The Non-fungible token (NFTs) market has taken a significant hit over the past month. This has created a doubtful atmosphere and most people are either hoarding their NFTs or trying to get them off their hands with as much money as possible. But there are still that are holding strong in their position and believe that the NFT market is going to bounce back. These investors are looking at companies like Immutable X (IMX) to guide them towards the new era.
Built by an Australian team, Immutable X (IMX) claims to be the future of Ethereum NFTs. The Project is planning to integrate within the major NFT marketplaces. It has already entered into a partnership with the likes of OpenSea and Mintable, back by Mark Cuban that was able to raise $13 million. It claims to be the crypto game changer. This is due to Immutable being able to provide gas-fee minting and trading, as well as giving the ability to the holders of IMX, the utility token of Immutable X, staking options, and protocol governance voting rights.
Even though the recent atmosphere of the market is looking troubled, the overall year has been good for IMX. TikTok has also announced that they will mint NFTs on Immutable X (IMX). The market is ever so growing, and it may even grow more with time. There seems to be an incoming split of the coin. The supply split will cause every token to be worth 100 tokens. The total supply shall be gradually increased so that all allocations and users are able to attain a similar percentage share of IMX. With the incoming zk- rollup scaling engine, the market for NFTs is bound to prosper again. It also has decentralized governance where the token holders are able to vote on token-related proposals.
Price Movement – Immutable X (IMX)
At the time when this article is being written, the value of IMX is $5.33, with a daily high of $6.27. It has a trading volume of $102,653,391 with an increase of 27.46% over the past twenty-four hours. This value is a lot considering that IMX just launched two weeks ago (13:00 UTC, Friday, 5th November 2021 to be exact). The coin therefore has good estimates with Digital Coin Price estimating the value of the coin as $8.08 USD, $9.66, $11.22, $12.86, $16.26, $19.15, $22.14, $24.15 within the years 2021, 2022, 2023, 2024, 2025, 2026, 2027, 2028 respectively.
