Immutable Passport

Immutable Labs\’ Passport to Solve Web3 Adoption Roadblocks

Immutable Passport, a much-needed Web3 project by Immutable Labs, is the need of the hour for so many reasons. Many of us are already well aware of blockchain games opening ways for players to own in-game digital assets. These games are considered the catalyst to bring the major chunk of the population to Web3 technologies. Moreover, these games also offer plenty of ways to make money or earn cryptocurrency. However, there are certain challenges that halt the mainstream adoption of these games.

Some Play to earn games have massive entry barriers in the shape of NFTs. Players need to buy these NFTs to start playing just like in the popular Web3 game Axie Infinity. Axie Infinity requires players to buy 3 Axies which cost a lot more than any traditional AAA video game. The recent Axie hack of $625 million got everyone worried which also made plenty of gamers apprehensive of the niche.

Web3 Gaming is a Bit too Complex for Newbies

However, the entry cost barrier is just the tip of the iceberg. There is a bigger challenge hindering the onboarding of gamers, especially newbies. Setting up and beginning to play a Web3 game involves complexities and intricacies which deter gamers. Web3 and blockchain gaming can be daunting for newcomers due to the significant friction involved. Typically, players need to set up a crypto wallet and add funds in a specific cryptocurrency.

They can purchase non-fungible tokens (NFTs) just to play a Web3 game. Furthermore, this process may need to be repeated for every Web3 game, which can be off-putting. In fact, the moment players realize they need to remember and safeguard a 24-word seed phrase, the fun may vanish, resulting in disinterest or abandonment. The Immutable Labs must find ways to minimize the barriers to entry for gaming and streamline the onboarding process. This will provide a more engaging and enjoyable experience.

The Immutable Passport Offers a Solution

Sydney-based crypto unicorn, Immutable Labs, has announced its latest project, the Immutable Passport. This project seeks to tackle the adoption barriers faced by Web3. Founded by James Ferguson, Robbie Ferguson, and Alex Connolly in 2018, the project aims to provide seamless operations. The team behind the project has likened it to a single-sign-on (SSO) system. It is similar to Google, where users can use a single account to log in to multiple platforms with ease.

Immutable Labs\’ President and co-founder, Robbie Ferguson, stated in a press release that the Passport is a self-custodial wallet. Further, it allows users to sign in using their email and a one-time password. \”Passport will be a game-changer for players and radically reduce user acquisition costs,\” he added.

Notably, the Immutable team has designed the Passport to be accessible not only to end-users but also to game developers. By doing so, they hope to create an interoperable blockchain gaming universe where projects can work together seamlessly from the early stages of development, eliminating the need to retrofit the Passport into the code.

While the ultimate goal of the Immutable Passport is to create a seamless, invisible, and multi-game product, the team has encountered some obstacles and learned valuable lessons along the way. Nonetheless, the Immutable Passport promises to be a significant step forward in overcoming challenges.

Why Web3 Gaming is Inevitable?

According to Alex Connolly, the co-founder and CFO of Immutable Labs, the company\’s roots date back to the early days of non-fungible tokens (NFTs) when the founders would trade character skins on black markets for games like CounterStrike and RuneScape. These digital wearables for in-game characters, often referred to as \”cosmetics,\” gave the founders the idea that better games could be built in the Web3 space. They believed that if these games were tradable as NFTs, it would create a far superior experience than what they were used to in traditional gaming.

Connolly shared this backstory with CoinDesk, explaining that the founders saw the potential for deeper and more engaging games in the Web3 space. Their early experiences with NFTs fueled their desire to create better gaming experiences that leveraged the power of blockchain and decentralized finance. Today, Immutable Labs is working towards that vision, and their latest project, the Immutable Passport, is a significant step in that direction.

The Immutable Passport Faces Challenges

The Immutable Passport project faces challenges in achieving true interoperability due to resistance from major players in the blockchain gaming industry. Publishers like Activision Blizzard, Riot Games, and Epic Games are some of the names that are not eager to jump in on the idea. Their hesitancy in allowing their games to leave their platforms and work on others has reasons. The interoperability of their AAA IPs may not meet their graphics or gaming standards on any other platform. Additionally, there has been pushback from the gaming community itself. A survey in 2022 revealed that most gamers have negative sentiments toward cryptocurrencies and NFTs.

