Immutable X is a Layer-2 solution based on Ethereum. In fact, it was the first L2 scaling solution for NFTs. It offered immediate trading of NFTs, large scalability, and low gas costs without compromising user security and underlying assets. Immutable X is also considered to be one of the most technically advanced scaling solutions for Ethereum. It operates through its ERC-20 token.

Immutable X solves a few primary difficulties in the blockchain world. First, it addresses concerns relating to developer constraints. The network allows users to configure essential parameters like trading costs and even mint NFTs one by one instead of in a single, bulk order.

Here are some primary features of the IMX coin:

• IMX primarily streamlines the NFT generation process by providing an easy-to-use dashboard.

• Users can also use the environment to create, issue, and distribute ERC-721 and ERC-20 tokens (based on Ethereum).

Founded in 2018, Immutable X was the brainchild of brothers James and Robbie Ferguson. They created IMX to address the trilemma of NFT propagation: accessibility, scalability, and real decentralization. The project raised $15 million in its first round of investment from popular firm Naspers Ventures.

•Immutable X deals exclusively with one of the fastest-growing crypto applications– NFTs.

• Immutable X also works with REST APIs which let users call a simple API through the blockchain to mint, trade, or transfer NFTs.

• Immutable X also supports a third-party marketplace ecosystem without security risks.

• Immutable (IMX) is a solution provider for Ethereum and NFTs. 

• It facilitates NFT trading across various blockchains.

• Makes NFT trading more seamless and allows NFT-enabled crypto wallets.

• Immutable X faces considerable competition from other Layer-2 solutions based on Ethereum.

• The volatility in the crypto market may impact the IMX token price.

• When it was launched, Immutable (IMX) was the first in the market, but now the platform faces several strong competitors. 

• The success of Immutable blockchain and its token IMX depends on widespread adoption by crypto users.

• Trade in Immutable (IMX) by downloading the CoinSwitch app. 

• Start trading in IMX with just ₹100.

• CoinSwitch offers a secure and friendly environment for trading in IMX with just a nominal fee.

Now you can use the CoinSwitch app to trade IMX coins with hundreds of other cryptos. Visit our website to download the app and start trading today!

Immutable X is backed by some of the top venture capitalists and market veterans including Coinbase, Naspers, Nirvana Capital, Apex Capital Partners, Continue Capital, and Galaxy Digital. Back in March 2022, Immutable announced it secured $200 million in Series C financing led by Temasek, Animoca Brands, and Tencent, bringing its valuation to $2.5 billion.