ImmutableX is a Layer-2 scaling solution for Ethereum developed exclusively to support NFTs. It offers a gas-free minting platform for non-fungible tokens to create and manage NFT projects in a scalable and highly cost-effective manner.

ImmutableX offers a secure platform for building and deploying Web3 games powered by NFTs. It is also home to the ImmutableX Marketplace - a leading NFT marketplace where users can mint and trade Ethereum-based NFTs.

It offers an entirely carbon-neutral platform for trading NFTs. In addition, it is designed for scalability, letting developers deploy and expand their projects without worrying about compromising their efficiency or transaction fees.

In addition, the Layer-2 network enjoys the superior security of the underlying Ethereum blockchain, which has never been hacked to date. ImmutableX has also partnered with StarkWare for its zero-knowledge roll-ups to ensure excellent safety and efficiency within its ecosystem.

IMX is the native utility token of the ImmutableX protocol and is used to pay a percentage of transaction fees on the platform. IMX can also be staked to earn rewards from ImmutableXs revenues and serves as the governance token, letting token holders vote on proposals about the future development of the protocol.

ImmutableX is a leading platform for developing and deploying Web3 games and trading NFTs without paying any gas fees. It is a Layer-2 network operating on top of the Ethereum blockchain, enjoying all the benefits that the underlying Layer-1 blockchain offers in terms of security and popularity.

However, the ImmutableX Protocol is completely carbon-neutral and has saved over 3.7 billion kWh in energy in one year as of January 2023. Another critical benefit it offers over Ethereum is that it has no network congestion issues, charges very low transaction fees, and offers quick trade confirmation.

The Immutable X Marketplace is one of the leading NFT marketplaces in the crypto sector. It is home to popular NFT collections such as Gods Unchained, Guild of Guardians, Illuvium, and more.

In addition to the Immutable X Marketplace, the ImmutableX protocol also offers a platform where you can build and launch your Web3 game, swap IMX and ETH tokens, contribute to ImmutableXs decentralized governance mechanism, and even participate in airdrops, partnerships, and Play-to-Earn (P2E) campaigns.

ImmutableX was developed through a partnership between Immutable and StarkWare to tackle the challenges of the NFT sector on Ethereum. The ImmutableX mainnet launch occurred in April 2021 when the team completed work on the development of the blockchain and released it to the public for use.

It held its ICO (initial coin offering) in September 2021 via CoinList. The token sale raised more than $12.5 million in funding for the team, with the ICO successfully selling out in less than one hour.

The token sale followed a Series B funding round where Immutable raised $60 million from established players in the crypto industry, including BITKRAFT Ventures, King Rivar Capital, Galaxy Interactive, and Press Ventures. Shortly after the Series B round in September 2021, ImmutableX raised $200 million in its Series C round and was valued at $2.5 billion.

In February 2022, GameStop partnered with ImmutableX to launch its own NFT Marketplace on the Layer-2 network. The company also announced a dedicated $100 million grant fund for game developers to build Web3 games on the platform.

In December 2022, ImmutableX partnered with MoonPay to launch the NFT Checkout feature. The primary NFT sale checkout feature lets ImmutableX users mint and own NFTs using their credit or debit cards.

ImmutableX could be an interesting crypto asset to add to your crypto portfolio, especially if you believe in the potential of NFTs. As one of the leading NFT marketplaces, the growth of this sector could make the IMX token a valuable investment in the future.

The IMX price could head higher as ImmutableX partners with more Web3 games and NFT collections to launch them on its platform. This could increase investor confidence and support the value of ImmutableX.

The ImmutableX price could also benefit from an improvement in market sentiment, not just towards cryptocurrencies in general but also towards Web3, NFTs, and GameFi. As a platform that supports crypto projects in these areas, the IMX price statistics could be boosted as more users and investors get interested in these areas.

While it is impossible to accurately predict the price of ImmutableX (IMX) over any given timeframe, there are several fundamental factors that can impact its price action and volatility. These factors include:

Level of Adoption of ImmutableX

Increased adoption of the ImmutableX platform by developers for Web3 games and NFT collections can strengthen the price of the IMX token. More projects launching on the platform would attract more users, resulting in increased on-chain activity and making IMX a more valuable digital asset.

Future Developments of the ImmutableX Ecosystem

Future developments, such as partnerships with mainstream businesses outside the crypto industry, and upgrades that enhance the efficiency of the ImmutableX platform and marketplace, can contribute to an uptrend in the IMX price.

Market Sentiment

Market sentiment plays a crucial role in determining the price movement of IMX cryptocurrency. Positive or bullish sentiment towards digital assets and NFTs can drive gains in the ImmutableX price. Conversely, a bearish or risk-averse sentiment may lead to sell-offs that weaken the value of the IMX token.

$IMX is the native crypto asset of the ImmutableX ecosystem and serves the following purposes:

Native Currency

IMX is used to pay 20% of the protocol fee on every transaction undertaken on ImmutableX. Even if you do not own IMX, the ImmutableX platform converts the fees paid by buying $IMX on the open market for this purpose.

Staking

All the transaction fees paid in IMX are staked in the ImmutableX staking pool by the platform. You can earn rewards from the platforms revenues by staking IMX in this manner.

Governance Token

You can also enjoy voting rights and participate in the decentralized governance mechanism of ImmutableX by holding IMX. In this manner, you can contribute your thoughts on proposals that decide on the future evolution of the platform.

Crypto Asset to Trade and HODL

Trade ImmutableX against other cryptocurrencies to profit from market conditions and volatility changes. You can buy or sell IMX against other digital assets or hold it long-term if you believe in the future potential of ImmutableX.

Earn Passive Income on BYDFi

You can also leverage your IMX holdings to earn passive income on BYDFi through our Crypto Lending service. Lend liquidity in IMX here over a period of seven days, 14 days, or 28 days to earn daily interest and grow your crypto portfolio in a safe and risk-free manner.