Immutable (IMX)
Immutable X is a layer-2 scaling solution developed on the Ethereum blockchain. It is designed to improve the performance of non-fungible tokens (NFTs) by providing instant confirmations and low transaction fees. Founded by James and Robbie Ferguson in June 2018, the platform operates using the IMX token.
The company behind Immutable X
Background
Immutable, previously known as Fuel Games, is an Australian gaming company responsible for the NFT trading card game Gods Unchained. The company also supports the Immutable X platform. Gods Unchained allows players to earn and trade unique NFTs, which can be verified through blockchain technology.
| Ticker | IMX |
| Category | Smart Contract Platform |
| Website | https://imx.community/ |
| @Immutable | |
| Telegram | immutablex |
| https://www.reddit.com/r/ImmutableX/ | |
| Contract Addresses | |
|---|---|
| ethereum | 0xf5...ff Copied! |
Development with StarkWare
In 2020, Immutable collaborated with StarkWare to enhance its platform by leveraging Ethereum's security and minimizing fees. This partnership resulted in the creation of Immutable X, which uses StarkWare's layer-2 scaling technology.
Funding
Immutable secured $15 million in a Series A funding round led by Naspers Ventures and Galaxy Digital EOS VC Fund. These investments aim to support the development of the Immutable X platform and its associated projects.
Functionality of Immutable X
Layer-2 solutions
Immutable X offers users two distinct layer-2 solutions: ZK Rollups and Validium. The platform refers to the decision-making process between these options as "Volition."
ZK Rollups
ZK Rollups aggregate numerous transactions into a single transaction, which smart contracts can later dissect for verification. This method reduces storage and computational requirements while maintaining transaction security and allowing for instant confirmations.
Validium
Validium is similar to ZK Rollups but does not submit transaction proofs back to the Ethereum layer. This approach enhances transaction speed and requires a trusted authority for oversight.
Immutable X Exchange
Immutable X Exchange is a peer-to-peer NFT marketplace that operates with zero gas fees and processes over 9,000 transactions per second. The platform supports both ERC-721 and ERC-1155 token standards, enabling users to buy and sell NFTs quickly and securely.
IMX Token
The IMX token is an ERC-20 utility token that incentivizes network activities such as trading and development. It is used for protocol fees, staking, and decentralized governance, allowing token holders to vote on proposals related to the platform.
Partnerships and collaborations
Notable partners
Immutable X collaborates with several prominent NFT projects, including:
- Gods Unchained
- OpenSea
- Mintable
- RTFKT Studios
- HighRise
- TokenTrove
- SuperfarmDAO
- Epics.GG
- Illuvium
- Lucid Sight
- War Riders
- Guild of Guardians
- doublejump.Tokyo Inc
- Crypto Assault
Partnership with Polygon
In March 2023, Immutable announced a partnership with Polygon to introduce Immutable zkEVM, a type of zk-rollup compatible with the Ethereum Virtual Machine. This collaboration aims to simplify and accelerate the development of web3-enabled games.