What is ImmutableX
Immutable X, originally founded as Fuel Games in 2018 and rebranded in 2019, emerged from the creators of the blockchain-based card game Gods Unchained. Recognizing the limitations of Ethereum gas fees and aiming to enhance the blockchain gaming experience, Immutable X was developed as a layer-two solution secured by Ethereum. Powered by StarkWare’s zk-rollup technology, Immutable X focuses on NFT minting and Web3 games, with notable partnerships and achievements in the blockchain gaming industry.
Immutable X Technology
- zk-rollup Scaling Engine
Immutable X utilizes the zk-rollup scaling engine developed in collaboration with StarkWare, employing the StarkEx prover and verifier. This technology allows assets to be minted on the second layer without compromising the security of the first layer. The zk-rollup process involves locking assets in on-chain smart contracts, trading them on the layer-2 chain, and providing validity proof on the L1 chain. This proof is then published on-chain and verified by a smart contract, updating the on-chain state.
- Advantages Over Layer-One Chains
Immutable X overcomes the limitations of NFT-related protocols on Ethereum’s layer-one chain, offering more than 9,000 transactions per second, a superior user experience with integrated credit card payments, and streamlined development through simple APIs and platform-specific SDKs.
Immutable X Team, Investors, and Roadmap
Immutable X is led by James Ferguson, supported by his brother Robbie Ferguson, with backing from reputable crypto VC funds like Coinbase, Naspers, Nirvana Capital, Apex Capital Partners, Continue Capital, and Galaxy Digital.
With the Ethereum Merge completed, the project aims for continuous development alongside the scaling Ethereum ecosystem, forging partnerships and introducing tools like the wallet SDK to improve the developer experience.
Immutable X Tokenomics
The IMX token, an ERC-20 token, rewards network activities such as trading, liquidity provision, and application development.
IMX holders participate in governance, voting on proposals, while fees earned through the protocol can be paid directly in IMX. The total supply of IMX tokens is capped at 2 billion.
Milestones and Developments
Immutable X has achieved significant milestones, from its inception in 2018 to raising substantial funding in Series C and D rounds, valued at $3.5 billion.
Partnerships with major players like Disney and GameStop highlight its impact on the NFT and blockchain gaming landscape. The launch of the Immutable Grants program in 2023 demonstrates its commitment to nurturing the next generation of Web3 games.
Benefits of Using Immutable X
Immutable X offers a range of benefits, including instant trade execution, zero gas fees, remarkable scalability, carbon-neutral NFTs, enhanced security with zk-rollups, interoperability within the Ethereum ecosystem, and a user-friendly experience. Specialized features for gamers and developers, such as a built-in wallet, global order book, and APIs/SDKs, contribute to its appeal.
