Immutable, the startup behind the Ethereum-based trading card game Gods Unchained, has launched the first phase of its Layer 2 scaling protocol, dubbed Immutable X.
Immutable X aims to solve one of the primary economic issues facing non-fungible tokens (NFTs): the high cost of minting and transacting on the Ethereum network. NFTs are, put simply, blockchain-based digital certificates tied to artworks, gaming items and other unique types of digital assets, and their growth in popularity has shined a light on the spending required to actually make use of them.
To be sure, the high cost of transacting on Ethereum isn’t limited to NFTs. As of April 7, the average transaction fee is $20.19, according to data collected by The Block, with more complicated transactions requiring even more gas to compute. What’s more, other startups in the Ethereum ecosystem are also working on Layer 2 scaling solutions.
Immutable is betting that its technology approach — giving users two distinct sca
