Non-Fungible Tokens (NFTs) may appear like a short-lived fad. However, with phenomenal growth in gaming tokens and metaverse tokens, it is clear that this revolutionary innovation is here to stay that allows users to monetize digital content. Further, they dig into various industries such as music, sports, fashion, retail, entertainment, and more.
These diverse ranges of industries have initiated actively delving ways to participate with the world of NFTs. Especially, whilst some traders have chosen to develop their own NFT marketplaces. These marketplaces are built to leverage blockchain to confirm the genesis of digital content. Further, the transaction records can further allow royalty attribution, and inevitably display a revenue percentage from second-party sales with the original creator each time the NFT is traded on the marketplace.
Ethereum Gas Fees Cheaper Each Passing Day!
However, as NFT hype is on the rise, traders are scared of high gas fees on the Ethereum blockchain to sell their digital content. On 11th December 2021, Mintable, a popular NFT marketplace, allowed digital content builders to mint NFTs on Immutable X (IMX). IMX is a second layer blockchain directly built on the top of Ethereum using a zk-rollup protocol to allow minting and trading NFTs.
Further, Mintable confirmed that the integration will ensure instant trade confirmation. Traders are allowed to trade with zero gas fees. The motive behind the rollout is specifically for developers and users on Mintable who will benefit from this Ethereum scaling solution.
Collectively, with the Ethereum merger presumed to officially pioneer by early 2022. With no official release date, the NFT marketplace looks into integrating multiple layers to facilitate gas-free transactions. However the recent rollout can possess infinite transactions with nil gas fees, IMX would position Mintable as the most scalable NFT marketplace.