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⇑ Immutable Emerges Unscathed Amid Market Volatility to Register Significant Gains

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Immutable Emerges Unscathed Amid Market Volatility to Register Significant Gains
Immutable has seen significant growth, rising 23.5% in a week despite market-wide volatility. Notably, Immutable X, intended to offer Layer 2 solutions, partnered with Squid to revolutionize cross-chain Web3 gaming. The partnership is anticipated to be mutually beneficial, pushing immutable's adoption rate higher and enhancing the gaming experience. Immutable X Passport has performed remarkably well, surpassing 2 million signups and transforming the Web3 gaming wallets' face.

Despite an impressive performance, Immutable decided to shut down the NFT marketplace, a move questioned by many but believed to be strategic. Meanwhile, an introduction of a video game showcase during the Gamescom together with Space Nation and Auto Legends brought excitement among gaming enthusiasts.

Furthermore, their alliance with Kanoi positioned them for increased popularity in the gaming world as they aimed at enhancing the Web3 gaming experience. The launch of The Main Quest, the largest ever Web3 gaming rewards program, was another significant addition to their offerings this year.

Numerous strategic tie-ups, such as the ones with Polygon Labs and Axelar, has significantly expanded their clientele, leading to prudent growth. Immutable had to navigate obstacles such as the closure of Immutable X Marketplace, but it overcame them by launching the crypto gaming rewards program worth $50 million, tremendously benefiting them.

Immutable News Analytics from Wed, 13 Dec 2023 08:00:00 GMT to Thu, 29 Aug 2024 23:03:22 GMT - Rating 8 - Innovation 7 - Information 6 - Rumor -2

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