Immutable X and their pursuit of the crypto gaming market
As we carry on through this crypto winter, there is one corner of the NFT market that is staying warm. One NFT marketplace that is going against the grain and deploying capital at a time when most are digging deep into their pockets and coming up empty. Apparently, no one told Immutable X it was a bear market.
This is an extremely bullish sign for Immutable X and bear markets are often the best time to deploy capital, if you have it. The team at Immutable has built out a stellar Layer 2 solution to gas fees with its ZK Rollup technology. This has positioned Immutable X to become the premiere exchange for play to earn gaming. With big names such as Gary Vaynerchuk’s Book Games token and the popular God’s Unchained already under their belt, Immutable X recently added another feather to their cap with the Illuvium Land Sale.
Enter in Illuvium
Illuvium and Immutable X go together like peanut butter and jelly. The partnership is beneficial to both parties in so many ways. So to see this type of capital deployed at a time like this has me bullish on both projects. The bear market shakes out the weak, but it also shines brightly on the strong. The companies that actually have a real business built on a rock solid foundation aren’t worried. Those companies are spending confidently.
Immutable X cofounder Robbie Ferguson said it best here:
We’re launching @immutable‘s $500M fund to back the next generation of web3 games.
The next billion users of web3 will come from gaming.
Progress waits for nothing – let’s build. https://t.co/MjNULybdhA
— Robbie Ferguson ⓧ – Hiring! (@0xferg) June 18, 2022
Robbie has become one of the staunchest advocates of Illuvium. To an extent, the success of Illuvium means the success of Immutable X and vice versa. Robbie and Illuvium’s cofounder Kieran Warwick have a great relationship and I encourage all of you to watch this video of Robbie and Kieran at the Permissionless conference earlier this year to see how they interact together. The interview starts at the 1 hour 52 minute mark. You can tell both respect each other and are excited about what each other are working on. Illuvium is going to be key to Immutable’s growth and Illuvium may not be possible without a Layer 2 solution like Immutable X.
Conviction is key
So as the crypto world burns and people continue to panic. As stable coins evaporate overnight and the weak continue to get washed away. In one small corner of the NFT world life goes on. Builders are quietly building, deploying capital and choosing to zig when everyone else is zagging as we all traverse this new landscape. There is a lot that has yet to unfold and more will become clear in the coming months, but personally I’ll take those who dare to be different every time. These guys have conviction for a reason. Our job is to find out why and invest with confidence.
As always, thank you for reading my article! Follow me on Twitter (@Rhamphy) to keep up with the latest Illuvium news, leaks and more.