About the Immutable X ICO
What Is Immutable X (IMX)?
Immutable X is the first layer-2 scaling solution for NFTs on Ethereum, with instant trade confirmation, massive scalability (up to 9,000+ trades per second), zero gas fees — without compromising user custody. The protocol is built on top of StarkWare’s proving technology, which allows users to retain access to Ethereum’s ecosystem and network effects.
IMX is an ERC-20 utility token for the Immutable X protocol that is designed to drive the adoption of NFTs and help creators, players and developers reimagine value in a digital ecosystem. It will be used for:
- Staking to earn rewards.
- Pay transaction fees.
- Voting for proposals.
Immutable X offers:
- Gas-free and instant trades
- Self-custody for NFTs.
- A true Layer-2 secured by Ethereum.
- NFTs that are carbon neutral.
How Many IMX Tokens Are There?
There’s a hard cap of 20 million IMX tokens. they will be provisionally allocated in the following areas: * Project Development: 25.00% * Incentives (including User Rewards and Developer Grants): 51.50% * Early Purchasers: Up to 17.00% * Issuing entity (Digital Worlds): 6.50%
Who’s the team behind Immutable X?
James Ferguson (Co-Founder) Forbes 30 Under 30: James previously led a software development team at a billion dollar eCommerce company. He holds a Bachelor of Laws and a Bachelor of Commerce (Finance) from the University of Sydney. He taught himself how to code by doing the MIT curriculum online, and moving to Silicon Valley in 2014. Together with his brother Robbie, they have previously built multiple businesses, including an ecommerce platform that utilised machine learning to optimise conversion rates, as well as a cryptocurrency arbitrage trading and lending fund. After getting involved with Ethereum in 2015, they fell down the rabbit hole and since then have built the world’s first multiplayer blockchain game, the first blockchain TCG and the first zk-rollup for NFTs.
Robbie Ferguson (Co-Founder) Forbes 30 Under 30, Thiel Fellow: Robbie previously built an automated capital gains tax platform at KPMG which was licensed to Australia’s largest cryptocurrency exchange. He became obsessed with Ethereum in 2015, and dropped out of a Computer Science/Law degree at the University of Sydney to found Immutable. He was awarded the Thiel Fellowship in 2020. Robbie believes that future generations will spend most of their waking hours in virtual reality, and wants to ensure the digital worlds they live in are as economically meaningful as the one we currently inhabit.
Alex Connolly (CTO): Alex has been passionate about in-game assets his entire life. At 9, he wrote scripts to gather pricing data from the Runescape grand exchange. At 13, he was the top contributor to the largest TF2 item pricing website in the world, while playing as a semi-pro at the same time. At 17, he graduated high school as the equal-highest ranked student in Australia after achieving a perfect score in the International Baccalaureate. Alex became involved in the Ethereum open-source ecosystem in 2017, building a blockchain agnostic programming language for smart contract VMs. He joined Immutable after dropping out of a combined Computer Science/Law degree at the University of Sydney. In April 2019, Alex popularised the most scalable system for creating NFTs then designed, which has been used to create millions of Gods Unchained cards with no network impact on Ethereum, now commonly referred to as “batched minting.” He is now making all of this work obsolete via Immutable X.
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