ImmutableX

ImmutableX In-depth Report Generated by AI - For further details, please review:

https://alpha.sosovalue.xyz/trade/IMX-USDT-BINANCE

1)What is IMX?

Immutable X (IMX) is a layer 2 scaling solution for non-fungible tokens (NFTs) on the Ethereum blockchain. It addresses Ethereum's limitations, such as scalability, poor user and developer experience, and liquidity issues. Immutable X employs StarkEx ZK-Rollup technology, endorsed by Ethereum co-founder Vitalik Buterin, to offer zero gas fees for trading NFTs without compromising security. This approach allows for up to 9,000 transactions per second (TPS).

The platform also includes a marketplace and a minting tool for NFTs, designed to lower entry barriers for content creators and developers. It offers zero gas fees for peer-to-peer trading, custom trading fees, and allows users to keep their private keys. Immutable X aims to cater to users of all experience levels, focusing particularly on entry-level crypto users and providing a growth platform for NFT businesses.

2)Which sector does IMX belong to?

Immutable X belongs to the Layer 2 sector in the blockchain space. This sector is characterized by solutions that build on top of existing blockchains, like Ethereum, to enhance scalability and performance.

Current Situation of Layer 2 Sector:

• Rapid Growth and Expansion:There has been a significant proliferation of Ethereum Layer 2 networks. These networks are designed to provide fast and efficient transaction processing at lower costs than the Ethereum mainnet. The expansion of these networks is a key trend as blockchain developers move towards the end of 2023.
• Interoperability Focus:A growing theme in the sector is interoperability—the idea of connecting different blockchains and layers to make navigation across the broader ecosystem more manageable.
• Implementation of New Technologies:New Ethereum Virtual Machine (EVM)-compatible ZK rollups, like Zircuit, are being launched. These use a hybrid approach that combines zero-knowledge proofs with optimistic infrastructure, leading to more efficient proof generation, reduced fees, and faster transaction speeds.
• Growing Interest from Major Platforms:Large crypto exchanges and platforms are showing interest in developing their own Layer 2 solutions. For instance, OKX has disclosed plans to build a Layer 2 network using Polygon's technology.

Development Prospects of the Layer 2 Sector:

• Continued Growth:Despite a bearish market, Layer 2 solutions like Arbitrum have shown resilience and growth. Arbitrum's total value locked (TVL) has stabilized around USD $1 billion, and the number of active wallet addresses has significantly increased.
• Increased Scalability and Reduced Costs:The introduction of technologies like Arbitrum Nitro has substantially increased throughput and decreased gas fees, which is crucial for scalability.
• Potential for Token Launches:The prospect of Layer 2 solutions launching their native tokens, similar to Optimism, could lead to surges in speculative activity and increased liquidity.
• Shift Towards Layer 2 Decentralized Exchanges (DEXs):With stricter compliance policies and restrictions on derivatives by various countries, there is an anticipated trend of users migrating to Layer 2 DEXs.
• Overall Market Outlook:Layer 2 is considered a rare growth point in the cryptocurrency ecosystem, with 2023 expected to be an exciting year for its growth despite the overall market slumps.

3)What is tokenomics of IMX (includes allocation and supply schedule)?

Token IMX was launched in Nov 2021. The initial supply is 2 billion, the current circulation is 1.25 billion, the circulation accounts for 62.5%, the market value is 1.71 billion US dollars, and the FDV is 2.72 billion US dollars. The token has decreased 2 times since its launch Token Allocation

Token Allocation

• Ecosystem Development:51.72% (approximately 1.03 billion IMX) is dedicated to this category. It includes initiatives like Daily Rewards and Developer Grants.
• Project Development:25% (about 500 million IMX) is allocated here.
• Private Sale:Accounts for 13.86% (around 277.14 million IMX).
• Public Sale 1: Allocated 2.94% (58.80 million IMX).
• Public Sale 2: Receives 2.48% (49.60 million IMX).
• Foundation Reserve:4% of the tokens (80 million IMX) are reserved for this purpose.

Tokenomics Features:

• Ecosystem Development Allocation:This includes Daily Rewards, distributed every 24 hours to users based on their share, with 66.67% subject to a six-month linear lock to encourage long-term growth. Developer Grants are awarded to those developing on IMX, with funds allocated both directly by the Foundation and via decentralized governance.
• Project Development Re-locking:IMX announced the re-locking of 125 million IMX from the Project Development allocation until July 2024.

