Immutly, the next-gen NFT Marketplace, is here and here’s everything you need to know.
It’s been a while since the world became obsessed with Non Fungible Tokens, or NFTs. Ever since its rise, more and more companies and individuals (such as the likes of Jack Dorsey, Gucci, Adidas, etc.) are diving into the industry to learn more about NFTs and their ideologies. However popular NFTs might have become in the last year or so, a larger chunk of the population is yet to understand the nuances of NFTs. People are hesitant to enter the community due to several reasons, largely based on the uncertainty that goes around NFTs and cryptocurrency, the high minting and procurement fees attached to NFTs, and the massive environmental dent left behind among others.
To dissuade individuals of their fears, specifically those of the Indian masses, a particular organization is on a mission to make NFTs more approachable and accessible.
Immutly, a next-gen NFT marketplace, vows to take care of many of the issues masses face while working or dealing with NFTs. They’ve made it their mission to make NFTs accessible to each and every one by ensuring that the company stays true to the value and benefits NFTs provide to people, ethically and legally.
Immutly, like many other NFT marketplaces or companies, provides a platform for creators to showcase their work — whether that work represents collectibles, digital art, gaming items, or even domain sites — giving creators everywhere the chance to connect with likeminded individuals that are interested in collecting, purchasing, owning, investing in these works.
But what truly separates Immutly from the rest is the way they go about the process. Instead of dealing with the hassles and uncertainties of cryptocurrency, Immutly urges the community involved to operate with fiat currency — operating with real money/currency instead of depending on cryptocurrency to make payments, removing the complexities and hassles faced with cryptocurrency. Additionally, operating in fiat currency enables traders and creators to experience a bigger and more populous platform to operate in. Creators are able to communicate and even collaborate with like-minded individuals with their works and in turn, this provides traders and buyers a larger array of works to marvel at, purchase, and invest in.
However, Immutly isn’t just limited to the perk of having fiat currency. The company is also on a mission to reduce the carbon footprint and the detrimental environmental impact NFTs have by having zero gas fees and negligible minting fees- making the process more comfortable and accessible to everyone.
With Immutly, creators will be able to earn by selling their NFTs and collecting royalties when their NFTs are resold. At the same time, buyers and makers will approx. Save atleast 40% of their costs such as that of numerous gas costs, network/exchange charges, wallet charges, and transaction fees between different crypto exchanges. Currently, Immutly charges a minting fee of Rs. 10 per NFT.
Immutly would only charge a minimal platform fee of 4% for platform maintenance, which would be split evenly between the creator and trader in a 3:1 ratio.
With Immutly reducing both the cost of developing the NFTs as well as having zero gas fee, this leads to larger accessibility to people. Additionally, creators can easily create NFTs at a significantly lower price which also makes it easier for purchases and investors alike to collect NFTs.
Their proprietary architecture ensures a seamless transaction experience for everyone without any cryptocurrency hassles and all by adopting a more centralized approach to the existing solutions available in the market.
This transaction is possible because Immutly’s platform as an immutable digital ledger system is built on the concept of the blockchain. Immutly’s proprietary architecture uses ImmuDB as the backbone for the NFT platform, providing the benefits of the blockchain architecture while removing the heavy gas fees and the dependency on cryptocurrency from the system altogether.
Immutly runs on a structure that is halfway between centralization and decentralization, and it’s done while guaranteeing that the benefits of both types of networks are obtained.
Decentralization is an ingenious notion that benefits from enhanced transparency and ease of growth, to mention a few advantages. However, some disadvantages of this idea include the anonymity of the true owners of the chain, which is comprised of the 51 percent rule, indicating a strong promoter power, opening doors to criminal actions, and the lack of central governance, which might possibly lead to anarchy and monarchy. It also consumes a lot of energy since it utilizes a lot of processing power.
Centralization is also a wonderful idea since it has the benefits of having a central accountable authority with a governance structure. It allows for democracy, has a focused vision, and is less expensive for the people of the country in terms of transaction charges. Furthermore, there is less monetary power in terms of investments owned by a single corporation. However, there are several drawbacks, such as transaction and decision-making delays, concealed corruption, and a non-transparent system.
Taking all of this into account and recognizing the values of both sides of the coin, Immutly has devised a solution that they feel will result in a positive and helpful outcome. Their primary value is in using the great benefits of NFT technology and blockchain architecture to make them available to everybody while reducing the reliance on cryptocurrency. Furthermore, the semi-decentralization architecture in use, ensures that one does not have to worry about anyone being able to modify the ledger. Because of the technology and the proprietary architecture used, the NFTs on Immutly would be stored in a dedicated server space.
Immutly might be new to the industry, but with their novelty characteristics, they are here to stay. To know more about Immutly, visit the website at https://www.immutly.com/. You can also visit and learn more about Immutly through their social media.
Instagram https://www.instagram.com/immutly/?utm_medium=copy_link
Facebook https://www.facebook.com/immutly/
Twitter https://twitter.com/immutly
LinkedIn https://www.linkedin.com/company/immutly/
YouTube https://www.youtube.com/channel/UCzo9ihl6c7-DZQ6FekUCK7g
