Ethereum Layer 2 Solution Immutable X (IMX) Emerging as a top non-fungible token (NFTs) hubs with attractive value propositions such as gas-free casting, Web3 Game-optimized solutions and industry-leading security.
immutable X token IMX saw demand First coin offering (ICOs) On November 5, 2021, IMX surged more than 4,800% from the $0.16 ICO price, surpassing the intraday high of $7 on the first day.
In 2022, native tokens have been severely damaged. sell off And as of September 27, 2022, it has lost more than 80% year-to-date (ytd). Immutable X continues to be an exciting venture with the majority of companies watching. blockchain Game projects using Immutable X’s scaling solution due for release in 2023.
In this article, we take a closer look at the factors driving cryptocurrency success and the latest Immutable X price predictions derived from our Immutable X analysis.
Immutable X: NFT Protocol Focused on Ethereum Gaming
Immutable X is Ethereum (ethereum) scaling solution StarkWare.
Immutable X offers NFT users and developers “instant transactions, massive scalability, and zero gas fees for minting and trading” without compromising the industry-leading security provided by the Ethereum blockchain. We aim to The video game industry is Immutable X’s primary target.
“Since 2018, players have spent over $100 billion on in-game assets such as unique character skins, items, and exclusive unlockable content. This content is a great opportunity for tokenization. All of these assets would be more valuable to users if represented,” Immutable X said in it. white paper.
The protocol is built on StarkWare’s ZK (Zero Knowledge) rollup scaling engine called StarkEx.
“Rollup enables world-class scalability and user experience while preserving the underlying security of Ethereum…Rollup of Immutable X allows over 9,000 NFT transfers, transactions, and mints per second , meeting and exceeding the scale required by mainstream NFT projects.”
According to Immutable X, “no gas bills” is a core part of its branding. Users are not charged for creating and transferring NFTs. However, the platform charges him a 2% commission for each NFT sale.
How does Immutable X work? “Immutable X uses ZK rollup. ) and publish the proof on-chain, which will be verified by a smart contract,” the company said. explained on that website.
As of September 27, 2022, over 31.1 million NFTs have been created on Immutable X in 2022, and the protocol has registered over 7.8 million trades. year to dateBy comparison, major NFT marketplace OpenSea saw more than 16.8 million transactions on the Ethereum blockchain in 2022 (data from analytics website, as of Sept. 27). sand dunes Indicated.
Trading card game Gods Unchained was Immutable X’s top game project, with over 13,000 users and over $10 million in revenue in the last 30 days as of September 27, 2022. Dapp Radar clearly.
In May 2022, Immutable X announced support for StarkWare’s smart contract-enabled rollup called StarkNet, paving the way for customization by game developers. smart contract Depending on your Immutable X needs.
“Complex DeFi-powered games (decentralized finance) mechanism or composability often requires support for custom smart contracts. Until now, projects that require both scale and composability have been forced to move away from Ethereum and opt for less secure non-Ethereum L1s such as Polygon and Solana. But that’s about to change,” he said in an Immutable X blog post.
Founders: Immutable and StarkWare
The Immutable X platform was created by Australia-based game developer Immutable in partnership with Ethereum-based scaling solutions startup StarkWare, combining StarkWare’s layer 2 scaling knowledge with Immutable’s understanding of NFTs. Thing.
Immutable was founded by entrepreneur James Ferguson, who previously led the software development team for a major e-commerce provider, and his brother Robbie Ferguson, who is also an entrepreneur.
The company raised $15 million in a Series A funding round in September 2019 to accelerate development of its flagship trading card game, Gods Unchained.
Crypto exchange Coinbase (coin), investment firm Naspers Ventures, and Mike Novogratz-led Galaxy Digital were among the investors in Immutable’s seed round.
What are IMX tokens?
of IMX token It is the native cryptocurrency of the Immutable X platform.
IMX is ERC-20 token Built to reward network activities such as trading on Immutable X, providing liquidity, and building applications. Tokens are also used to pay for the protocol. staking and for governance-related purposes. IMX has three main uses.
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20% of each transaction fee is paid in IMX. If the user does not own his IMX, ETH will automatically be converted to his IMX.
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IMX can be staked to earn staking rewards proportional to the amount of IMX staked in the month compared to all other active stakers. Holding NFTs in Immutable X also qualifies users for staking rewards.
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Users have an IMX-weighted vote in protocol governance decisions.
The maximum supply of IMX tokens is 2 billion tokens. According to the whitepaper, only 5% of the maximum supply was allocated for general sale.
