OKX is a crypto platform that focuses on building decentralized, scalable products for game developers. This partnership will offer a layer-2 scaling solution for all of the NFTs and immutable X projects OKX has been working on. The expected benefits this brings to the developer community are higher transaction throughput, lower fees per operation, faster confirmation times and greater scalability overall.
Immutable X, Ethereum’s Layer 2 scaling solution for non-fungible tokens (NFTs), has announced a partnership with OKX, a cryptocurrency exchange and ecosystem.
An update shared by OKX with CI mentioned that the partnership would “accelerate OKX’s strategy to make MetaX the DeFi platform of choice for retail investors and professionals.”.
OKX’s plan to integrate Immutable X with the MetaX portal would allow it to “significantly expand its Metaverse gaming assets beyond Gods Unchained, Guild of Guardians, Illuvium, Ember Sword, Habbo and Kongregate.”.
Users of OKX can interact seamlessly with Layer 2 protocols while remaining within the … ecosystem of decentralized products.
Immutable X was built by Immutable “in partnership with StarkWare, the leading ZK-rollup expert.”
As a result of Immutable’s extensive knowledge in NFTs and StarkWare’s technology, the Layer 2 protocol is able “to offer all of its integrated ecosystems, including millions of OKX users the ability to trade their Immutable X-powered NFTs with zero gas fees, 100% carbon neutrality, and … scalability on the MetaX NFT Marketplace.”
Immutable X NFTs will also “directly inherit Ethereum’s battle-tested security.”This partnership will “enable projects and merchants to reach a broader audience within the OKX and Layer 2 ecosystems by selling Immutable X NFTs and interacting with a wide range of OKX solutions.”
Among the preferred solutions, Immutable X will join Ethereum Layer 1, BNB Chain, OEC Chain, and Polygon on the MetaX NFT marketplace.
Jay Hao, CEO of OKX, said:
“OKX is on a mission to bring crypto into the mainstream. Our cooperation with ImmutableX brings a zero-gas fee and carbon-friendly solution to all of our customers and partners on our DeFi portal, MetaX. We believe this partnership will allow all of our users to level up with even better access to Web3, metaverse gaming and the decentralized economy.”
Robbie Ferguson, co-founder of Immutable, added:
“Immutable is thrilled to power MetaX, OKX’s DeFi portal, and to support one of the largest crypto exchanges in the world. All OKX users will have access to unparalleled scale, liquidity, and security to trade and create L2 NFTs. Our partnership will empower people to create and own their wealth in the most innovative, decentralized and secure ways possible.”
OKX (previously OKEx) has been reported to be a leading cryptocurrency exchange. The company also boasts of having over 20 million customers in more than 180 countries, as well as providing a “fast, secure, and efficient platform” for retail as well as institutional clients.
The MetaX platform is more than just a trading platform for OKX; it’s a decentralized ecosystem for people interested in Web 3.0, metaverse gaming, and new financial technologies (NFTs).
Described as a Layer 2 scaling solution, Immutable X allows gas-free mining and trading on NFTs without sacrificing Ethereum’s security, which is the most widely used blockchain for NFTs worldwide.
StarkWare’s technology allows for immediate trade confirmation, massive scalability (up to 9,000 transactions per second), and an amazing user experience.
Immutable X “powered some of the largest NFT plays across consumer applications (TikTok), DeFi (SuperFarm), and gaming (GameStop, Habbo, Highrise), via its integrations with OpenSea and Mintable.”
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