Video game marketplace Kinguin is launching a non-fungible token (NFT) platform for gamers in partnership with Immutable X.
After observing and analyzing the NFT industry for the past few years, Kinguin has finally decided to enter the market. It’s creating a new platform where clients and partners can create unique NFT collections and trade them.
According to Kinguin founder and CEO, Viktor Romaniuk Wanli, this is a natural progression for the digital marketplace. Kinguin will be able to expand its offerings according to the needs of its customers, “and incentivize them with new bounties and special deals built using NFT tokens,” he said.
Kinguin is an online video games marketplace. It has over 10 million registered users and more than 50,000 digital products. In particular, Kinguin features heavily in the eSports realm. For instance, it hosts the Kinguin Esports Lounge in Europe and sponsors major Counter-Strike leagues. While it currently focuses on games and software, its new platform will include features such as NFT gaming cards.
Partnership with Immutable X
Kinguin will be creating its new NFT platform in partnership with Immutable X. Immutable created Immutable X as a layer-two solution for NFTs built on Ethereum. It did so in order to address the issues that it believes are hindering NFTs, primarily “accessibility, scalability without compromising user custody, and true decentralization.”
Immutable X launched in Alpha this March. Since then it has saved users upwards of $1.3 million in gas fees. Immutable X enables NFTs to be traded, earned, shared, gamed, and collected securely without gas fees.
Immutable co-founder Robbie Ferguson praised its collaboration efforts with Kinguin, highlighting its “marketplace building knowledge, structures, and experience.”
“The partnership with Kinguin is aligned with our vision to welcome gaming communities into the NFT ecosystem and their notoriety in the eSports world is a great addition to the Immutable ecosystem,” he concluded.