##What is Immutable X (IMX)?
Immutable X is the first layer-2 scaling solution for NFTs on the Ethereum blockchain. It is built to be instant and secure and offers minimal gas fees. With zero-knowledge rollups under the hood, Immutable X is a high-throughput protocol with minimal gas fees, which is ideal for minting and trading NFTs. It looks forward to revolutionizing the NFT space and making it easy to use while solving inherent issues of scalability and costs for Ethereum.
What Problems Does Immutable X (IMX) Solve?
Immutable X addresses the following issues:
- High Gas Fees: It dramatically slashes transaction costs using ZK-rollups, planning to become the primary blockchain for NFTs.
- Scalability: It can support thousands of transactions per second without sacrificing security.
- Environmental Impact: It makes transactions carbon-neutral by canceling the ecological footprint.
- Web3 gaming: It has a preferred developer platform to build & scale games on Ethereum. It is a global leader in web3 game development and publishing, with games in its portfolio like Gods Unchained and Guild of Guardians.
Why Does the Crypto Market Need Immutable X (IMX)?
Immutable X Benefits in the Crypto Market
- Lower-cost transactions, making NFT trading cheaper.
- Supports a high volume of transactions with increased scalability.
- Carbon-neutral transactions solve environmental concerns related to blockchain technology.
History of Immutable X (IMX)
The founders are James and Robbie Ferguson, who collaborate with StarkWare. The project has quickly gained traction because it innovatively solves Ethereum's scalability issues for NFTs.
Who Developed Immutable X (IMX)?
Immutable X was developed by Immutable, founded by James and Robbie Ferguson. It received technical support from StarkWare, which is known for its expertise in zero-knowledge rollups.
What Technology Does Immutable X (IMX) Use and How Does it Work?
Immutable X builds on top of the following vital technologies:
- Zero-Knowledge Rollups (ZK-rollups): Incorporates multiple transactions into one to the overall Ethereum mainnet load. In addition, it also drastically reduces associated gas fee costs.
- Layer-2 Solution: Sits on top of Ethereum, which gives it the power to scale and provide complete security.
- Carbon Neutral: Offsets its carbon footprint, ensuring all transactions are environmentally friendly.
What Affects IMX Price?
Here are some of the more obvious critical drivers for IMX pricing:
- Market Sentiment: News, developments, and overall sentiment in the crypto/NFT markets.
- Platform Adoption: An increase in usage of Immutable X's platform.
- Technological Developments: New features, upgrades, partnerships.
- Regulatory Environment: Any changes in laws or official policy on cryptocurrencies.
How Many Immutable X Tokens (IMX) Are in Circulation?
There are approximately 1.19 billion IMX tokens in circulation from the data available at the time of writing, out of a total supply of 2 billion tokens.
###What Is the Maximum Supply of Immutable X (IMX)?
The maximum supply of IMX tokens is 2 billion tokens.
What Is Immutable X (IMX) Utility? IMX tokens offer the following functionalities:
Transaction fees: Participants must pay transaction fees on the Immutable X layer.
Staking: It gives the power to IMX holders to stake IMX for rewards and secure the network.
Governance: Token holders participate in decision-making by applying their democratic rights through voting.
Immutable X (IMX) Tokenomics
These are the tokenomics governing Immutable X:
- Staking and rewards: IMX holders can stake their tokens to earn rewards.
- Incentives: There are incentives for users in the form of IMX tokens.
- Supply Cap: 2 billion tokens total supply cap.
What is the All-Time High and All-Time Low for Immutable X (IMX)?
All-Time High: $9.52
All-Time Low: $0.378055
Where to Buy Immutable X (IMX)?
IMX tokens are listed and available on some of the biggest cryptocurrency exchange platforms globally: Binance, Coinbase, FTX, KuCoin, and Uniswap. These exchange platforms offer various trading pairs of IMX.
Who Were the Early Investors in Immutable X (IMX)? Immutable X has secured early investment from prominent venture capital firms and institutional investors like Galaxy Digital, Coinbase Ventures, and Alameda Research.
What Are the Revenue Streams for Immutable X (IMX)?
ImmutX's revenue model includes:
- Transaction fees from users.
- Staking rewards: the revenue derived from staking IMX tokens.
- Partnerships and collaborations: revenue from partnering and collaborating with other blockchain projects.
- NFT marketplace: revenue from trade activities across the Immutable X NFT marketplace.
