Published in: Blog

ImmutableX

Author Bacoor Team

Published on: March 20, 2023

As of March 2023, ImmutableX has officially become a Unity Verified Solution partner. This is a massive step forward for Web 3 gaming.

One of the most extensive collaborations recently is between ImmutableX and the popular Iluvium, gaining a lot of attention in the thrilling GameFi industry.

https://twitter.com/Immutable/status/1631391486628745217

Table of Contents

Latest News

Robbie Ferguson – the co-founder and president of the project has tweeted that the most significant token utility upgrade in history goes to $IMX, which will happen in a few hours as of today – Mar 20, 2023.

https://twitter.com/0xferg/status/1637605446780583936

On Mar 21, 2023, Immutable Keynote Event Livestream will be hosted on Youtube where the co-founder and president Robbie Ferguson unveils some exclusive updates, game premieres, and new partnerships.

What is ImmutableX?

ImmutableX is the ultimate solution for building and scaling web 3 games on Ethereum.

With over 150 developers building on the network, the platform is listed as one of the Web 3 Gaming ecosystems.

The studio currently develops popular games such as Gods Unchained, and Guild of Guardians.

ImmutableX is advancing the world of the non-fungible token (NFT) games through the development studio, allowing gamers and content creators to be frictionlessly onboard, engage, and break through their limitations while exploring web 3.

Furthermore, it acts as a platform that provides Layer-2 solutions on decentralized Layer-1 Ethereum; specifically, APIs and other developer tools to build.

Functionalities Provided by ImmutableX

Application	Functionality
Blockchain	Easily access data of past transactions and trades
Token and assets trading	Global order book enabling maximum liquidity
Game and in-game assets	Offer a self-custodial wallet, and global order book for in-game assets trading

How does ImmutableX work?

Trading and minting NFTs on Ethereum can be expensive, especially during peak times. Users would have to be paying high gas fees to have their transactions confirmed quickly.

ImmutableX offers instant transaction confirmations and zero gas fees, aiming to improve Ethereum’s scalability and user experience.

ImmutableX is a scalable NFT minting tool

ImmutableX uses a tool called Zero-Knowledge rollup to achieve scalability.

Instead of adding every single transaction data to the blockchain, ZK rollup batches hundreds of transactions into a single proof, then proof then is submitted to the blockchain through smart contracts.

The smart contracts then validate and publish transactions. In that way, the minting process is more efficient.

ImmutableX is a marketplace network

ImmutableX offers a global order book that allows the NFTs to be bought and sold on any marketplace that implements a scaling solution.

This can improve NFT trading volume and liquidity.

ImmutableX is a reliable and all-in-one NFT trading endpoint

Users can easily mint and trade NFTs at lower costs without compromising the security of their assets, via API calls.

ImmutableX APIs and wallets are integrated into the platform through a system called SDKs. The set of APIs is responsible for simplifying complex blockchain interactions.

In this case, users can build their NFT projects.

About Cryptocurrency

$IMX is an ERC-20 governance token The token is used for

Paying transaction fees
Incentivizing users and developers on the platform
Staking in reward pools
Voting on community proposals

$IMX Price Statistics

As of today:

Trading Volume 24h	$121,992,526
Market Cap	$1,285,241,954
Volume/Market Cap	0.0951
Total Supply	2,000,000,000 IMX
Circulating Supply	868,583,515 IMX

(source Coinmarketcap)

Token Allocation

A total of 2,000,000,000 IMX will be provisionally allocated in the following areas:

Ecosystem development (user rewards, developer grants, liquidity, marketing): 51.74%
Project development (the development of the protocol): 25%
Private sale: 14.26%
Public sale: 5%
Foundation reserve: 4%