Immutable X

Immutable X

IMX
$2.4%5.71

Key Metrics

Price$2.4
Real Volume (24H)$73,724,555.48
Marketcap$3,503,108,537.99
Fully Diluted Valuation$100,000,000
ATH$9.52
ATH DateN/A
ATL$0.531183
ATL DateN/A
Circulating Supply570M
Total Supply2B
WebsiteN/A
WhitepaperN/A
Popularity Rank32
Chart
What is Immutable X?

Immutable X is a layer-two scaling solution for non-fungible tokens (NFTs) on the Ethereum blockchain. The blockchain aims to eliminate Ethereum's limitations, such as low scalability, poor user experience, illiquidity, and slow developer experience, offering users instant trading and massive scalability with zero gas fees for minting and trading NFTs without compromising user or asset security. Immutable X is built with STARK zk-rollups, a technology that Vitalik Buterin considers Ethereum to be “all-in on,” enabling users to create and distribute assets like ERC-20 and ERC-721 tokens on a massive scale.

The game Director of Gods Unchained, Chris Clay, stated that Immutable X allows the game to implement a new meta-system that was previously impossible, offering a world-class experience for users and developers.

Immutable X was founded by James Ferguson, a Forbes 30 Under 30 entrepreneur who previously led a software development team at a billion-dollar eCommerce company, and his brother Robbie Ferguson, a Thiel fellow and Forbes 30 Under 30 entrepreneur as well. The team consists of more than 100 members from different backgrounds like blockchain, FAANG, finance, fintech, and management consulting.

Immutable X is unique because it is one of the first layer-two solutions that utilize zk-rollups and focus exclusively on NFTs, making it cutting-edge development in the Ethereum ecosystem. The project has a good chance of becoming the default “NFT blockchain” in the future, provided its promised transaction speed of more than 9,000 tps can be achieved.

To fulfill this promise, the API abstraction layer is crucial. Thanks to REST APIs, every NFT-related interaction like minting, trading, and transferring is a simple API call on Immutable X. This will be a key component in attracting new entrants like established gaming and content companies to the space. Users will not have to switch networks when connecting their wallets, and the protocol provides an intermediate layer called the “Link,” which enables an NFT-specific wallet experience and allows Immutable X to support a third-party marketplace ecosystem without security risks.

With its shared global order book facilitating protocol liquidity, NFT marketplaces can be built on Immutable X without a backend. In consequence, third-party marketplace solutions can co-exist with the protocol’s native marketplace. The protocol also expects to lower the barriers of entry for content creators and smaller developers with this solution.

Immutable X's whitepaper suggests that the platform plans to achieve its goals with the help of multiple blockchain networks such as Ethereum, Binance Smart Chain (BSC) network, InterPlanetary File System (IPFS), and many more. Immutable also intends to host all the data on IPFS for platform users. IPFS is a peer-to-peer file distribution system that aims to provide users access to all the browsers available on the market without installing any additional software.

IMX is the Ethereum token that powers Immutable X, and users can stake it, vote on the future of the protocol, and pay transaction fees. The DARA token is the native token of Immutable, available on the Binance Smart Chain platform, and uses the BEP20 token standard for creating or issuing smart contracts on the Ethereum blockchain. Thirty-six percent of the total token supply is distributed in public sale, 10% goes to the DAO fund, 15% is distributed to the advisory fund and 15% to the team fund. Twenty-one percent of the total token supply is kept locked in the DARA liquidity, and the remaining 3% will be utilized in marketing and promotion.

Disclaimer

The investment information, comments, and recommendations provided here do not fall under the scope of investment consulting. Therefore, making an investment decision based solely on the information and comments provided here may not yield results that meet your expectations.

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