Immutable

Immutable Price

imx

$1.29
bybit ups
+2.19%
24H
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Market Statistics

Market Cap
2.15B
24H Volume
--
Circulating Supply
1.67B
Max Supply
2.00B

IMX Live Price Summary

As of 10 พ.ย. 2024, the global cryptocurrency market cap is $2.15B with a +2.10% change in the last 24 hours. Today's price of IMX is $1.29, with a 24-hour trading volume of $--. IMX is +2.19% in the last 24 hours, with a circulating supply of 1.67B IMX coins and a maximum supply of 2.00B IMX coins. IMX ranks 54 by market cap. It has a 24H high of $1.37 recorded on 10 พ.ย. 2024, and its 24H low so far is $1.26, recorded on 10 พ.ย. 2024.

What Is the Highest Price of IMX?

IMX has an all-time high (ATH) of $9.52 , recorded on 26 พ.ย. 2021.

What Is the Lowest Price of IMX?

IMX has an all-time low (ATL) of $0.378055, recorded on 31 ธ.ค. 2022.

About Immutable (IMX)

What Is Immutable X (IMX)?

Immutable X Protocol is the first Layer 2 scaling solution built on Ethereum for non-fungible tokens (NFTs) and gaming DApps.

Powered using advanced ZK-rollup technology, StarkWare, Immutable X facilitates instant transactions at near-zero gas fees when trading 100% carbon-neutral NFTs without comprising asset security.

Built to power the next generation of web3 games, Immutable X features user-friendly APIs that allow the building of games in a matter of hours and free minting of play-to-earn NFTs, as well as an integrated credit card payment for mainstream adoption.

Additionally, Immutable X has a supercharged order book that instantly distributes NFT assets across multiple marketplaces. Further, the platform is compatible with all desktop Ethereum NFT-enabled wallets, and users don’t need to switch between networks.

An ERC-20 utility token, IMX is at the core of the protocol’s operations and provides incentives to all protocol participants.

Key Takeaways

  • Immutable X is a Layer-2 Ethereum scaling solution offering fast, secure, and environmentally friendly transactions for NFTs, reducing gas fees and boosting scalability with features like Zero-Knowledge Rollups.
  • The IMX token powers the Immutable X platform, facilitating various ecosystem functions such as transaction fee payments, governance, staking rewards, and aligning incentives for network participants.
  • The future of Immutable X looks promising with strong leadership, continued innovation in Web3 gaming, secure blockchain technology, and strategic industry partnerships despite potential scalability and regulatory challenges.

What Is IMX Used For?

At the moment, there are three core uses of IMX tokens in the Immutable X ecosystem. Fees are the primary source of revenue for the protocol where 20% of these fees have to be paid using IMX tokens (Immutable X will automatically swap the actual purchase currency such as ETH into IMX, so users do not need to hold IMX for transactions). Immutable X charges a 2% fee on all primary asset sales and NFT trades. The fees are used to incentivize different participants on the platform.

Another core use of IMX is staking which is facilitated by the platform’s fee mechanism. By holding IMX tokens, or participating in voting for proposals, users will be rewarded with IMX tokens at monthly intervals.

Lastly, IMX is used to power decentralized governance on the Immutable X network. IMX token holders can vote on token-related proposals from changes in token supply to developer grants.

Immutable X Tokenomics

IMX has a total supply of 2 billion tokens which will be unlocked progressively for different user groups. IMX tokens are allocated as follows:

  • Ecosystem development 51.74%

  • Project development 25%

  • Private sale 14.26%

  • Public sale 5%

  • Foundation reserve 4%

Exploring Immutable X

Immutable X serves as a beacon of hope for developers and gamers looking for scalability solutions for Ethereum-based NFTs. It is a Layer-2 solution that aims to tackle the scalability challenges of Ethereum, accelerate transaction processing, eliminate gas fees, and ensure carbon neutrality for NFT transactions. These attributes create a conducive environment for developers to construct rapid, scalable, and reliable applications for NFTs and blockchain games.

This platform’s primary attributes include gas-free transactions, an environmentally sustainable approach, and comprehensive developer support and tools. These attributes contribute to the immutable imx price and its overall value in the market. Immutable X provides a versatile infrastructure for decentralized markets, which enables developers to build fast, scalable, and robust applications for NFTs and blockchain games.

