A leading games marketplace, Kinguin is now entering the booming NFT sector.
Kinguin Announces NFT Gaming Cards
Immutable X recently launched to ease the high costs and slow transactions inherent in blockchain technology. And amidst the latest crypto boom, the launch was welcome. Within the first 24 hours, the solution saved users over $400,000 in gas fees.
Now, the project is tying up with Kinguin, a Steam-like alternative. Kinguin will use Immutable’s technology to roll out blockchain-based “Gaming Cards” that can be bought and sold in the platform’s marketplace. The founder and CEO of Kinguin, Viktor Romaniuk Wanli, has hinted at other use cases such as “new bounties” and “special deals.” The details of these are unclear at press time.
The move will also expose a larger gaming audience to the world of cryptocurrencies.
Kinguin hosts 10 million users, many of which may have never bought an NFT. The company enjoys outsized influence over the broader esports market too, sponsoring popular gaming events and launching the Kinguin Esports Performance Center in Europe.
“We are excited to partner up with Immutable X on innovative NFTs and smart contract offerings to gamers and esports enthusiasts worldwide. We see the ultimate value in bringing new rich experiences and functionality to these global communities.”
Attracting such attention is likely why Wanli and his team chose to partner with Immutable.
Blockchain networks can be extremely expensive to use, making even the simple minting of a digital art piece costly. This makes the slightest influx of new users a painful reminder of the technology’s limits. Immutable has thus tried to make a name for itself as a scalability project with a key focus on the NFT space. Teaming up with Kinguin will put this name to the test. Robbie Ferguson, a co-founder of Immutable, said: “Kingun comes in with massive marketplace building knowledge, structures and experience, and we’re very excited about the unique trading experiences that they’ll be able to create and scale on Immutable X.”