Initial Coin Offering (ICO) Details:

• For Public Sale 1, the price was set at $0.15 per IMX, with 40 million tokens for sale. The vesting schedule included a 6-month linear release starting around October 19, 2021.
• Public Sale 2 had a token price of $0.10 per IMX, offering 60 million tokens. The vesting for this phase was a 3-month linear release starting around the same date. Overall Supply Mechanism:

Immutable X has a max supply of 2 billion IMX tokens.

• The token supply schedule ensures transparency in the circulation of IMX tokens. Staking rewards and the Grants Dashboard are part of the ecosystem, incentivizing participation and development on Immutable X.

4)What about the team and the investors of IMX?

Team Behind IMX

• Founders:Immutable X was founded by brothers James Ferguson and Robbie Ferguson. James, a Forbes 30 Under 30 entrepreneur, previously led a software development team at a billion-dollar eCommerce company before co-founding Immutable X. Robbie Ferguson, also a Forbes 30 Under 30 entrepreneur, is a Thiel fellow. Both are alumni of the 2019 Forbes 30 Under 30 Asia list.
• Initial Project:Initially, the company started as Fuel Games in 2018, focusing on developing and publishing NFT-based games like Gods Unchained and Guild of Guardians. It later rebranded as Immutable in 2019 and added an NFT exchange platform.
• Team Composition:The Immutable team includes a diverse group of over 100 members from various backgrounds, including FAANG, traditional finance, fintech, and management consulting areas.
• Key Executives:The company has hired four C-suite executives to meet its global expansion plans: Gill Findlay as Chief Operating Officer, John Boris as Chief Growth Officer, Justin Hulog as Chief Studio Officer, and Katherine Rau as Chief People Officer

Funding History

• Series C Funding Round:Immutable raised $200 million in a Series C funding round, valuing the company at $2.5 billion. The round was led by Temasek, a Singapore government-owned investment company, and included new investors such as Animoca Brands, Tencent, ParaFi Capital, Arrington Capital, Mirae Asset, and Liberty Global. Previous investors, including Alameda Research, AirTree Ventures, Declaration Partners, and Fabric Ventures, also participated.
• Expansion Plans:With the capital raised, Immutable plans to expand globally, scale its team, and explore mergers and acquisitions. The company, based in Australia, aims to increase its team size significantly across various functions.
• Total Funding to Date:Following the Series C round, Immutable's total funding exceeded $277 million. Before this, the company had raised $60 million at a $410 million valuation in September of the previous year.
• Support from Venture Capital Funds: Well-known cryptocurrency venture capital funds supporting Immutable X include Coinbase, Naspers, Nirvana Capital, Apex Capital Partners, Continue Capital, and Galaxy Digital.

5)What is the development history of IMX?

List all important events and milestones in the development process of IMX. Significant Milestones in IMX's Development（updated to 2023）

• Founding and Initial Development (2018): Immutable X was founded in 2018 by James and Robbie Ferguson, along with Alex Connolly. The company's inception was inspired by the success of Etherbots, their initial Blockchain-based game, highlighting the need for a scalable solution for the NFT gaming ecosystem on the Ethereum Blockchain. This led to the development of Immutable X's Layer 2 scaling solution for NFTs.
• Series A Funding (2019): Immutable X secured a significant boost with a $15 million Series A funding round led by Galaxy Digital Ventures. This funding was instrumental in driving the project forward.
• Beta Mainnet Launch and Partnerships (2020): The beta mainnet of Immutable X was launched, marking a significant step in its development. This period also saw the commencement of partnerships with various projects.
• Mainnet Launch and Expanding Collaborations (2021): A major milestone was achieved with the launch of the Immutable X mainnet. The company also collaborated with renowned Blockchain gaming projects like Gods Unchained, Illuvium, and Guild of Guardians.
• Series C Funding and Token Introduction (2022): Immutable X raised $200 million in a Series C funding round, introducing its IMX token and marketplace. This round was led by Temasek, Animoca Brands, and Tencent.
• Partnership with GameStop (2022): Immutable X partnered with GameStop to launch a new NFT marketplace, powered by Immutable X’s technology, offering users a gas-free and instant trading experience.
• Series D Funding (2023): The company raised $280 million in a Series D funding round, valuing it at $3.5 billion. This round was spearheaded by the Singaporean sovereign fund Temasek, with significant contributions from Animoca Brands and Tencent.
• Immutable Grants Program (2023): Immutable X launched the Immutable Grants program to nurture the next generation of Web3 games, offering funding and mentorship to game developers working on Immutable X.
• Partnerships with Amazon AWS and Ubisoft: Immutable X established key partnerships with Amazon Web Services (AWS) and Ubisoft. These collaborations are aimed at revolutionizing the gaming landscape by integrating cloud data with the Ethereum blockchain and exploring the potential of 'digital ownership' in gaming.

