The Layer 2 to build and scale web3 games on Ethereum, ImmutableX (IMX) is set to launch in April 2023 a non-custodial wallet (passport system) to authenticate web3 gamers. Powering the next generation of web3 games, ImmutableX’s “Immutable Passport (IP)” would enable onboarding gamers into web3.
2022 was a massive year for Immutable in terms of growth and building the one stop shop for web3 games and gamers 🧵 pic.twitter.com/NpoQ3gfpBy
— Immutable (@Immutable) January 27, 2023
ImmutableX states, Customer research conducted by the ImmutableX team found that ease of onboarding, security, compliance and plug and play features were the top priorities for development studios integrating Web3 components into their game.
Immutable Passport (a non-custodial wallet) would act as a solution for gamer profile and authentication, just as an Xbox Gamertag or an Apple ID do—without a password. In doing so, Immutable would not access users’ private keys or sign transactions.
The IP would allow players to access various integrated tools. These would include securing digital wallet, fraud protection, and seamless web3 games and marketplaces’ authentication.
With the IP, web3 gaming studios would be able to “drive adoption across mainstream audiences, maintain enterprise-grade security and access meaningful player analytics.” Studios integrating the IP would also have access to the active players of the ImmutableX ecosystem.
Robbie Ferguson, President, ImmutableX, says, “for Web3 gaming to reach a billion players, onboarding must be invisible, secure and work across any game – mobile, console or desktop. Passport is a self-custodial wallet, where users can sign in with just an email and one-time password – it will be a game changer for players and radically reduce user acquisition costs.”
Blockchain gaming companies like Ubisoft and Square Enix are welcoming cryptocurrency and non-fungible tokens (NFTs) to develop fresh revenue streams for creators. Web3 gaming development and investment has been rising lately, per a DappRadar report. It says a total of $748 million were raised in August 2022 for developing new Web3 games.
In related news, reflecting on their 2022 performance, ImmutableX tweeted:
2022 was a massive year for Immutable in terms of growth and building the one stop shop for web3 games and gamers 🧵 pic.twitter.com/NpoQ3gfpBy
— Immutable (@Immutable) January 27, 2023
ImmutableX was the most funded gaming L1/L2 in the past year showing that the highest quality games are choosing Immutable.
Reportedly having raised $200 million in March 2022, IMX partnered with over 100 games and 12 marketplaces. IMX also launched a $500 million Developer and Venture Investment Fund to boost ewb3 games and projects.
