How To Buy An NFT On TokenTrove And ImmutableX

December 29, 2021 - 4 min read

With gas fees on Ethereum so high, we're starting to see Layer 2 blockchains & marketplaces that offer much lower, if not zero-fees. This is your guide to buying an NFT on TokenTrove using the ImmutableX blockchain.

How To Buy An NFT On TokenTrove And ImmutableX
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What is ImmutableX?

ImmutableX is a Layer 2 blockchain with a higher amount of transactions per second compared to Ethereum. It also boasts near-zero fees per transaction. ImmutableX ties its transactions to the Ethereum blockchain, allowing it to borrow from Ethereum’s security while scaling its transactions per second.

You’ll use MetaMask to interact with the ImmutableX network.

What Is TokenTrove?

TokenTrove is a marketplace built for assets on the ImmutableX blockchain, similar to how OpenSea is a marketplace built for assets on the Ethereum blockchain.

How to buy an NFT on TokenTrove

To buy an NFT on TokenTrove, you’ll first need to connect your MetaMask.

Token Trove Marketplace

Then choose the MetaMask account you want to use.

Selecting MetaMask Account

How To Create An Immutable X Account

Click the dropdown menu in the top right and click ‘Create Immutable X Account’.

Creating Immutable X Account on Token Trove

You’ll then need to connect your wallet to the Immutable X link.

Connecting MetaMask to Immutable X Account

Then sign your transaction.

Signing Transaction with MetaMask Wallet

Now your Immutable X Account is set up. We'll now set up your Immutable X Key.

How To Set Up An Immutable X Key

First click Set Up.

Set Up Immutable X Key

Then sign the action with your wallet. This will be free.

Signing Message With MetaMask To Deposit Into Immutable X

You won’t need to write down any Secret Phrases, your Ethereum account in MetaMask is your key to accessing assets on ImmutableX.

How To Deposit IMTBL ETH In TokenTrove

Quick heads up before you Deposit IMTBL ETH into TokenTrove…

When you deposit, you’re essentially selling ETH for IMTBL ETH which isn't spendable on OpenSea and other ETH-based marketplaces. If you want to get your Ethereum back from IMTBL ETH you’ll need to Withdraw which will incur a gas fee because you’re swapping your ETH back to the Ethereum mainnet where gas fees are paid for every transaction you do.

If you’re just starting out on TokenTrove, it might be beneficial to start with a small amount you know you’re looking to spend. It’s a good idea to keep at least .02 ETH in your MetaMask wallet to pay for gas.

Now it's time to Deposit.

Click the green Deposit button next to IMTBL ETH.

6TokenTrove

When you’re ready to Deposit, choose your amount to transfer to IMTBL ETH Tokens.

Depositing ETH to Immutable X

You’ll sign a transaction in your wallet to approve the transfer (no gas fee).

Signing Transaction in MetaMask

Next, you’ll do the transfer which will cost a gas fee. For me, it was $50. Yours will vary.

Signing Transaction in MetaMask

You’ll wait for the Ethereum to be swapped to IMTBL ETH and deposited into your wallet.

Creating a transaction on MetaMask

For me, it took about 15 minutes for the IMTBL ETH to show up in my wallet

Deposit is on its way

Success!

Depositing IMTBL ETH Into Immutable X

Buying An NFT On TokenTrove

Now that we’ve deposited IMTBL ETH, we can start looking for NFTs to buy. If you’ve bought anything on OpenSea the rest of the process is nearly identical. The difference is you won’t be paying gas when you buy an NFT on TokenTrove. Instead, you’ll just sign for transactions:

Signing A Transaction In MetaMask

For this article, I bought a random NFT I know nothing about. Buying a random NFT is not recommended for your NFT journey. However, at a list price of 0.000045ETH, this NFT costs $0.19 and zero gas to buy.

Divine Chains on Immutable X

Once you’ve purchased an NFT, go to My Account to see your assets:

My Account on Token Trove

You’ll need to select the individual Collection to see the NFTs you own in that Collection:

My Account Divine Chains Screenshot

The NFTs you own on Immutable X do not show up on your OpenSea because you’re using a different blockchain to transact.

Conclusion

As gas fees get more expensive on Ethereum, the cost of entry for everyday collectors goes up as well. Layer 2 blockchains and Layer 2 marketplaces are hoping to offer a solution to the expensive cost of entry.

I hope this article helps you start exploring a cheaper option to buying and selling NFTs!

Ezra Fuller

written by

Ezra Fuller

Ezra Fuller

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