• 2.5 billion dollars worth, a coin in the Ape-Verse AND Capital for Magic Eden

  • Mar 18 2022
  • Length: 3 mins
  • Podcast

2.5 billion dollars worth, a coin in the Ape-Verse AND Capital for Magic Eden

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  • Summary

  • 2.5 billion dollars worth After an investment of 200 million dollars in the Immutable platform, it is now worth around 2.5 billion dollars. This means that it is already one of the big players. Immutable is a layer 2 scaling solution. This means that transactions on this system, which is based on Ethereum technology, can be traded faster and more cost-effectively through innovative approaches. Immutable tries to cover especially the niches gaming and collections. Large collaborations have also already been announced. ImmutableX is to be the driving scaling solution on the future GameStop store and Opensea has also announced to integrate Immutable X. In addition, the company is still building its own NFT games. Some even very successful like "Gods Unchained". The technology has a lot of potential, which is why such an investment is justified. A Coin in the Ape-Verse The company Yuga Labs, known for their collection "the Bored ape Yacht club". is now launching its own token. For this purpose, a DAO, i.e. a decentralized autonomous organization, was founded to manage the project. The token is to be usable in future games of the brand. A first game is to be presented in the course of the year. Among each owner of a Bored Apes 15% of all Coins are divided. The same applies to the so-called Mutated Apes. 47% will be used for the development of the ecosystem and will remain with the DAO. The rest of the Coins will be divided among VC's, employees and founders. Capital for Magic Eden Magic Eden, like Opensea, is also a trading platform for non-fungible tokens with the difference that you pay with Solana and not Ethereum. Solana has the advantage that the transaction costs are much lower. Mostly only a few cents. In conclusion, this also means that less energy is needed for transacions, so the technology is better for the environment. The company was founded during an initial upswing in the NFT hype. Magic Eden wants to specialize mainly in gaming NFT's, as they see the most potential in this area, especially for the underlying technology Solana.
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