Despite some positive signs, such as Sony filing a patent to allow for gaming NFTs to be transferred between games, hardware, and even non-PlayStation consoles, Immutable Labs is not waiting for the gaming industry to change. Instead of targeting existing games, Immutable is focusing on fostering the next generation of game builders with a $500 million fund for game developers. The company believes that for mainstream Web3 gaming to truly thrive, there needs to be a breakthrough hit that captures the attention of players worldwide, and Immutable is actively working towards that goal.

Immutable Labs\’ Passport to Solve Web3 Adoption Roadblocks

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ImmutableX Launches Passport System

Launching in April 2023, the tool will serve as a non-custodial wallet, gamer profile, and authentication solution for Web3 gamers. The Ethereum scaling solution, ImmutableX, is launching the Immutable Passport – a one-stop solution for gaming studios to onboard gamers into Web3. The Immutable Passport is a non-custodial solution that acts as a wallet, gamer profile, and authentication. It is similar to Xbox Gamertag or Apple ID, without requiring passwords for sign-on. This means that Immutable does not keep the user\’s private keys and does not participate in transaction signing.

“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 said.

Immutable Passport

The Immutable Passport is a wallet and authentication tool designed to make gaming onboarding simpler. It will achieve it through password-free sign-on and automatic wallet creation. Passport offers a non-custodial solution that never retains the user\’s private keys or participates in transaction signing. This allows game studios to increase adoption among mainstream audiences, maintain high-level security, and gain valuable player analytics. Players are provided with a secure digital wallet, anti-fraud protection, and smooth authentication across web3 games and marketplaces. The Immutable Passport also allows gamers to create and secure their personal online identities that work across web3 platforms.

With the Immutable Passport, players can access a range of integrated tools such as a secure digital wallet, anti-fraud protection, and smooth authentication for Web3 games and marketplaces. The Immutable Passport will give game studios and developers access to vital information. Such as customer behavior insights and player preferences. Furthermore, studios that integrate with Passport will have access to a large pool of active players within the ImmutableX ecosystem. Additionally, partners will receive immediate access to a strong web3 ecosystem of tools, APIs, and infrastructure solutions that support global growth.

In addition to facilitating the smooth migration of ImmutableX-compatible in-game assets, the Immutable Passport provides numerous benefits. Its player-friendly features to make web3 onboarding as effortless and seamless as possible. Such as gamer profiles, early access to game features, user-defined limits, and more. With the \”Guardian\” security framework, which Immutable plans to launch post-launch, users will have access to all necessary tools. It will secure profiles and digital assets, including 2FA approvals, a child lock system, and even private key recovery in case of loss.

Web3 Gaming Revolutionized by Immutable\’s Passport System

According to Immutable, the Immutable Passport will aid Web3 gaming studios in \”attracting mainstream audiences, ensuring top-notch security, and gaining valuable player insights.\” Additionally, studios integrating the Passport will have access to an existing player base in the ImmutableX ecosystem.\”

“For Web3 gaming to reach a billion players, onboarding must be invisible, secure and work across any game – mobile, console or desktop,\” said Immutable\’s Robbie Ferguson. \”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.\”

The blockchain gaming industry has seen progress lately. Big companies like Ubisoft and Square Enix incorporate cryptocurrency and NFTs to generate new income for creators. The growth and investment in Web3 gaming have been substantial as well. According to a report by DappRadar, $748 million was collected in August 2022 for the development of Web3 games.

About Immutable

Immutable is driving the advancement of web3 games through ImmutableX. It is a leading platform for creating and expanding mainstream-ready web3 games on Ethereum.

Moreover, it offers a comprehensive solution for constructing, launching and enhancing web3 games on Ethereum. It creates unlimited assets at no cost, offers seamless gaming experiences, and maximizes the demand for your assets, all supported by a secure product and marketplace ecosystem.

Currently, numerous top-notch web3 games are built on ImmutableX. Some of the games are Gods Unchained, Guild of Guardians, Illuvium, Embersword, Planet Quest, and more.

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