ImmutableX is a groundbreaking Layer-2 scaling solution exclusively designed to support NFTs on the Ethereum blockchain. It revolutionizes the NFT space by offering a gas-free minting platform, enabling the creation and management of NFT projects in a scalable and cost-effective manner. Its key features include:
1. Gas-Free Minting: ImmutableX eliminates gas fees, making it a cost-effective choice for NFT creators and collectors.
2. Web3 Gaming: It provides a secure foundation for developing and deploying web3 games powered by NFTs.
3. ImmutableX Marketplace: This platform hosts a prominent NFT marketplace where users can easily mint and trade Ethereum-based NFTs.
4. Carbon-Neutral Trading: ImmutableX is committed to environmental sustainability, operating as a carbon-neutral NFT trading platform.
5. Scalability: Its scalability ensures that developers can expand their projects without compromising efficiency or incurring high transaction fees.
6. Security: ImmutableX benefits from the robust security of the underlying Ethereum blockchain, which has never experienced a hack.
7. Partnership with StarkWare: To enhance safety and efficiency, ImmutableX collaborates with StarkWare, utilizing zero-knowledge roll-ups.
IMX serves as the native utility token within the ImmutableX protocol. It's used to pay a portion of transaction fees on the platform. The IMX coin can also be staked to earn rewards from ImmutableX's revenues. Additionally, it functions as a governance token, allowing token holders to vote on proposals regarding the protocol's future development.
ImmutableX is a prominent platform for developing and deploying web3 games and NFT trading without the burden of gas fees. It functions as a Layer-2 network built on top of the Ethereum blockchain, harnessing the robust security and popularity of the underlying Layer-1 blockchain. Here’s how the Immutable platform works:
ImmutableX stands out for its commitment to environmental sustainability. It has achieved carbon neutrality, saving a remarkable 3.7 billion kWh in energy in just one year by January 2023. This reflects its eco-conscious approach to blockchain technology.
Unlike Ethereum, ImmutableX boasts no network congestion issues. It facilitates transactions with exceptionally low fees and rapid trade confirmation, enhancing user experience and cost-efficiency.
The Immutable X Marketplace is a prominent player in the crypto sector, hosting popular NFT collections, including Gods Unchained, Guild of Guardians, Illuvium, and more. It provides a thriving ecosystem for NFT enthusiasts.
Beyond NFT trading, ImmutableX offers a versatile platform where users can create and launch their Web3 games. Additionally, it supports swapping IMX and ETH tokens, contributes to ImmutableX's decentralized governance mechanism, and enables participation in airdrops, partnerships, and Play-to-Earn (P2E) campaigns.
A team of entrepreneurs and developers launched Immutable X in April 2021. The co-founders include:
> James Ferguson: A Forbes 30 Under 30 entrepreneur who led a software development team in the eCommerce industry.
> Robbie Ferguson: Co-founder and President of Immutable, bringing expertise to the web3 gaming industry.
> Alex Connolly: A key founding team member contributing to the platform's development and success.
Immutable, a pioneering platform in the NFT sector, was established through a strategic collaboration between Immutable and StarkWare. They aimed to address the challenges associated with NFTs on the Ethereum blockchain. Here's a comprehensive overview of Immutable X’s history:
Immutable’s journey began with the development of its Layer-2 blockchain solution. The mainnet was officially launched in April 2021, marking a significant milestone. This blockchain aimed to provide solutions for NFT challenges while being built on top of Ethereum's Layer-1, benefiting from its security and popularity.
In September 2021, Immutable X conducted its Initial Coin Offering (ICO) via CoinList. The ICO was a remarkable success, raising over $12.5 million in funding within just one hour. This initial funding was crucial for the platform's development and growth.
Immutable X further strengthened its position in the crypto industry by securing substantial funding. A Series B funding round garnered $60 million from established players, including BITKRAFT Ventures, King Rivar Capital, Galaxy Interactive, and Press Ventures. In September 2021, ImmutableX raised an impressive $200 million in its Series C round, achieving a valuation of $2.5 billion.
In February 2022, Immutable made headlines by partnering with GameStop to launch its own NFT marketplace on the Layer-2 network. This strategic move demonstrated ImmutableX's commitment to fostering the NFT ecosystem.
Additionally, ImmutableX announced a dedicated $100 million grant fund to empower game developers in building Web3 games on their platform.
In December 2022, Immutable collaborated with MoonPay to introduce the NFT Checkout feature. This innovative feature allows Immutable X users to seamlessly mint and own NFTs using credit or debit cards, enhancing accessibility and convenience.
