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Immutable X, the Layer-2 scaling solution for NFTs on Ethereum brings along the benefits of zero gas fee, high transaction throughput, and instant trade confirmations. Besides, this scaling solution also claims to be 100% carbon neutral.
IMX on CoinList
The non-fungible tokens (NFTs) have gained massive popularity this year in 2021. This rapid surge in NFT trading has further cluttered popular blockchain platforms like the Ethereum blockchain. Thus, to further cater to the rising demand of NFTs, Immutable is building scalability solutions for NFTs. The official announcement notes:
“NFTs are only as valuable as the security and popularity of the blockchain they are built on, and Immutable X is built to leverage Ethereum’s security and network effects so more people can access world-class NFTs.”
The IMX token sale will happen with the two public options:
- The first option will have an IMX token supply of 400,000 tokens each priced at $10. This will include a 6-month lockup with linear releasing from October 19, 2021.
- The second option will have an IMX token supply of 600,000 tokens each priced at $15. This will include a 3-month lockup with linear releasing from October 19, 2021.
As said, Immutable X is the first Layer-2 scaling solution for NFTs on the Ethereum blockchain. It brings along several benefits like instant trade confirmations, zero gas fee, and a high transaction throughput of over 9000 TPS.
The platform also allows developers to build their native NFT marketplace and unique experiences. Developers can do this by leveraging the underlying scaling technology from StarkWare, simple developer APIs and SDKs. To further enhance NFT trading, developers can bring NFT-native wallet experience along with liquidity primitives.
Key Benefits with Immutable X
As said, the Immutable X brings along three major benefits:
- Zero Gas Fee – High gas prices have always been a deterrent to greater participation in the NFT market. Built atop StarkWare’s bleeding edge zk-rollup technology, Immutable X allows users to instantly mint and trade NFTs at zero gas costs.
- Fast and Secure – The Immutable X protocol offers transactions throughput speeds in multiple of that on Ethereum. Besides, the protocol is completely non-custodial, meaning, users have full control over their assets along with the security of the Ethereum blockchain.
- Build Instantly – The Immutable X protocol makes it easy to use Ethereum on a mainstream scale. Thus, there’s no trade-off between the underlying technology and user experience. Moreover, the APIs also provide a lower entry barrier for developers t build projects on the Ethereum blockchain.
Recently, there have also been environmental concerns raised over the high trading activity of NFTs. Immutable X claims that its Layer-2 NFT scaling solution is 100% carbon neutral.