Immutable X has sold out its CoinList sale of more than $12.5 million USD in IMX tokens in less than one hour, with a record breaking number of registrants for the platform. The record-breaking sale was held on the same platform which ran the sales for protocols such as Solana, Flow, Efinity, and Dfinity.
Over 720,000 unique registered accounts signed up to participate in the sale. Purchases were limited to $100 – $500 per person and only 3.6% (roughly 25,000) of registrations were able to purchase due to demand. The sale was officially completed after Immutable announced its $60M USD Series B and off a wave of high profile business integrations.
IMX is the native token of Immutable X, aiming to be Ethereum’s “Stripe for NFTs”. Immutable X is Ethereum’s first zero-knowledge rollup (zk-rollup) scaling protocol for gas-free NFT minting and trading. The protocol has announced integrations with marketplaces such as OpenSea, Mintable, TokenTrove, and is powering some of the largest NFT plays across DeFi (SuperFarm), Collectables (Epics.GG), and gaming (GreenPark Sports, Illuvium, MyCryptoHeroes+).
The hyper-secure scaling protocol, built in partnership with StarkWare, launches in the wake of a string of security incidents around non-layer 2 solutions, such as the $600m Poly Network hack.
The IMX token is designed to accelerate the growth of the Immutable X protocol: every user who trades on any app, marketplace, or game built on top of Immutable X earns the token. It aligns incentives for users and developers who contribute to growing a scalable NFT ecosystem via pro-network activities, such as trading, liquidity provision and building applications. The full whitepaper can be found here.
While the token sale has come to an end, there are still opportunities for supporters to access the IMX tokens through developer grants and future community initiatives. Currently, NFT developers are encouraged to join the growing L2 ecosystem and earn up to 30,000 IMX when they launch their successful NFT projects on Immutable X by the end of September.
“We’re beyond thrilled with this response. It’s insane.” said Robbie Ferguson, co-founder of Immutable X,
“we’re excited to help take NFT businesses mainstream with hundreds of millions of NFT transactions per day, without compromising on security, liquidity, or most importantly - living on blockchain’s version of the open internet: Ethereum.”
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