Following a record breaking number of registrants for Immutable X – more than 720,000 unique accounts – the platform sold out its IMX tokens on CoinList. They were valued at over $12.5 million and sold out in less than one hour, Invezz learned from a press release. Protocols like Flow, Solana (SOL/USD), and Efinity ran on the same platform.
Just 3.6% of registrants could purchase IMX
Even though the platform limited purchases to $100 – $500 per person, just 25,000 of registrants (3.6%) could buy tokens due to demand. After Immutable announced its $60M funding series B, the sale was officially over.
Ethereum’s “Stripe for NFTs”
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IMX has the ambition of being Ethereum’s (ETH/USD) “Stripe for NFTs”. Immutable X is the second-biggest crypto’s flagship zero-knowledge rollup protocol to mint and trade NFTs without gas. Immutable has announced integrations with OpenSea, TokenTrove, and other marketplaces. It’s powering NFT platforms of the caliber of SuperFarm, Illuvium, GreenPark Sports, and MyCryptoHeroes+.
Hyper-secure scaling protocol
The ultra-secure protocol was developed in partnership with StarkWare. The IMX token aims for protocol growth acceleration. Users who trade on any game, marketplace, or app based on Immutable X can earn IMX. The token helps grow a scalable NFT ecosystem via trading, app development, and providing liquidity among other pro-network activities.
Robbie Ferguson, co-founder of Immutable X, is delighted by the development:
“We’re beyond thrilled with this response. It’s insane. We’re excited to help take NFT businesses mainstream with hundreds of millions of NFT transactions per day, without compromising on security, liquidity, or most importantly – living on blockchain’s version of the open internet: Ethereum.”
Supporters can access tokens via grants
Supporters who didn’t manage to acquire IMX tokens during the token sale can do so through developer grants and other community initiatives in the future. At the moment, NFT developers can earn as much as 30,000 IMX if they launch their projects on the platform by the end of September.
Immutable created first layer 2 scaling solution for NFTs on ETH
Immutable has made a series of amazing capabilities possible, such as zero gas fees, high scalability (minimum of 9,000 trades per second), and instant trade confirmation. All of this has been done without compromising user custody. The protocol brings transparency to the world of NFTs, giving buyers and sellers real digital property rights.
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