The Concept Behind Immutable X

The beauty of Immutable X lies in its ability to address the NFT scaling trilemma, which involves achieving scalability without compromising security or decentralization. This innovative platform leverages Zero-Knowledge-Rollups and batch processing to eliminate gas fees and reduces fees for low-value, high-volume transactions, thereby maintaining a healthy circulating supply of IMX tokens in the market.

Immutable X enhances the efficiency and scalability of NFTs by utilizing Zero-Knowledge Rollups, enhancing the affordability, speed, and security of transactions, and reducing the data needed for NFT transactions. With the option to buy immutable assets, Immutable X boosts transaction speeds by processing multiple transactions per second, batch consolidation, and offering zero gas fees for NFTs, leading to a surge in the highest immutable price on the platform.

Key Features of Immutable X

Immutable X stands out in the crowd with its unique features. Some of the most attractive features are:

  • Zero-knowledge proof technology, which validates transactions without disclosing sensitive information, contributing to the platform’s overall value and influencing the current price of IMX tokens.
  • Low transaction fees, with a 2% protocol fee on all secondary trades and no flat fee on each trade.
  • Elimination of gas fees for transactions.

Immutable X has established itself as a high-speed blockchain with the following features:

  • Focus on NFTs
  • Provision of zero gas fees
  • Commitment to carbon neutrality
  • Capability to process up to 9000 transactions per second

It integrates with Web3 for asset swapping in the metaverse by enabling genuine ownership of in-game assets using NFTs and providing a layer-2 solution for NFTs along with advanced scaling technologies. This contributes to the current market cap of the platform.

The Utility and Functionality of IMX Token

IMX is the native utility token of Immutable X, used for various purposes within the ecosystem. The primary roles of the IMX token include:

  • Powering the platform
  • Rewarding builders and traders
  • Facilitating transaction fee payments
  • Covering trading fees
  • Offering incentives to network participants

This integral role of IMX tokens makes them an essential part of the third party marketplace ecosystem, particularly in third-party marketplace solutions built on Immutable X.

IMX tokens oversee the issuance and generation of new tokens through smart contracts such as Mintable.sol, facilitating token minting within the ecosystem. They are the lifeblood of the Immutable X platform, powering everything from executing smart contracts to the creation of assets.

Smart Contract Execution and Asset Creation

IMX tokens play a crucial role in smart contract execution within Immutable X. They aid in smart contract execution by enabling instantaneous trades and transactions without gas fees, thereby improving the platform’s efficiency and carbon neutrality. The asset creation process using IMX tokens involves on-chain minting through smart contracts, enabling the verification of minted assets in the tokens section of the Immutable zkEVM Testnet Explorer.

As a part of the asset creation process, Immutable X imposes a 2% charge on all initial asset transactions and a 2% fee on each NFT exchange related to smart contract execution and asset creation. These fees, facilitated through an intermediate layer called the Immutable X protocol, ensure smooth and efficient transactions.

Staking and Passive Earnings

Staking enables users to accrue rewards on their IMX tokens. Through the Staking Rewards Program, users can generate passive income with zero fees, instead of leaving their tokens idle in a wallet. Users can stake their IMX tokens on the Immutable X platform to partake in the Staking Rewards program. This program offers incentives to participants while fostering the platform’s growth.

Staking also plays a significant role in enhancing the security of the Immutable X network. By committing IMX tokens to verify transactions, users fortify the network’s security and receive rewards in return for their contribution. The potential financial gains from staking IMX tokens can be substantial, but it’s important to keep in mind the potential risks, including technical issues or vulnerabilities in the staking platform.

Governance and Decision Making

IMX token holders can actively engage in the governance and decision-making processes of the Immutable X ecosystem. This includes:

  • Voting on significant protocol decisions such as determining the allocation of token reserves
  • Submitting proposals by providing a deposit
  • Once the minimum deposit requirement is met, the proposal proceeds to a voting phase.

Governance votes in Immutable X are held every 28 days from the token launch, ensuring continuous participation and engagement from the community. IMX token holders have played an active role in governance, influencing protocol decisions, including token allocation.

