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Immutable

<p class="is-style-lead">In an Oct. 17 post on X, Immutable co-founder Robbie Ferguson shares the news that the vesting of $67 million in token rewards will be delayed until July 2024.</p>
<p>The move is said to enhance the Web3 game development platform’s long-term sustainability.</p>
<h2 class="wp-block-heading" id="token-unlock-postponed">Token unlock postponed</h2>
<p>According to the post, Immutable committed to re-locking 125M $IMX of the project’s dev allocation for another year, meaning that it would be just a few weeks from now the tokens were scheduled to unlock. In a follow-up post, Ferguson stated that when the tokens do unlock in July, they will be done on a linear monthly vesting schedule over time rather than a cliff.</p>
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   <p lang="en" dir="ltr">1/ We're here for the long run.<br><br>Last year, we committed to re-locking 125M <a href="https://twitter.com/search?q=%24IMX&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$IMX</a> of <a href="https://twitter.com/Immutable?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">@Immutable</a>’s Project Dev allocation for another 1 year. A few weeks from now, these tokens are scheduled to unlock.<br><br>We’re proud to once again re-lock this allocation until July 2024 at a minimum.</p>— Robbie Ferguson 🅧 | Immutable (@0xferg) <a href="https://twitter.com/0xferg/status/1714270599214981164?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">October 17, 2023</a>
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<p>At the same time, the thread on X highlights that Immutable holds 25% of supply of the IMX token on the platform’s balance sheet, quoting “long-term alignment.” Many of the tokens are said to still be held by long-term aligned token holders – with 90% said to never have been sold.</p>
<p>You might also like: <a href="https://crypto.news/immutable-taps-amazon-to-boost-web3-gaming-adoption/" rel="noopener noreferrer nofollow"> Immutable taps Amazon to boost web3 gaming adoption </a></p>
<p>Immutable is said to have roughly four years of runway with 270 employees, alongside significant scaling of their headcount in Japan and Korea.</p>
<h2 class="wp-block-heading" id="expanding-strategic-partnerships">Expanding strategic partnerships</h2>
<p>These actions continue to show that, in Ferguson’s words, “bear runs are for building.”</p>
<p>Just days earlier, on Oct. 11, Immutable announced its partnership with Amazon Web Services (AWS) in a move that would make it easier for game developers to launch products on blockchain networks, showing their development to long-term growth.</p>
<p>Read more: <a href="https://crypto.news/immutable-x-imx-price-rises-amid-upbit-listing/" rel="noopener noreferrer nofollow"> Immutable X (IMX) price rises amid Upbit listing </a></p>

Immutable extends token vesting period another year

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