If you're considering adding crypto assets to your portfolio, ImmutableX warrants attention, especially if you're bullish on the future of NFTs. Here are more reasons why you could consider investing in IMX crypto:
Immutable's collaboration with emerging web3 games and NFT collections on its platform can catalyze IMX price appreciation. Such partnerships enhance investor confidence and contribute to ImmutableX's value.
The Immutable X value can also be influenced by broader market sentiment, encompassing not only cryptocurrencies but also the burgeoning domains of Web3, NFTs, and GameFi. As a platform supporting crypto initiatives in these arenas, the IMX to USD price could benefit from the growing interest of users and investors in these sectors.
It is challenging to offer an accurate IMX price prediction due to the volatile nature of the crypto market. However, monitoring the following factors could offer a better understanding of price trends in the Immutable crypto:
The level of adoption within the Immutable ecosystem is a pivotal driver. As more developers choose Immutable to power their web3 games and NFT collections, the demand for and price of Immutable X tokens could surge. The launch of additional projects attracts more users and enhances on-chain activity on the Layer-2 network, solidifying IMX's position as a valuable digital asset.
ImmutableX's ongoing developments are significant influencers. Collaborations with established businesses outside the crypto sector to launch projects on Immutable can stimulate the IMX token price. Furthermore, when developers introduce upgrades that boost the efficiency of the ImmutableX platform and marketplace, it can drive the Immutable X price upward.
Market sentiment plays a pivotal role in determining the IMX price movements. A positive and bullish outlook on digital assets and NFTs can fuel gains in the Immutable X price. Conversely, a bearish or risk-averse sentiment may lead to investor withdrawals and sell-offs, potentially weakening IMX token value.
Immutable X (IMX) is the native token of the Immutable ecosystem and serves the following purposes:
IMX serves as the primary currency within the Immutable ecosystem. It covers 20% of the protocol fees incurred during transactions on the ImmutableX platform. Even if you don't possess Immutable X initially, the platform automatically converts transaction fees into IMX, ensuring seamless transactions.
You can stake your IMX tokens by participating in the Immutable X staking pool. This allows you to earn rewards from the platform's revenues, enhancing your crypto holdings in a passive and lucrative manner.
Holding Immutable X tokens grants you voting rights and the opportunity to engage in the decentralized governance of Immutable actively. Your voice matters as you contribute to proposals that shape the platform's future evolution.
You can trade Immutable X against other cryptocurrencies on the KuCoin Spot Market, capitalizing on market conditions and volatility changes. Whether you buy, sell, or HODL IMX, it offers diverse investment possibilities.
Utilize your IMX holdings to generate passive income through KuCoin's Crypto Lending service. By lending liquidity in IMX coin for varying durations (seven days, 14 days, or 28 days), you can earn daily interest, steadily growing your crypto portfolio in a secure and low-risk manner.
Here’s how you can buy NFTs on Immutable:
1. Start by visiting the Immutable Marketplace app. To interact with the platform, connect your non-custodial crypto wallet to its interface.
2. Buy Ether (ETH) on KuCoin or other supported platforms and transfer the tokens to fund your wallet.
3. Browse through the diverse NFT collections available on the Immutable X Marketplace.
4. Click on the collection that piques your interest and explore the available NFTs within that collection. Examine the details, including the artwork, rarity, and attributes of each NFT.
5. Review its price once you’ve found the NFT you wish to own. If you want to buy it directly, click the "Buy" button. Alternatively, if you prefer to bid for the NFT, click the "Make an offer" button. If your bid is successful, you can acquire the NFT at your bid rate.
6. After making your selection, confirm the transaction using your wallet. This step finalizes the purchase.
Note: Please conduct thorough research and understand the risks associated with NFT investments. Prices of NFTs can be volatile, and it's essential to make informed decisions.
Here’s how to stake Immutable X tokens and earn rewards:
1. Start by visiting the Staking section of the IMX Community website.
2. To get started with staking, connect your crypto wallet to the platform.
3. Fund your wallet by buying IMX on KuCoin or other supported platforms and transferring your tokens to it.
4. Enter the number of IMX tokens you wish to stake. After specifying the amount, click the "Stake" button to confirm your staking.
5. Once you've initiated the staking process, confirm the transaction from your wallet. This finalizes your staking and locks up your IMX tokens for a specific duration, typically 14 days.
6. Your staked IMX tokens will now participate in the staking cycle. At the end of each cycle, you can unstake your tokens and claim rewards.