Immutable X Founders and Team

Behind every successful venture are the visionaries who dare to dream big. Immutable X is no exception. Founded by the dynamic duo, James and Robbie Ferguson, Immutable X has carved a niche for itself in the realm of blockchain-based NFTs and games. The Ferguson brothers have successfully raised $280 million, earning them the title of the billion dollar brothers and solidifying their pioneering role in the Web 3.0 space.

In addition to the co-founders, the team behind Immutable X comprises a group of seasoned professionals with diverse skills and backgrounds. Notable team members include:

  • Alex Connolly
  • Melyssa Charlton
  • Gavin Mai
  • Roger Rai
  • Alberto Franco
  • Happy Walters
  • Kevin O’Leary
  • Leonard Latchman
  • Brent Saunders

This team brings a wealth of experience from working on acclaimed AAA game titles such as Arma 3, Mafia 2, Gears of War, and Stray among others.

The Evolution of Immutable X

Since its inception in 2018, Immutable X has come a long way. The company garnered early attention with the introduction of their proprietary game, Etherbots. Its unwavering dedication to security and initiatives to reduce carbon footprint set it apart from the crowd right from the beginning. Over time, Immutable X underwent a transformation, establishing itself as the primary layer-2 scaling solution for non-fungible tokens on the Ethereum network. This evolution encompassed enhancements in staking rewards, a token split, and the introduction of new trading rewards. Furthermore, the platform initiated a $500 million developer and venture investment fund to bolster its expansion.

Recognizing the rising market demand for efficient and secure NFT transactions, Immutable X made the strategic decision to prioritize NFTs in 2021. It aimed to enhance the usability and scalability of NFTs on the Ethereum blockchain, with a focus on improving transaction speeds, reducing costs, and increasing efficiency. Immutable X has also implemented measures to decrease the gas consumption per NFT trade or minting process and guarantees that all NFTs on the platform are 100% carbon neutral by offsetting their carbon footprint.

Comparing Immutable X to Other Scaling Solutions

While there are numerous scaling solutions in the market, Immutable X stands out due to its unique features and advantages. Immutable X leverages StarkWare’s zero-knowledge-proof technology, Starkey, to achieve scalability and security. This technology consolidates hundreds of transactions into a single zero-knowledge proof, enabling improved throughput, scalability, and sustained security, distinguishing itself from other scaling solutions.

The integration of Web3 is crucial for scaling solutions like Immutable X as it facilitates seamless interaction with decentralized applications and the broader blockchain ecosystem. Furthermore, Immutable X demonstrates its commitment to an environmentally sustainable ecosystem by offsetting the carbon footprint of all NFT transactions on its platform to zero, showcasing its dedication to carbon neutrality.

Purchasing and Trading IMX Tokens

If you’re keen on joining the Immutable X ecosystem, comprehending the process of purchasing and trading IMX tokens is necessary. IMX tokens can be acquired by following these steps:

  1. Create and verify an account on an exchange such as Binance.
  2. Add a payment method to your account.
  3. Proceed to the section of the exchange where IMX tokens can be purchased directly.

Trading IMX tokens involves a simple process on various platforms:

  • Bitunix: Search for the IMX trading pairs and select the pair you wish to trade.
  • Biconomy: Create an account, deposit funds, and proceed to the IMX trading page to start buying or selling IMX tokens.
  • XT.COM: Visit their website, locate the IMX/USDT pair, and begin trading.

Integrating Immutable X into MetaMask

To integrate Immutable X into MetaMask, follow these steps:

  1. Navigate to the Immutable Marketplace.
  2. Click on ‘Connect Wallet’.
  3. Select ‘MetaMask’ from the wallet providers listed.
  4. Initiate the integration process.

Please note that there are certain Protocol Fees imposed by the Immutable X service that you should be aware of during this process, as they may result in the highest price paid.

While integrating Immutable X with MetaMask is generally a smooth process, potential challenges might arise, such as difficulties in establishing a wallet connection, especially when using mobile devices. Immutable X offers troubleshooting guides to assist in resolving these issues. Furthermore, it’s important to note that you can integrate and utilize both the Ethereum network and Immutable X on MetaMask.

Real-World Applications of Immutable X

Immutable X offers a myriad of real-world applications such as:

  • Tokenizing in-game assets for gas-free trading
  • Developing decentralized marketplaces
  • Creating blockchain-based games
  • Setting up a marketplace for trading collectible items

Immutable X is employed in decentralized markets through the use of centralized and decentralized exchanges, enabling the expansion of Ethereum-based non-fungible tokens (NFTs), and allowing gamers to acquire in-game items without incurring fees.

