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Oct 31 1 tweets 2 min read Read on X
Immutable has received a Wells notice from the SEC, the latest in their de facto policy of regulation by enforcement. We received this within hours of our first ever conversation, on a timeline clearly accelerated to land before an election.

Sadly, stories like this are becoming less surprising each time. We’ve seen an increasing number of companies like @Coinbase, @Consensys, @Uniswap, @OpenSea, @cryptocom face SEC escalations, many in the last two months. With this latest move against Immutable, the SEC’s overreach continues and expands into gaming.

Immutable is well capitalized with a large war-chest to build for the future of gaming, and if needed, we will stand up and fight to defend digital ownership for gamers. But the SEC’s approach hinders every startup trying to innovate in an already difficult industry. Read our full statement here: immutable.com/blog/defending…

Under the current administration, the SEC has filed (and lost) a string of lawsuits, seeking to regulate crypto via enforcement rather than policy.

Last year, Ripple won a “landmark victory” where Judge Torres found that XRP was not a security. After publicly stating Ethereum was a commodity, the SEC secretly opened an investigation into ETH. They shut this investigation down after Consensys sued them to defend Ethereum’s ecosystem in June of this year. Last year, Grayscale sued the SEC to open the floodgates for institutional adoption of crypto. They won, with the court finding the SEC’s denial of Grayscale’s proposal "arbitrary and capricious.” In recent weeks we’ve seen the SEC’s overreach continue to expand with the livelihoods and freedoms of musicians, artists and other content creators now under threat in light of the SEC’s move against NFT platform OpenSea.

The industry desperately wants clear guidelines for compliance, and instead companies are forced to spend millions of dollars in legal fees to even get off the ground. At the end of the day, this hinders the many companies in crypto trying to build real products.

Immutable has been building since 2018 to bring digital ownership to the $110B+ of in-game items sold each year - we are not here to play short-term games. It’s business as usual for our team, products and services. We are confident in our position, in the value digital ownership can bring to 3.1 billion gamers across the world, and in the power of blockchain to create a better internet. If required, we will fight for these rights, and those of our industry, vigorously.

In the words of dissenting commissioner Hester Peirce: “Leaving crypto to be addressed in an endless series of misguided and overreaching cases has been and continues to be a consequential mistake”.

Until that changes, we will fight for game developers, players, and creators for digital ownership.

And we will keep building.

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More from @Immutable

Jun 16, 2023
Immutable zkEVM is the next frontier in web3 game development.

We are scaling web3 games with zero-knowledge Image
2/ Web3 has already made strides in innovation for gaming; decentralization and true ownership and now we are ready to enter the next phase of web3 game development.

Say hello to the era of zkEVMs.
Web3 gaming needs to scale. Games like League of Legends & Fortnite operates at the millions and web3 gaming needs operate at that level.

Ethereum allows for security at the cost of scalability and that is where zk rollups come in.
Read 7 tweets
Jun 9, 2023
Out of the $7.2B dollars raised across web3 last year, gaming received 60% of those funds.

This shows that web3 gaming will see explosive growth, but the tech must be able to scale and solve real problems for players and builders.

That’s why we’re building Immutable zkEVM Image
With zk technology, scaling becomes an afterthought and is no longer an issue. This revolutionary tech also introduces:

✅ Enhanced security
✅ Privacy protection
✅ Trustless gameplay
✅ New revenue streams
✅ Improved game mechanics
In 2022, the gaming skins market rose to a $50 billion industry. Traditional web2 gaming assets have always been a one-way street, where funds flow from gamers to developers and publishers.

This is one of the pain points that web3 is aiming to disrupt.
Read 8 tweets
May 26, 2023
Gaming is unlocking web3 adoption sooner than you think and Immutable is the best way to participate in this future.

Immutable is a gaming ecosystem with unmatched opportunity 🧵
One of the largest obstacles to mainstream web3 adoption is information overload & onboarding.

This is why we continue to build in public and provide solutions to the problems gamers may be facing.
Immutable is creating the leading and unified ecosystem to make building and playing web3 games accessible, safe, and scalable for the world.

Today, we have evolved into a one-stop shop to solve the limitations on Ethereum. Image
Read 9 tweets
May 19, 2023
The forever growing ecosystem of Immutable

This is the future of web3 gaming Image
The gaming industry is forever evolving and with web3 technology, it is constantly redefining the way devs build games and how players play games.

Web3 gaming in the last two years alone has attracted $15 billion dollars in investment and Immutable is part of this conversation
In 2022 alone, games built on Immutable have received $1 billion in investor funding, more than any other web3 gaming platform.

At Immutable, we care about building the most vibrant and secure ecosystem for web3 game devs so their games are ready to roll out into market.
Read 6 tweets
Apr 21, 2023
The Immutable Orderbook allows marketplaces, studios, and creators to increase their revenue and liquidity by sharing NFT orders across the world’s leading NFT marketplaces

In the past year, we have grown from 2 connected marketplaces to 14+ marketplaces building #onImmutable Image
This innovative solution allows users to trade assets seamlessly across Immutable marketplace network across marketplaces like @GameStopNFT @rarible @TokenTrove & so much more!

immutable.com/marketplaces?u…
By driving 50% of all trades on Immutable through non-origin marketplaces, the Global Orderbook is revolutionizing the way you manage liquidity in web3 gaming.

This allows for better asset trading, providing a superior user experience for gamers and marketplaces alike
Read 5 tweets
Jan 31, 2023
Introducing Immutable Passport, your passport to the future of gaming 🎮

We are developing Immutable Passport, the instant non-custodial wallet onboarding solution for web3 games. Designed to onboard the next billion users into web3 #onIMX

immutable.com/products/passp…
Why Passport?

Mainstream gamers don't understand how web3 wallets work yet. And maintaining multiple addresses and wallets can cause friction for someone who just wants to play web3 games.

Existing web3 wallet solutions haven’t been built specifically for gamers, until now.
The goal of Passport is simple.

To empower game studios to make web3 easy and accessible for everyone. With Passport, gamers will have a single secure wallet that allows them to unlock new experiences across the next generation of web3 games.
Read 7 tweets

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