Eterlast has announced today that it will partner with Immutable X to build its new NFT platforms. The European NFT studio uses the rights of well known entertainment and sports brands to create unique NFT experiences. To that end, the partnership with Immutable X will help Eterlast bring these iconic pop culture brands to the metaverse through NFTs.
Eterlast Is First European NFT Studio With Licensed Brand NFTs
While there are some NFT studios providing NFTs from well-known brands, Eterlast will be the first one based in Europe. That is to say, Eterlast is likely to be a major player when it comes to bringing mainstream audiences into the NFT market. Without a doubt, more people are likely to buy NFTs from a brand they already know and love.
Eterlast CEO Joan Roure suggested as much in the press release for the announcement. “We are bringing the content that we consume on a daily basis to the metaverse through unique NFT experiences,” she said.
To clarify, Eterlast does this by securing the rights from established brands. To list, this includes pop culture figures from iconic films, sports, TV characters, and music artists. Indeed, Eterlast will “…bring these rights to life through compelling NFT platforms, where fans can enjoy, play, earn, collect, and trade them,” according to Roure.
Eterlast expects to launch its first NFT platform in mid-2022. It will announce further details about the platform via its website.
What Does Eterlast’s New Partner, Immutable X, Do?
In further statements, Roure makes it clear why Eterlast chose to partner with Immutable X. “Immutable X was the obvious partner choice for us as they have the industry leading, zero-gas, environmentally friendly, carbon-neutral, Layer 2 scaling solution for NFTs that fits perfectly with our vision,” she said. But how exactly does Immutable X provide these things?
Well, to explain, Immutable X is a Layer 2 scaling solution for the Ethereum network. As a matter of fact, it is the first such platform on that blockchain. To sum up, a Layer 2 solution is a framework that is built upon an existing blockchain.
As we have previously noted, Ethereum brings with it certain challenges. For one thing, the network has notoriously high transaction fees. Not to mention that the way it processes transactions is very energy intensive, and thus not particularly eco-friendly. Although to be sure, there are many teams in the industry working to address these issues.
As a result, many teams have turned to Immutable X as a way to solve these issues. For example, major marketplace VeVe has their platform on Immutable X. Another example is the biggest trading card game on the blockchain, God’s Unchained.
By using Immutable X, platforms can keep their assets in the Ethereum ecosystem. This gives them the benefit of its decentralization and security. What’s more owners can trade these NFTs on all platforms that support Immutable X. Evidently, even leading NFT marketplace Opensea is planning to add Immutable X support to its website.
At any rate, this is a significant move for both parties. It certainly positions Eterlast to bring some famous brands and their fans into the NFT market.