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Phil Hall
Phil Hall
Feb 24, 2021
News

SuperFarm Brings NFT Farming to Immutable X

SuperFarm has announced that it will use Immutable X to bring cheap NFT minting and trading to its users. The service should launch in March.
SuperFarm Brings NFT Farming to Immutable X

SuperFarm has announced that it will use Immutable X to bring cheap NFT minting and trading to its users. SuperFarm is a cross-chain DeFi protocol that allows users to create crypto and NFT farms. That would mean that staking and earning NFTs will become a lot cheaper through this service.

The idea of SuperFarm is that every project can deploy an NFT or token farm. They offer an interface to create custom rules, set rewards and create incentives for longer staking.

Earlier this week SuperFarm announced the launch for their SUPER token via IDO on Polkastarter. It has a listing price of $0.025, and addresses needed to be whitelisted to participate. There was also a contribution cap of 0.26 ETH, in order to create fair distribution.

It's important to note that SuperFarm DAO is a product made by Elliot Wainman, who's better known at the YouTuber Elliotrades. He recently also launched NFTs, which supposedly provide benefits to yield farmers. Some of those NFTs are trading for 50, 60 or even 100 ETH, while the complete series 1 collection sold for 337.05 ETH. The cheapest NFT on Opensea right now, costs 1 ETH.

What is Immutable X?

The Ethereum blockchain can't deal with too much traffic. When everybody is sending transactions, the price to do so shoots up. Even though this is nice for miners, it sucks for users. Layer-2 solution like 0xPolygon and Immutable X solve this by adding an extra layer on top of the Ethereum blockchain.

Immutable X uses a technology developed by Starkware, called zk-rollups. This technology allows zero-cost transactions and can serve up to 9 thousand transactions per second, compared to the handful Ethereum can do. In addition Immutable X allows users to mint ERC-721 tokens for free, all while tapping into the network security provided by Ethereum.

Immutable X will launch before the end of March 2021.

Other projects moving over?

Immutable X is made by Immutable, the company behind the trading card game Gods Unchained. They are currently getting more projects interesting in their technology. Recently a new monster catching RPG was announced, which will be made on the new technology. In addition existing projects like War Riders will make the switch.

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Disclaimer: The information provided on this page do not constitute investment advice, financial advice, trading advice, or any other sort of advice and you should not treat any of the website's content as such. Individuals should do their own research before taking any actions related to the product they read about and carry full responsibility for their decisions.
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