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Immutable X Token Sale Raises Over $12.5M in Under an Hour
Immutable X is aiming for its IMX token to be Ethereum’s “Stripe for NFTs,” offering gas-free NFT minting and trading.
Ethereum scaling product Immutable X’s token sale on CoinList sold out in less than an hour, raising over $12.5 million.
- Of the 720,000 accounts registered to participate in the sale, only around 25,000 (3.6%) were able to make purchases due to the demand, Immutable announced Monday.
- Immutable said it is aiming for the IMX token to be Ethereum’s “Stripe for NFTs,” offering gas-free NFT minting and trading. Stripe is a payments processing company.
- Developers of non-fungible tokens (NFTs) who were unable to purchase tokens in the sale are now encouraged to launch projects on Immutable X by the end of September thereby earning up to 30,000 IMX.
- The protocol is poised to integrate with a number of NFT marketplaces, including Mintable and OpenSea.
- Immutable recently raised $60 million in a Series B funding round that was led by BITKRAFT Venture and King Rivar Capital. Other participants included Alameda Research, Galaxy Interactive and Prosus Ventures.
Story continues
Read more: DeFi’s 1inch Network Launches on Ethereum Scaling Platform Optimism
Jamie Crawley
Jamie has been part of CoinDesk's news team since February 2021, focusing on breaking news, Bitcoin tech and protocols and crypto VC. He holds BTC, ETH and DOGE.
