So, IMX is considered one of the Top 2 Gaming ecosystems alongside @0xPolygon. Let's look at the below exhibit once.
Last year there was roughly $2-3 bn in funding in AA/AAA games.Polygon and Immutable combined had nearly $2B USD, or nearly half of all web3 gaming funding.😇 2/n
Now imagine when IMX builds exclusively on Polygon to create a massive ecosystem living entirely on @0xPolygon
Some of the largest of the largest gaming studios are building on @Immutable. They all will end up using @0xPolygon (MATIC) validators run & secured chains.
3/n
How will MATIC secure and decentralize all @0xPolygon chains in future?
There are only two utilities of a proof of stake token like MATIC.
Its the staking to secure, decentralize and govern the L2/L3 chains and the transaction fees earned by the validators and delegators.
4/n
All Supernets (app specific, ecosystem specific) will have MATIC staking resulting in gas fees going to Stakers and delegators on top of staking yield.
Also many L3s will settle to Polygon #zkEVMs resulting in larger transaction fees to Polygon stakers.
5/n
We have 100+ large scale app chains building on Polygon already. Imagine these chains start generating 100s of millions in gas fees, that becomes the yield for the MATIC stakers and delegators, which further increases network's economic security.
6/n
Back to Immutable. Gaming is going to be the largest txn generator in Web3.
Immutable zkEVM chain, even though it is starting as a single operator chain,it will migrate into a Polygon staked multi-validator chain where the stakers and delegators will earn the txn fees.
7/n
Not only this, Immutable is going to enable multiple big studios to launch their own app-specific chains, which will all be MATIC-staked, and gas fees from all such chains will go to MATIC stakers.
$IMX will also be able to use their token as the native gas token.
8/n
This is a huge for Web3 gaming industry. As Immutable #zkEVM platform provides EVM smart contracts to their games, their already huge gaming ecosystem will get a massive boost, which since will be using @0xPolygon infrastructure, will bring huge txn fees to Polygon stakers
9/n
IMX and Polygon ecosystems have been the leading ecosystems in the Web3 gaming sector.
I always used to joke that it is like an Unstoppable force meeting an immovable object.
I am no economics scholar but I have some basic understanding. People liked my last tweet so here’s one more of my layman's take on the FOMC meeting that happened today and how it can pave the way to markets going back to normal.
Read on and forgive any noob takes 🙏 . 1/
Right now the biggest issue is the "uncertainty" in the minds of institutions as to how much rate hike is going to happen. It makes it harder to price assets. So they all have been “risk off” meaning sell everything and just stay out of the markets. 2/
Now Today FOMC hiked benchmark rate by 75bps, thats fine but the important part is members' commentary. 3/
I rarely talk about markets but here is my take on all this chaos.
*Not financial advise*
1. This downturn has more to do with “macro” than any fundamental weaknesses in Web3. Long term Web3 remains mega-mega bullish, so newbies keep learning and builders keep building!
1/7
2. The bear should be long but if FED does anything which removes any of this uncertainty, there is a lot of dry powder sitting on the sidelines to bring in aggressive bull rallies. Though possibility of that looks low considering sticky inflation & fears of stagflation
2/7
3. In private markets, A lot of VC funds have raised a LOT of capital, even though they will be careful in selecting their bets, and acceptable valuations would be much lower but I expect the thesis based VCs to keep deploying. Most of them will also play in liquid markets.
3/7
Have been in discussions with @VitalikButerin on how to accelerate relief efforts in India. And we have come up with a solution, we will moving $100mn USDC back to Vitalik, a non-Indian, to do fast deployment in high risk/reward projects.
Why? A thread
Since inception, @CryptoRelief_ , has been extra cautious to be in full compliance of Indian jurisdiction, even though Cryptorelief entity is based out of India.
Considering fund's foreign origin and laws of the India, Crypto Relief followed a systematic, controlled & robust approach in disbursing funds mandated to be utilised for India. But being an Indian citizen(NRI), I have to be extra cautious in any of the projects being donated to.