Evaluating BNB, Immutable X, and Mytheria in the NFT Sales Boom

The NFT market in 2025 has evolved into a $49 billion ecosystem, with gaming NFTs accounting for 38% of total trading volumeNFT Market in 2025: Trends, Growth, and Industry^[3]. As the industry matures, the focus has shifted from speculative digital art to utility-driven assets, with layer-1 and layer-2 blockchain ecosystems competing to capture long-term value. This analysis evaluates BNB Chain (layer-1), Immutable X, and Mytheria (layer-2) through the lens of scalability, user engagement, and revenue sustainability.

BNB Chain: A Layer-1 Powerhouse with Mixed Signals

BNB Chain dominates the blockchain gaming sector, hosting 35.5% of all games deployedThe Growing Ecosystem Of Layer-2 NFT Projects In 2025^[2]. Its ecosystem thrives on hybrid DeFi-NFT applications, capturing 6% of the market shareWhat are the new trends in the NFT market in 2025?^[4]. However, user engagement remains a critical weakness: despite its game volume, BNB Chain accounts for only 12.9% of daily active users in gamingThe Growing Ecosystem Of Layer-2 NFT Projects In 2025^[2], suggesting many projects lack quality or retention.

Q3 2025 saw a 283% surge in NFT trading volume, driven by whale activity, but this masked a 53% decline in average daily buyersAnalysis of NFT Market Growth Data in 2025^[1]. Total NFT trading volume for the quarter reached $55.2 million—far below Ethereum ($120.7 million) and Bitcoin ($74.6 million)Analysis of NFT Market Growth Data in 2025^[1]. BNB Chain's revenue also fell 27.9% to $34.9 million, primarily due to reduced gas fees from DeFi transactionsAnalysis of NFT Market Growth Data in 2025^[1]. To counter this, the chain launched the “Gas-Free Carnival” initiative, offering zero-fee stablecoin transactions to boost adoptionThe Growing Ecosystem Of Layer-2 NFT Projects In 2025^[2].

While BNB Chain's infrastructure supports high-volume NFT activity, its reliance on speculative demand and declining user participation raise questions about its ability to sustain long-term value capture.

Immutable X: The Layer-2 Leader in Gaming and Collectibles

Immutable X, a layer-2 solution, has emerged as a critical player in the NFT gaming and collectibles space. It processes thousands of transactions per second with fees as low as $0.01–$0.05The Growing Ecosystem Of Layer-2 NFT Projects In 2025^[2], making it ideal for high-frequency trading. By Q3 2025, Immutable X's total value locked (TVL) reached $2.5 billionThe Growing Ecosystem Of Layer-2 NFT Projects In 2025^[2], underscoring its role in facilitating scalable, cost-effective NFT transactions.

Layer-2 solutions collectively handle 60% of NFT transactions in 2025The Growing Ecosystem Of Layer-2 NFT Projects In 2025^[2], driven by their ability to reduce friction for users. Immutable X's focus on gaming aligns with the sector's dominance in NFT volume, as gaming NFTs account for 38% of global salesNFT Market in 2025: Trends, Growth, and Industry^[3]. However, its success depends on maintaining partnerships with game developers and expanding into new use cases beyond collectibles.

Mytheria: A Layer-2 Contender in a Shifting Landscape

Though Mytheria's Q3 2025 performance metrics are not explicitly detailed in available data, its position within the layer-2 ecosystem can be inferred. The broader layer-2 market is thriving, with 85 million NFTs minted globally in H1 2025 and 52% of sales occurring on secondary marketsAnalysis of NFT Market Growth Data in 2025^[1]. Mytheria's potential lies in its alignment with trends such as utility-driven NFTs (e.g., digital diplomas, event tickets) and AI-integrated “intelligent NFTs” (iNFTs) that update metadata dynamicallyWhat are the new trends in the NFT market in 2025?^[4].

Layer-2 platforms like Mytheria benefit from the maturing NFT market, where buyers prioritize functionality over speculation. However, competition from established layer-2s like Immutable X and Arbitrum means Mytheria must differentiate itself through unique use cases or technological innovation.

Comparative Analysis: Layer-1 vs. Layer-2 Value Capture

The NFT market's shift to layer-2 solutions highlights a fundamental tension: layer-1s like BNB Chain offer broad adoption but struggle with scalability and user retention, while layer-2s like Immutable X and Mytheria provide efficiency but depend on the underlying layer-1's ecosystem.

BNB Chain's recent initiatives, such as the Gas-Free Carnival, aim to address scalability but may not resolve deeper engagement issues. Immutable X, by contrast, has solidified its position as a gaming-centric layer-2 with strong TVL and transaction throughput. Mytheria's long-term prospects hinge on its ability to leverage AI and utility-driven NFTs—a space where institutional adoption is growingAnalysis of NFT Market Growth Data in 2025^[1].

Investment Outlook

For investors, the key is balancing short-term volatility with long-term utility. BNB Chain's dominance in game deployment and hybrid DeFi-NFT projects suggests it will remain a significant player, but its user engagement challenges could limit value capture. Immutable X's TVL and low fees position it as a strong contender in gaming, while Mytheria's alignment with AI and utility NFTs offers high-growth potential.

As the NFT market matures, layer-2 solutions are likely to dominate transaction volume, with layer-1s serving as foundational infrastructure. The winner will be the platform that best bridges scalability, user experience, and real-world utility.