TikTok’s expansion into NFTs is unsurprising, given the company’s focus on deploying cutting-edge software technology. Despite the fact that NFTs have existed since before Ethereum, no year has been as hectic as this one.
OpenSea, as the most popular NFT exchange, saw $3.4 billion in trading volume — and that’s just on Ethereum.
This massive NFT wave even boosted lesser-known blockchains like Solana, which outperformed Ethereum by 500%. TikTok, on the other hand, will use Immutable X rather than Ethereum or Solana.
This is another Ethereum-based Layer 2 scalability solution. Immutable X was created with zero gas fees in mind, allowing it to integrate with blockchain games, marketplaces, and applications.
Source – Tokenist
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