ECOMI’s VeVe Launches on Immutable X in a Bid to Boost Premium NFTs on Ethereum

[PRESS RELEASE – Singapore, Singapore, 15th December 2021]

Singapore-based technology company ECOMI has integrated its VeVe app-based digital collectibles marketplace into Immutable X, the first layer 2 (L2) solution for Ethereum focused on scaling non-fungible tokens (NFTs) without compromising decentralization. The successful integration moves 2.6 million+ premium licensed NFTs to Ethereum, allowing over 1 million active VeVe users to trade with zero gas fees, fully own their carbon-neutral assets and connect to the vibrant Ethereum NFT community.

ECOMI made the initial announcement on its core partnership with Immutable X in May 2021.  One of the driving opportunities behind the collaboration is the interoperability of VeVe digital collectibles on the largest smart contract blockchain, Ethereum. Immutable X is built on top of StarkWare’s bleeding-edge zero-knowledge proof technology. This makes the L2 solution compatible with Ethereum and allows users to enjoy instant transactions, massive scalability and gasless NFT trades with premium collectibles from leading brands such as Disney, Marvel, DC Comics, Warner Bros, Cartoon Network, tokidoki, Ghostbusters, Back to the Future and more on VeVe’s marketplace.

VeVe is also significantly improving their carbon impact by providing grants worth more than USD 7 million to environmental causes and nonprofits. Since Immutable X’s protocol reduces computing energy and has committed to cover the ongoing cost of carbon credits with certified climate-conscious partners, Trace and Cool Effect, all the NFTs minted and traded on the VeVe marketplace will be 100% carbon-neutral.

Speaking on the successful integration, Robbie Ferguson, co-founder of Immutable X stated,

“VeVe switching to Immutable’s Ethereum-based scaling platform proves that scale, user experience, and carbon impact no longer have to be a trade-off with the security and liquidity of the world’s most popular blockchain. We’re thrilled to help create a scalable way for millions of people to use Ethereum’s open ecosystem.”

Launched in 2018, ECOMI offers users a one-stop-shop for digital collectibles through their app-based platform VeVe, offering premium license NFTs in partnership with major brands and creators across pop culture, entertainment,  modern art, and more. The platform offers collectors ownership of their digital assets while providing a myriad of new revenue streams for IP holders, in the digital space.

With VeVe, users can obtain unique digital collectibles which they are able to showcase in virtual showrooms, or purchase and sell with other VeVe users in a few taps on Veve’s secondary marketplace. The app utilizes both blockchain and augmented reality technologies to offer premium licensed digital collectibles to its community from some of the world’s leading entertainment brands.

“We’re proud to partner with the top entertainment brands in the world to offer premium digital collectibles that stand apart from many other projects in the NFT space. With our move to Immutable X, the possibilities for brands and artists alike to push the envelope are just about endless.” Dan Crothers, COO and co-founder of ECOMI, further said.

Notwithstanding, VeVe’s augmented reality “photo mode” allows users on the platform to capture, interact with and share their collectibles through its in-app social feed, or on other social media platforms including Twitter, Facebook, Instagram, and Tiktok.

About VeVe

Founded in 2018, VeVe was created by collectors and for collectors to bring premium licensed NFT digital collectibles to the mass market. With over 1,000,000 active users and 2.6 million  NFTs sold, VeVe is the largest mobile-first digital collectibles platform and one of the top-grossing Entertainment Apps in the Google Play and Apple stores.

About Immutable X

Immutable X is the first Layer 2 scaling solution for NFTs to enable gas-free minting and trading, while not compromising the security of the most used blockchain globally for NFTs, Ethereum. The solution, powered by StarkWare’s innovative technology, offers instant trade confirmation, massive scalability (up to 9,000 transactions per second), and fantastic developer and user experience. Immutable X has announced integrations with established marketplaces such as OpenSea and Mintable, and is powering some of the largest NFT plays across DeFi (SuperFarm), Collectables (Tiktok, Ecomi/VeVe, Epics.GG), and gaming (Ember Sword, Gods Unchained, Guild of Guardians, GreenPark Sports, Illuvium, MyCryptoHeroes+).