IMX token is very HOT. What does its platform offer?
Immutable X is the L2 scaling solution for NFTs, created on Ethereum. It offers instant trading, zero gas fees, and massive scalability for minting and trading. The company also guarantees user and asset security. This solution is one of the most technically advanced ones for NFT scaling. The team developed it with StarkWare’s powerful STARK prover and rollup technology. They also issued IMX, which is the native ERC20 utility coin of the Immutable X protocol. Investors can earn IMX by conducting pro-network activities such as trading, and they can use the tokens to perform governance, pay fees, or stake in the protocol.
According to the platform, the token’s ICO will start on September 8, 2021, and the sale will end on September 15, 2021. The price will be 15 USD per IMX. The company plans to raise 1,000,000 by trading its native coins. While the total supply of IMX is 20,000,000, only 5% will be available for the initial coin offering. Immutable X will accept ETH, BTC, USDT, and USDC in exchange for IMX.
The token has a strong potential. It got a high ranking on several ICO listing platforms. Besides, the company introduced a strong roadmap. Immutable X may well become one of the prominent protocols in the Defi space.
What about Immutable X’s advantages?
The Immutable X team believes that developers and NFT users shouldn’t have to choose between the network effects of Ethereum and security. Thus, they aim to create a world-class experience for their users. This protocol enables projects to build on Layer 2 Ethereum with an excellent developer and user experience. However, to achieve that goal, the company must unite several components. For instance, it will employ a ZK-Rollup scaling engine. Combining NFT-specific exchange and proof logic with the roll-up technology developed by StarkWare will enable the company to create the most advanced tool for trading NFTs ever built.
Furthermore, rollups allow for world-class user experience and scalability and, at the same time, retain the underlying security of Ethereum. They batch large numbers of transactions, then generate a “validity proof” for those transactions and submit the proof to an L1 smart contract.
The company’s rollup currently enables more than 9,000 NFT transfers, mints, and trades per second, exceeding the scale required by mainstream NFT projects.
How will API Abstraction Layer help?
Immutable X also wants to make building NFT applications easier. Thus, the company decided to wrap the scaling engine in a set of powerful REST APIs. That means every interaction, from trading to minting to transferring, is as simple as an API call on this platform. Immutable X will convert complex asynchronous blockchain interactions, which often take hours, into synchronous REST API calls. The latter is a powerful upgrade to blockchain development paradigms.
Start-up companies can launch better projects much faster without the need to interact directly with smart contracts. Another advantage that the platform offers is that it currently supports all desktop Ethereum wallets. Unlike other platforms and chains, Immutable X’s users won’t need to switch networks if they want to make transactions.
The protocol even provides an intermediate layer (also called the “Link”). The latter enables an NFT-specific wallet experience of world-class quality. It also allows the company to support a thriving third-party marketplace ecosystem without risking users’ security. Investors can rely on the Link to ensure the true value of the assets they are purchasing.
Platform and programming language-specific software development kits (also called SDKs) will enable partners to integrate with Immutable X more easily. The company already made available a Typescript SDK implementation. Customers can use it to integrate the protocol easily into websites. The SDK also allows for typed access to the Immutable X Wallet and APIs, regardless of the platform.
What about Orderbook and liquidity?
The company provides a shared global Orderbook to facilitate protocol liquidity. As a result, users will be able to create the orders on one marketplace and fill them on another. That would promote more effective marketplace bootstrapping and price discovery. Besides, thanks to this feature, users can build NFT marketplaces on the Immutable X platform without a backend.
The Immutable X team believes that a key way to maximize the liquidity of NFTs is trading them on different marketplaces, which target different customers.
Furthermore, the company wants to ensure that its platform is legally compliant. It took steps to ensure that users will make every transaction according to the existing regulations.
In addition, Immutable X will lower the barrier of entry on its marketplace for smaller developers and content creators who do not have the resources to create their own trading experience. Users will be able to verify their transaction history and view the historical state.
KABY token’s ICO will also start soon
Kaby Arena plans to launch its ICO soon. It is a Free-to-Play turn-based NFT game. Furthermore, everyone can start playing it without making any investment. The company employs the Play-to-Earn model to reward its players with native KABY tokens and equipment through dynamic gameplay. With the combination of the P2E and F2P models, the platform gives customers the opportunity to play and profit simultaneously.
Kaby Arena incorporated a mechanism called Crypto War into the gameplay to create a friendly environment for F2P players who are unfamiliar with the Defi market and NFTs. This mechanism will also give such players incentives. They will be motivated to do their own research and learn about the market.
Thus far, the platform has proved fairly successful. It has a growing community with many players. Currently, most NFTs games suffer from a low player base. That is due to the expensive initial cost for a new player to take part in the game. Users have to pay upfront a large sum of money to acquire NFTs before they actually begin playing the game. And they can’t earn back their initial investment fast; it takes time, sometimes long periods. As a result, most of the players for those games are investors with long-term plans instead of actual players.
Furthermore, Free-to-Play games are convincingly dominating the gaming industry. Analysts think that they will continue increasing in both revenue and the market share for years to come.
Thus, Kaby Arena decided to offer its users a seamless combination of both Free-to-Play and Play-to-Earn models. Every player can enjoy the game and create value in the process without paying the money first. The company minimizes the need for high initial cost, making the Play-to-Earn model true to its name.
How can players profit from this platform?
According to the team, palters will be able to gain by selling in-game drops such as loot-boxes and other resources on the marketplace. They can also mint heroes into NFTs and rent them out to other players or even put them on auction. Furthermore, users can try winning periodical tournaments and participate in events hosted by Kaby game studio. The platform will enable players to stake KABY tokens or NFTs for additional gains.
Kaby Arena plans to release various staking vaults to allow token stakes to earn multiple rewards. Users will be able to stake their NFTs for loot-boxes. According to the team, the higher the price of their NFTs, the higher the rarity of their loot-boxes.
Besides, owners of NFTs can put their unused assets for rent and generate better income. Players who want to experience strong NFTs but cannot afford to buy them may rent them instead for a period of time.
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