Quick Take:
- Mintable App will integrate Immutable X’s technoogy, enabling minting of NFTs.
- The two companies want to bring NFTs to the masses by overcoming gas and scaling limitations.
- Immutable X is a layer-2 protocol for non-fungible tokens built on the Ethereum network.
Decentralized Autonomous Organization (DAO) Mintable App announced its partnership with Immutable X, allowing the companies to bring NFTs to the masses. Mintable will integrate the layer-2 protocol’s technology, enabling minting of NFTs on Immutable.
Expressing the excitement on Twitter after announcing the deal, Mintable wrote:
Immutable X’s technology ensures security while providing liquidity and scalability when minting and trading Ethereum NFTs. The two companies believe they have a shared goal of expanding the adoption of NFTs by bringing them to the masses.
Users will now be able to create NFTs up to 300MB with no gas fees while also allowing instant confirmations of ETH and ERC-20 token deposits.
Mintable promised users that the partnership will not interfere with decentralization on custody ownership of NFTs.
Writing in a blog, the company wrote, “We care deeply about the power of NFT ownership and the future of assets living on open, secure infrastructure. Current gas and scaling limitations have prevented a lot of new users from joining the NFT revolution. Scaling needs to happen without compromising on decentralization or moving off the Ethereum network. Reducing friction is critical.”
Mintable is the first DAO to run on NFTs instead of ERC-20 tokens. The company believes its partnership with Immutable will also help with its governance NFT. The network relies on MINT-voting NFTs, which owners are able to sell on open marketplaces.
Robbie Ferguson, co-founder and president at Immutable expressed his delight at the opportunity Mintable presents in helping to expand the NFT marketplaces.
“We want to be everywhere NFT fans are and Mintable’s dedication to break new ground in empowering audiences with smart contracts is mind-blowing. We are excited to welcome the communities and work with Mintable app to grow NFT marketplaces,” he said.
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