riding high on the Ethereum wave, bagged a whopping $60 million in its Series B funding round. Talk about a cash splash! This was no small pocket change, as corporate giants such as Alameda Research and VaynerFund joined in on the fun. The big cheeses behind this venture included gaming investment powerhouse Bitkraft Ventures and the savvy minds at King River Capital.
Where Will the Money Go?
So, what’s the plan with all this green? Immutable aims to ramp up its global engineering and sales teams like a rock band on tour. They’re also looking towards expanding partnerships and scaling their NFT gaming offerings. After all, if you’re going to be in the NFT business, you might as well do it REALLY well.
The Tech Behind the Magic
At the heart of Immutable’s operation is the highly advanced Immutable X. This NFT-centric blockchain solution is nothing short of a technological marvel. With its ability to process a staggering 9,000 transactions per second, near-instant transactions, and—get this—zero gas fees, it’s like a gas station that never charges you for filling up. Plus, it’s got that sweet carbon neutrality claim to keep Mother Earth smiling!
Carbon Footprint? Not Here!
Immutable isn’t just about putting pixels on a blockchain; it cares about the planet too. Thanks to its innovative use of zero-knowledge proofs—no, that’s not some magician’s trick but rather a way to anonymize transactions—the protocol minimizes its carbon footprint significantly. For context, minting 8 million cards on traditional Ethereum would consume nearly 490 million kWh, while Immutable X does it using just about 1,030 kWh. That’s a staggering 475,000 times less energy!
Robbie Ferguson’s Vision
According to Immutable’s co-founder Robbie Ferguson, the current NFT trading scene could use a hefty makeover. He argues, “It’s expensive, illiquid, and existing solutions compromise the security and user base of Ethereum.” His vision? He wants developers to create NFT games and marketplaces without having to wrestle with blockchain coding complexities. APIs should be as easy to use as your grandma’s favorite cookie recipe, right?
