Immutable X IMX/USD is a layer-2 scalability protocol for NFTs on the Ethereum blockchain.
What this essentially means is that it enables transactions to occur much more quickly when compared to Ethereum and requires lower computing power, which results in an overall decrease in the environmental impact.
Are you looking for fast-news, hot-tips and market analysis?
Sign-up for the Invezz newsletter, today.
In order to achieve this level of scalability, Immutable X uses what is known as StarkWare’s StarkEx zero-knowledge proof technology on Ethereum.
The GameStop partnership for an NFT marketplace as a catalyst for growth
On December 15, we covered how ECOMI integrated with Immutable X as a means of moving millions of premium NFTs to Ethereum.
On February 3, 2022, Immutable X made an official announcement on Twitter that they had conducted a partnership with GameStop.
The goal of this collaboration is to launch an NFT marketplace, and as part of it, a $100 million fund was created designed to provide grants to game developers as well as studios that have an interest in building on Immutable X and the NFT marketplace.
This NFT marketplace launch has the potential to boost the interest as well as the value of the IMX token.
Should you buy Immutable X (IMX)?
On February 4, 2022, Immutable X (IMX) had a value of $3.19.
The all-time high value of Immutable X (IMX) was on November 26, 2021, when the token reached a value of $9.52. Here, we can see that at its ATH, the token was $6.33 higher in value or by 198%.
When we go over the value of Immutable X (IMX) throughout the previous month, the token’s highest point of value was on January 2, 2022, when it reached $5.03 in value.
Its lowest point, however, was on January 24, when the token decreased in value to $2.06.
This gives us an indication that from the span of January 2 to January 24, the token decreased in value by $2.97 or by 59%.
However, from January 24 to February 4, the token saw an increase in its value by $1.13or by 54%.
With this in mind, IMX can reach $4 by the end of March 2022, making it a solid token to buy.
Where to buy right now
To invest simply and easily, users need a low-fee broker with a track record of reliability. The following brokers are highly rated, recognised worldwide, and safe to use:
- Etoro, trusted by over 13m users worldwide. Register here >
- bitFlyer, simple, easy to use and regulated. Register here >
