Million Subscriber Analyst: Check Out This NFT Coin!

0

NFTs are great, but gas fees are definitely not. But what if there is a layer 2 protocol built specifically for NFTs that can solve this problem? There is one and this NFT coin project is called Immutable X (IMX).

This NFT coin project draws attention

Immutable X is the first ZK rollup-based layer 2 scaling solution for NFTs on Ethereum. It is a solution to the high gas fees and scalability issues traders experience on the Ethereum network when printing and transacting NFTs. Immutable X has implemented a new layer 2 scaling solution that combines NFT-specific change and proof logic with a sophisticated aggregation technology called StarkX developed by Starkware. Users who want to nft on Immutable X will need a special key pair called the STARK key pair. Immutable X has developed a trusted layer called LINK to act as a medium between any Ethereum wallet and the Immutable X protocol.

Immutable X provides users with a shared global order book to improve protocol liquidity. This allows NFT marketplaces built on Immutable X to access sustained amounts of underlying liquidity. Immutable X is also notable for developing its own in-house NFT market. Users can purchase and hold NFTs without the risk of custody. On the other hand, OpenSea announced that it will integrate Immutable X into the NFT market. Coinbase Ventures has invested heavily in Immutable X, and this inevitably means that Coinbase may want to incorporate and use the scalability features of Immutable X to expand its NFT ecosystem. IMX is used for pricing and decentralized governance. Users are not technically required to hold IMX tokens to trade on the Immutable X NFT market. The IMX token acts as an entry ticket to the decentralized governance voting structure of the ecosystem.