Within gaming platforms, Immutable X functions as a Layer-2 solution for NFTs and blockchain gaming, providing essential scalability and security for game developers to effectively manage in-game assets and the digital ecosystem. By leveraging Zero-Knowledge Rollups to cater to the extensive requirements of decentralized applications, Immutable X enhances the efficiency and scalability of digital asset ecosystems.

Security and Asset Protection in Immutable X

Security is a cornerstone of any blockchain-based platform, and Immutable X is no exception. It uses STARK zk-rollups technology to ensure the security of transactions and protection of assets. STARK zk-rollups technology in Immutable X serves as a high-performance, application-specific solution that allows the minting, trading, and transferring of NFTs. It also safeguards asset security by facilitating efficient transaction processing with a focus on high privacy and security.

By utilizing STARK zk-rollups, Immutable X addresses security concerns through the generation of proofs for off-chain transactions and maintaining the security and credibility of the underlying Ethereum network. Moreover, Immutable X has implemented various security measures such as:

  • Allowing users to control their assets in wallets
  • Using a decentralized network
  • Implementing consensus security measures
  • Employing zk-rollups for security and immutability of digital assets
  • Avoiding centralized control over user assets.

The Future of Immutable X and Web3 Gaming

With plans to drive the next generation of Web3 games, the future of Immutable X appears to be bright. To mitigate potential scalability challenges, Immutable X leverages its Layer-2 scaling solution, facilitating rapid and cost-effective transactions to ensure smooth scalability. With numerous exciting developments in the pipeline, including the release of three new games, partnerships with high-profile companies like Ubisoft and Transak, and collaborations to enhance mobile RPGs, the future of Immutable X in the world of Web3 gaming seems bright.

Nonetheless, acknowledging potential hurdles that could hamper its progress is crucial. Some of these challenges include:

  • Technical complexities
  • Regulatory considerations
  • User acquisition
  • Gameplay enhancement

Despite these potential obstacles, industry experts, including Polygon’s founder Sandeep Nailwal, anticipate a substantial growth in the blockchain ecosystem by 2024, with Immutable X playing a crucial role in the future of Web3 gaming.

Summary

In conclusion, Immutable X is a revolutionary Layer-2 scaling solution for NFTs on Ethereum that offers a flexible framework for creating decentralized markets and games. Its unique features, such as zero-knowledge proof technology, low transaction fees, high speeds, and Web3 integration, make it a standout platform in the blockchain space. The versatility of IMX tokens, the native utility token of Immutable X, further enhances its appeal.

The future of Immutable X in the realm of Web3 gaming looks promising. As it continues to evolve and innovate, it’s clear that Immutable X is poised to revolutionize the NFT and gaming landscape on Ethereum. So whether you’re a developer, a gamer, or an investor, there’s no better time to explore the world of Immutable X.

Frequently Asked Questions

Is IMX a good investment?

Yes, investing in Immutable X has been profitable based on historical data, with a 185.72% increase in price over the last year. This suggests it could be a good investment opportunity.

How can I integrate Immutable X into MetaMask?

To integrate Immutable X into MetaMask, navigate to the Immutable Marketplace, click on 'Connect Wallet,' and select 'MetaMask' from the available wallet providers.

How does Immutable X ensure the security and protection of assets?

Immutable X ensures the security and protection of assets through the use of STARK zk-rollups technology, giving users control over their assets, utilizing a decentralized network, and avoiding centralized control over user assets. This helps to safeguard assets and transactions effectively.

Who Is the Founder of Immutable X? 

Immutable X was co-founded in 2018 by James Ferguson, Robbie Ferguson, and Alex Connolly.

Read more: Immutable X (IMX): The Best Layer 2 Scaling Solution for NFTs

How To Store IMX

As an ERC-20 token, you can store IMX in Ethereum-compatible wallets such as MetaMask, Trust Wallet, Guarda, and Atomic Wallet.

How To Buy IMX

You can buy IMX from any top crypto exchange, including Bybit. On Bybit, you can trade IMX as a USDT Spot pair (IMX/USDT) or as a USDT perpetual (IMXUSDT).

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