6)What is the progress and future roadmap of it?

Future Roadmap and Developments The progress and future roadmap of Immutable X (IMX) for 2023 and beyond involves several key developments and strategic goals:

1. Platform Enhancements: Immutable X is focusing on improving its platform, including features like Immutable Passport, an instant wallet onboarding and authentication solution, and Immutable Orderbook for increased NFT liquidity. Long-term, they aim to streamline web3 complexities and maximize asset distribution.

2. Rollout of Immutable zkEVM: The launch of Immutable zkEVM, a chain specifically designed for games, is planned. It promises EVM compatibility, low cost, massive scale, and Ethereum security, aiming to become the default chain for games.

3. Layer-2 Scaling and Environmental Sustainability: Improvements in transaction speeds (up to 9,000 TPS) and a shift towards ecological sustainability following Ethereum's transition to Proof-of-Stake are key focuses.

4. Developer-Friendly Infrastructure: Immutable has made development easier with its SDKs and REST APIs, and the Immutable Link SDK facilitates third-party NFT wallet integration.

5. Global Order Book and Market Integration: A shared global order book has been introduced for swift integration with NFT marketplaces, enhancing liquidity and trade volume.

6. Strategic Partnerships and Funding: Immutable X has grown through partnerships and funding rounds, including a $60 million Series B and a $200 million Series C funding. A partnership with GameStop led to the launch of the GameStop NFT Marketplace and a $100 million grant fund.

7. IMX Token Launch and Community Engagement: The launch of the $IMX Coin, used for fees, staking, and governance, and over half of its supply is allocated for community incentives, such as user rewards and developer grants. The IMX Trading Rewards program encourages community participation.

Immutable X Official Website:

https://www.immutable.com/

Immutable X Roadmap:

https://www.immutable.com/blog/product-roadmap

IMX Tokenomics:

https://www.coingecko.com/en/coins/immutable-x

IMX Development History:

https://www.blockchain-council.org/blockchain/what-is-immutable-x-imx-explained/

Recent Developments and Partnerships:

https://www.ccn.com/crypto/immutable-soars-after-amazon-and-ubisoft-deals-where-is-imx-headed/

2023 Major Developments for IMX:

https://cryptomode.com/5-major-developments-for-immutable-imx-in-2023/

8)Bullishness index for this token from the perspective of token valuation and future potential from Chatgpt 4

As of the latest data, Immutable X (IMX) is valued at approximately $1.36 per token, with a market capitalization of around $1.285 billion. The circulating supply of IMX tokens stands at approximately 570.35 million, out of a total supply of 2 billion tokens. Looking at the future prospects of IMX based on current data and expert analyses, here are the price predictions for the coming years:

• 2023: The price of IMX is expected to range between $1.47 and $1.58, with an average trading price around $1.54. The potential return on investment (ROI) for this period is estimated at 12.1%.
• 2024: Price predictions suggest that IMX could reach a minimum price of around $2.20 and a maximum of approximately $2.58. The average trading price might hover around $2.26, with a potential ROI of 83%.
• 2025: IMX is expected to be valued between $3.22 and $3.81, with an average trading cost of around $3.31. The potential ROI for this period is projected at 170.2%.
• 2026: Analysts predict the minimum IMX price could drop to $4.45, while the maximum could reach $5.49. The average trading cost is expected to be around $4.59, with a potential ROI of 289.4%.
• 2027: The price of IMX is anticipated to fluctuate between $6.54 and $7.78, with an average price around $6.73. The potential ROI for this period is estimated at 451.8%.
• 2028: The average IMX price is expected to be around $9.77, possibly ranging from $9.51 to $11.40. The potential ROI for this period is projected at 708.5%.
• 2029: IMX might be traded between $14.52 and $16.73, with an average cost expected at around $14.91. The potential ROI for this period is estimated at 1086.5%.
• 2030: Analysts forecast a maximum IMX price of $24.80 and a minimum of around $20.92, with an average trading price expected to be $21.66. The potential ROI for this period is projected at 1658.9%.
• 2031: The IMX price could be traded for at least $30.61, with possible maximum peaks at $35.98. The average expected price is around $31.47, and the potential ROI is estimated at 2451.8%.
• 2032: The maximum IMX price could reach $52.35, with a possible drop to around $43.72. The expected average trading price is $45.29, and the potential ROI is projected at 3612.8%.