Etherlink Hits Multiple Milestones: Network Upgrade, NFT Success, and Gaming Investment

Etherlink, the Layer 2 scaling solution for the Tezos blockchain, recently had a few successes, including deploying its second major network upgrade, Bifröst, on November 7th, 2024. The upgrade coincides with significant ecosystem traction, highlighted by the six-hour sellout of the Mutant Digital Clan NFT collection (2,000 pieces) and UAE-based Quantix Capital's $1M strategic investment in Etherlink gaming projects. The platform has processed over $2M in DEX trading volume since end of September.

Network Upgrade and DeFi Growth

The Bifröst upgrade introduces enhanced functionality for token bridging and improved transaction indexing capabilities. Since launch, the protocol has achieved several key metrics:

• Nearly $1 million in assets have been bridged from Tezos since mid-May.
• Over $2 million in trading volume on IguanaDEX, the network's primary DEX, since the end of September.
• Integration of major DeFi infrastructure, including Transak (fiat on-ramp) and SuperlendHQ (lending protocol).

NFT and Trading Momentum

The Mutant Digital Clan of the Undead Lunatics collection sold out all 2,000 NFTs within six hours of launch, highlighting strong collector demand. The collection was the first official Etherlink PFP-style NFT collection. The collection is still available via the Rarible secondary market and is currently at 11x mint price. 

Strategic Gaming Push

UAE-based Quantix Capital has committed $1 million to support gaming projects building on the Tezos ecosystem, including Etherlink. This investment coincides with two significant gaming developments:

• Integration of Sequence, a Web3 gaming platform offering Unity and Unreal Engine compatibility.
• Sugarverse securing a Tezos Foundation grant for play-to-earn gaming development, with plans for a token launch in November 2024.

Infrastructure Expansion

AscendEX has become the first centralized exchange to support native Tezos ($XTZ) deposits and withdrawals on Etherlink, marking a crucial step in cross-chain accessibility.

For more information about Etherlink and its ecosystem, visit https://www.etherlink.com/.

About Etherlink

Etherlink is a non-custodial, EVM-compatible Layer 2 blockchain powered by Tezos Smart Rollups. It is fast, fair, and (nearly) free. It features MEV protection by design and low transaction costs ($0.001). Etherlink is permissionless, inherits the security of Tezos’ Layer 1, and features a decentralized governance model, fraud proofs, and censorship resistance.