One Ethereum-based (ETH) gaming altcoin is skyrocketing over the last month as its ecosystem experiences rapid growth.
ImmutableX (IMX) has surged by 147% during the past thirty days, increasing from $0.42 on January 8th to its current value of $1.04.
The layer-2 protocol’s price explosion comes as the project says its blockchain technology is becoming increasingly popular for Web3 uses, including gaming.
“Immutable is becoming the leading ecosystem of choice for the highest quality Web3 games and experiences. Here is everything you missed this week on how we are bringing Web3 to the mainstream.”
The project also says it will soon launch the “Immutable Passport,’’ a non-custodial wallet that streamlines the ability for Web3 games to onboard players.
In a recent press release about the wallet, the project says,
“Customer research conducted by the ImmutableX team found that ease of onboarding, security, and plug-and-play features were the top priorities for development studios integrating Web3 components into their game.
Achieving these goals requires a mainstream gamer-friendly wallet to possess a simple sign-in process, leveraging social logins from popular services like Google and Apple. This will allow gaming projects to easily welcome new, larger audiences.”
ImmutableX is also a partner in the NBA on TNT’s watch-to-earn program, where participants can earn tokens by answering trivia questions and use them to purchase digital items from an online marketplace.
Token projects built on ImmutableX are also seeing surging prices, such as the non-fungible token (NFT) gaming project Illuvium (ILV).
ILV shot up by more than 70% in a week amid new upgrades, reaching a weekly high of $105 from a low of $61.81 on January 29th. Illuvium has since retraced and is trading for $90.27 at time of writing.
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