Immutable X is a project that deserves review due to the token making it to top gainers chart on coinmarketcap. Nowadays, the cryptocurrency world is being driven by memes, shitcoins and non-functional tokens, created on several different networks and blockchains, which serve no purpose at all other than tricking users into trading those assets to create market fluctuations that are backed by no specific reason at all and are all artificially made. This mess must come to an end, and cryptoandreviews.com is here to do that.
The benefits of Immutable X are closely linked to the utility of the tokens which will be reviewed on this article.
Cronos, PancakeSwap and The Sandbox all had a quick run up when they were introduced into the market. Many people invested in the initial idea while others didn’t. You know the rest of the story as of today.
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Immutable X Review
About Immutable X
A lot of investors have hurriedly delved into investing on a project they have little knowledge about Due to Fear Of Missing Out. So on this article, we will review Immutable X token by explaining what the coin is about, tokenomics, roadmap, ICO, staking insights of the project, listing the pros and cons, the supply and how legit/safe the token is for investment.
What is Immutable X?
Immutable X positions itself as the first layer-two scaling solution for NFTs on Ethereum. According to Immutable X, its blockchain does away with Ethereum’s limitations like low scalability, a poor user experience, illiquidity, and a slow developer experience. Instead, users benefit from instant trading and massive scalability while enjoying zero gas fees for minting and trading NFTs without compromising user or asset security. To achieve that, Immutable X is built with STARK zk-rollups, a technology that Vitalik Buterin considers Ethereum to be “all-in on.”
Thanks to this technology, users will be able to create and distribute assets like ERC-20 and ERC-721 tokens on a massive scale. Chris Clay, the game Director of Gods Unchained, a project already building on Immutable X, stated that Immutable X allows Gods Unchained to implement a new meta-system that was previously impossible. In this fashion, Immutable X aims to create a world-class experience for users and developers alike.
Who Are the Founders of Immutable X?
Immutable X was founded by James Ferguson, a Forbes 30 Under 30 entrepreneur that previously led a software development team at a billion-dollar eCommerce company, and his brother Robbie Ferguson, a Thiel fellow and Forbes 30 Under 30 entrepreneur as well.
The team consists of more than 100 members from different backgrounds like blockchain, FAANG, finance, fintech, and management consulting. It raised a seed round in 2018 and a $15 million Series A in September 2019. Investors included some of the “who is who” in blockchain investing, such as Coinbase, Naspers, Nirvana Capital, Apex Capital Partners, Continue Capital and Galaxy Digital.
Immutable X Supply
There are 235,284,001.00 IMX in supply worldwide.
Pros and Cons of Immutable X
Pros of Immutable X
- There is a surge in the market price currently
- Project whitepaper available
- There is a community
- Contract on Ethereum
- They are fully decentralized
- A lot of investors are ‘flocking’ to invest
- It is listed on coinmarketcap
- Good navigational website – Immutable X
Cons of Immutable X
- The coin is still under research and development
- Multiple issues with its synchronizations between ledgers
- Not listed on some exchanges
- No Github profile
- They have no reddit account
- No Bitcointalk thread created
- No traceable features on tradingview
Is Immutable X Legit or Scam?
A cryptocurrency project requires you to part with your hard earned cash in order for you to become successful. You expect some level of transparency and professionalism from a project or the team that is asking for your money.
According to research and reviews, Immutable X have developed a problem solver but with a weak back up for the token they produce. Going through their community and roadmap about their project, their visions and aims have so far been achieved.
Is Immutable X Safe?
Being willing to invest in any token is a question entirely up to you to answer. Immutable X token has a formidable team and vision to backup their digital assets and project. The project will succeed but depends if the team keeps the vision active and alive.
Make personal research on the coin, visit coin’s official website.
Follow our blog to learn about coin legitimacy. You can share your thoughts and experiences about Immutable X on the comment section below. Don’t forget to rate and leave Immutable X a review.