On May 27, NFT startup Immutable presented ApeCoin DAO with a proposal to introduce the Otherside meta-universe to the Immutable X network.
Immutable’s proposal notes that the cost of integrating, issuing and moving assets into its network will be zero, and primary and secondary sales will be subject to a fee of only 2%.
In addition, it is reported that Immutable has been working for years to bridge “the gap between high-tech and sophisticated blockchain technology and mass adoption.”
Immutable X is a platform designed to create and trade NFT. It is based on Ethereum, but is a second tier designed for better scalability and lower fees. It is currently used by several platforms, including OpenSea, TikTok and GameStop.
The company’s proposal claims that its scalable network, free transactions and carbon-neutral environment make it the best fit for the Yuga Labs meta-universe project.
Otherside is a blockchain-based virtual world developed by Yuga Labs, creator of the NFY collection BAYC and Mutant Ape Yacht Club (MAYC).
The meta-universe project associated with the BAYC collection is still in development after a land auction in late April. The project sold out all of Otherdeed’s 55,000 NFT lands within three hours of the April 30 public sale.
In March, Immutable closed a $200 million Series C financing round (with a $2.5 billion valuation).