OKX, a cryptocurrency exchange and ecosystem, has announced a partnership with Ethereum’s Layer 2 scaling solution for non-fungible tokens (NFTs), Immutable X.
As mentioned in an update shared with CI, the partnership should “accelerate OKX’s strategy to make MetaX the DeFi portal of choice for retail and professional investors, now with an instant, zero-gas fee trading experience.”
By integrating Immutable X with the MetaX portal, OKX can “significantly expand its Metaverse gaming assets beyond Gods Unchained, Guild of Guardians, Illuvium, Ember Sword, Habbo and Kongregate.”
The partnership allows OKX users “to interact with the Layer 2 protocol seamlessly while remaining within its … ecosystem of decentralized products.”
Immutable X was built by Immutable “in partnership with the ZK-rollup leading expert StarkWare.”
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.”
Plus, all NFTs on Immutable X will “directly inherit Ethereum’s battle-tested security.” For projects and merchants, the partnership will “provide the opportunity to reach a wider audience within the OKX and Layer 2 ecosystems by selling Immutable X powered-NFTs while interacting with many more OKX solutions.”
The MetaX NFT marketplace will add Immutable X to its ‘list of preferred solutions that already include Ethereum Layer 1, BNB Chain, OEC Chain and Polygon.”
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.”
As covered, OKX (previously OKEx) claims to be a leading cryptocurrency exchange and ecosystem. The firm also notes that they are “trusted” by over 20 million people in more than 180 international markets. They offer a “fast, secure and efficient platform” for retail and instutitonal clients.
Beyond trading on the OKX Exchange, the DeFi portal MetaX is “a decentralized ecosystem of wealth creation opportunities for everyone interested in Web 3.0, metaverse gaming and NFTs.”
As previously reported, Immutable X ia a Layer 2 scaling solution “for NFTs to enable gas-free minting and trading, while not compromising the security of the most used blockchain globally for NFTs, Ethereum.”
The solution, powered by StarkWare’s tech, “offers instant trade confirmation, massive scalability (up to 9,000 transactions per second), and fantastic developer and user experience.”
Immutable X has announced integrations with marketplaces like OpenSea and Mintable, and is “powering some of the largest NFT plays across consumer apps (TikTok), DeFi (SuperFarm), and gaming (GameStop, Habbo, Highrise, and more).”