Approximately 14% of the IMX supply was allocated to private institutional and retail investors, and 51.7% was allocated for user grants, developer grants, liquidity provision and marketing purposes.
according to coin market capitalizationIMX’s circulating supply has exceeded 235.2 million tokens as of September 27, equivalent to about 12% of IMX’s maximum supply.
At the time of writing, IMX was the 142nd largest cryptocurrency market. uppercase letter Over $181 million.
Price Action: Debut November 2021
according to coin market capitalization, IMX token has launched a public initial coin offering (ICO) on November 5, 2021 on cryptocurrency exchange Huobi at a price of $0.16.
The token surged over 4,800% upon its ICO debut to an intraday high of $7.87.
IMX quickly hit an all-time high of $9.50 on November 26, 2021, four weeks after going public. Then, even though he went public on Coinbase in early December 2021, he continued to take profits until the end of the year.
As the cryptocurrency price crash spreads, the IMX continues to fall and the token remains highly volatile in 2022.
The token started in 2022 and experienced consecutive monthly losses of over 40% in January and February. After recovering 50% in April, his gaming-focused L2 token fell for the third month in a row.
As of September 27, IMX is trading at around $0.77, 92% below its all-time high.according to coin market capitalizationthe IMX 90-day low is $0.7128.
The price drop comes as investor sentiment shifts to risk-off assets and major cryptocurrencies such as Bitcoin sell off more widely in the cryptocurrency market (Bitcoin) and ether (ethereum), down 57% and 63% year-to-date.
Immutable X News: IMX Staking and More
Below is some recent Immutable X news that may affect you. IMX Price Forecast for 2022.
September 13, 2022: NFT Marketplace Integrated We use Immutable X to enable users to use L2 solutions with lower Ethereum gas fees.
July 7, 2022: Immutable X announced A collaboration with Moonpay allows users to sell crypto held in Immutable X directly as fiat currency.
July 1, 2022: Immutable X launched its first staking cycle on July 1, 2022. IMX staking follows a 14-day cycle. During each cycle, a protocol fee will be collected, 20% of which will be converted into his IMX and distributed to eligible his IMX stakers as rewards.
Excited about the staking announcement! The first cycle will start at 00:00 UTC on July 1, 2022. Before that, move your IMX tokens to the Immutable X Layer 2 wallet.
Recent events like Celsius highlight the priority of self-managed staking. Your assets should always be yours.
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— Immutable | $IMX ⓧ (@Immutable) June 29, 2022
June 16, 2022: Immutable has released an NFT bridge between Ethereum and StarkNet called Arch v1.0.
“Fungible token (such as ERC20) bridges are a popular way for users to move capital between layers, but there are a minority of non-fungible token bridges,” Immutable explains. blog post.
May 30, 2022: Immutable X introduced A “protocol fee” that users must pay 2% of primary and secondary NFT sales on the Immutable X Marketplace.
May 28, 2022: The gaming-focused protocol announced support for StarkWare’s smart contract-enabled rollup called StarkNet in May 2022.
May 10, 2022: Immutable X announced Integrate its global order book into the GameStop NFT Marketplace, bringing existing and future projects on Immutable X Layer 2 to GameStop.
Fixed X price prediction
According to the short-term IMX coin price forecast from coin codex, as of September 27, the token has risen 4.9% and could have reached $0.81 by October 2, 2022. however, coin codex We saw the token trade at $0.627 in the one-month IMX crypto price prediction.
in the long run, of wallet investors Algorithm-based IMX price prediction suggests that the token could drop to an average price of around $0.07 by the end of 2022. of wallet investors Immutable X Price Prediction for 2025 sees the token drop further to an average price of around $0.01 by the end of 2025.
according to digital coin priceIMX/USD could trade at an average price of $0.80 in 2022. digital coin price A constant X price prediction for 2030 showed that the token could reach a maximum price of $10.90 by 2030.
finally, price predictionof Immutable X price predictions for 2022 suggested that the coin could average $0.87 in 2022.
Please note that the Immutable X price prediction may be wrong. Algorithm-based predictions of SNX token prices should not be used as a substitute for your own research. Always exercise due caution before trading and never invest or trade funds you cannot afford to lose.
Frequently Asked Questions
Is Immutable X a good investment?
Immutable X (IMX) is a good investment, depending on your portfolio size and goals, your risk tolerance, and your experience in the cryptocurrency market. Always exercise due caution before investing and never invest or trade money you cannot afford to lose.
Will Immutable X go up?
price predictionof The 2022 Immutable X price prediction suggested that the coin price in 2022 could average $0.87. for your own research.
Should you invest in Immutable X?
Immutable X (IMX) can be a good investment choice depending on your portfolio size and goals, risk tolerance, and experience in the cryptocurrency market. Always exercise due caution before investing and never invest or trade money you cannot afford to lose.
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