Immutable X

What is the Token?

• Immutable X (IMX) is an ERC-20 utility token that underpins the Immutable X platform, a layer-two scaling solution for non-fungible tokens (NFTs) on Ethereum, designed to address Ethereum's scalability issues, improve user experience, and reduce gas fees.

• The IMX token incentivises trading, liquidity provision, and application development on Immutable X.

Tokenomics

• The total supply of IMX tokens stands at 2 billion. Of this, 51.72% is earmarked for Ecosystem Development, 25% for Project Development, 13.86% for Private Sale, 2.94% for Public Sale 1, 2.48% for Public Sale 2, and 4% for the Foundation Reserve.

Market Data

As of today 22 November 2024, the price of Immutable X is ₹120.49 INR, with a 24-hour trading volume of 118678717.09 USD. The market capitalisation for Immutable X is 2307057191.07USD. The circulating supply is 1670248659.39 Immutable X, with the total supply also being 2000000000 Immutable X.

Token Pros and Cons

Pros:

• IMX incentivises pro-network activities, aligning interests across the platform.

• Immutable X offers a scalable solution to Ethereum's limitations, especially for NFTs, using STARK zk-rollups technology.

• The platform's potential for widespread adoption is bolstered by integration capabilities with commercial platforms.

Cons:

• Investing in IMX carries the usual risks associated with cryptocurrencies, including potential investment loss.

• The token's success is closely tied to the Immutable X platform and the broader acceptance of NFTs.

Why Should You Invest in the Coin?

• The rising interest in NFTs and the demand for scalable, cost-effective solutions make IMX an attractive investment. Its reward system for network participation could further drive the token's value. Nonetheless, thorough research and consideration of risk tolerance are advised before investing.

USP of the Coin

• IMX's unique selling proposition lies in its pivotal role in powering Immutable X, which aims to rectify Ethereum's constraints by offering instant trading, vast scalability, and zero gas fees for minting through the innovative use of STARK zk-rollups technology.

Problem the Coin is Solving

• IMX and Immutable X address Ethereum's scalability, high gas fees, and user experience issues by providing a scalable, affordable solution for NFT creation and trading, aiming for broader adoption of this technology.

Founder and Team Background

• Founded by Robbie Ferguson and Alex Connolly, Immutable, the parent company of Immutable X, is steered by leaders with a vision to develop a leading web3 ecosystem for creators, underscored by a recent $200 million Series C financing from notable investors.

ICO Price

• Immutable X's ICO on CoinList and IEO on Huobi Global in 2021 raised $12.5 million within an hour at an initial price between $0.10 to $0.15, showcasing significant investor interest and the project's ambitious goals for NFT scalability and accessibility.

Risks Associated in Investing in the Coin

• Investment in IMX entails typical cryptocurrency risks, such as market volatility and regulatory uncertainties, alongside the dependency on the success of the Immutable X platform and the evolving NFT market.

Whitepaper Insights

The Immutable X whitepaper outlines the platform’s mission to revolutionize the world of gaming by introducing the full power of Web3. The platform aims to address the limitations of Ethereum, particularly in relation to NFTs, by offering a scalable, low-cost solution. This is achieved through the use of STARK zk-rollups technology, which allows for instant trading, massive scalability, and zero gas fees for minting.

The IMX token plays a crucial role in this mission by rewarding pro-network activities and aligning incentives between traders, creators, and marketplaces. The token is issued by Digital Worlds NFTS Ltd (“the Foundation”) and is used to accelerate the adoption of Immutable X.

The whitepaper also discusses the platform’s staking rewards program, which aims to fuel the sustainable growth of Immutable X. Unlike traditional platforms, which extract value from their users, the staking rewards program ensures that value is shared back with users.

The whitepaper further outlines the token distribution and supply schedule, providing transparency and visibility into the token’s circulation. It also discusses the platform’s funding rounds and the allocation of funds by the Foundation.

Overall, the whitepaper presents Immutable X and the IMX token as innovative solutions to the challenges facing the adoption of NFTs, with a particular focus on gaming. By offering a scalable, low-cost, and user-friendly platform, Immutable X aims to bring digital ownership to the world via NFTs.