This cryptocurrency is centred on NFTs, which is among the most important developments in blockchain technology in recent years. The coins are issued and distributed by Digital Worlds NFTs, an entity that is a partner of the blockchain company. As noted in the token’s whitepaper, the maximum number of IMX tokens that will ever exist is 2 billion. With a hard cap on the number of tokens, it is highly unlikely that the price of the cryptocurrency will go down in the long term.
Briefly about Immutable X
This cryptocurrency was developed by James Ferguson, a man who has previously appeared on the Forbes 30 Under 30 list. His brother, Robbie Ferguson, also played a major role in the creation of the cryptocurrency. The network is used to mint NFTs, and any trades made will earn you Immutable X tokens.
The first layer 2 for NFTs on Ethereum with zero gas fees and instant trades.CryptoLists.com
This altcoin is meant to be used on the Immutable X blockchain, and it is distributed via a multi-stage play to earn campaign. This way, the company is able to ensure that the tokens are mostly held by people who are committed to the protocol. You can earn the token by completing actions that benefit the protocol. For example, you can trade NFTs to get tokens as a reward.
Utility of Immutable X?
This cryptocurrency is meant to be used by NFT creators and traders. Anyone who needs to trade digital assets on this network has to pay transaction fees using Immutable X coins, and this means they have to purchase the token first. Also, holders of the token can earn interest by staking their assets, and these rewards are only available to people who hold NFTs on Immutable X. The token can also be used for regular payments online, just like other cryptocurrencies.
Immutable X Price detailsERC20 Contract address: 0xF57e7e7C23978C3cAEC3C3548E3D615c346e79fF
›› IMX tokenomics and social media
Advantages at Immutable X+ The transfer fees are very low when using Immutable X.
+ IMX supports the leading NFT scaling network.
+ It is carbon neutral.
+ IMX investors can earn interest by staking their coins.
Disadvantages- The coin is relatively new.
- It isn’t available on so many crypto exchanges yet.
- IMX faces competition from other established tokens.
Costs▪ Rated at 10/10
The transfer fee of this cryptocurrency is 2% of the base price. When transacting tokens on the blockchain, you should remember that at least 20% of the fee must be paid in IMX tokens. If you don’t hold any IMX tokens, you can simply use coins like ETH, but these will be swapped automatically for Immutable X tokens on the open market.
Reputation and Buzz▪ Reputation rated at 9/10
▪ Buzz rated at 9/10
This altcoin has developed a good reputation among NFT enthusiasts, as well as the greater crypto community. The coin is essential to the functioning of the network, and it features very low transfer fees. Most discussions about the token are held on Twitter, where the crypto account has more than 222,000 followers. Some of the things people like about the network are its low transfer fees, its scalable nature, the high transaction speed, and its environmentally-friendly nature.
How can I stake my Immutable X?
For your tokens to be staked, you have to hold the cryptocurrencies on L1 or L2. You must also have voted on a governance proposal in the past 30 days. The blockchain also requires holders to hold NFTs on the network. If you don’t have any NFTs, you must have completed a trade in the past 30 days.
How can I purchase Immutable X tokens?
In order to purchase these tokens, you will have to create an account on a suitable crypto exchange. Some platforms that allow users to purchase the token include Swissborg, FTX, OKEx, Huobi Global and Bybit. In most cases, you will have to first buy BTC or ETH and convert them to IMX.
Do I have to buy IMX in order to make transfers on the blockchain?
No, you will not have to buy this token in order to make transfers on the blockchain. You can simply make transfers with other cryptocurrencies, and they will be converted to IMX automatically. The network requires at least 20% of the transfer fee to be paid in its native cryptocurrency.
What is the maximum supply of this cryptocurrency?
The maximum number of IMX coins that will ever be minted is 2 billion. These coins are developed and distributed by Digital Worlds NFTs, which is a partner of Immutable X.
Does this network have any gas fees?
No, one of the biggest benefits of this network is that it does not have any gas fees. However, individuals have to pay a transfer fee of 2% when transacting on the blockchain.