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ImmutableX-affiliated foundation tries to raise funds by selling IMX tokens

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It is reported that the ImmutableX affiliated foundation of Ethereum Layer 2 expansion solution is trying to sell a certain number of IMX tokens to private inv…

ImmutableX-affiliated foundation tries to raise funds by selling IMX tokens

It is reported that the ImmutableX affiliated foundation of Ethereum Layer 2 expansion solution is trying to sell a certain number of IMX tokens to private investors to raise funds. It is reported that Digital Worlds Ltd. NFTS is a non-profit foundation headquartered in the Cayman Islands, which is responsible for issuing IMX tokens and is technically separate from Immutable Group, an Australian start-up that develops blockchain. An Immutable spokesman said that this private token sale was led by a major venture capitalist and “oversubscribed more than twice in the first 72 hours”, At the same time, “all proceeds from the sale of tokens will be donated to the foundation, not immutable.”

ImmutableX affiliated foundation is trying to sell IMX tokens to private investors to raise funds

Analysis based on this information:


IMX tokens, a key product of the ImmutableX affiliated foundation of Ethereum Layer 2 expansion solution, are being sold to private investors to raise funds. According to reports, Digital Worlds Ltd. NFTS, a non-profit foundation based in the Cayman Islands, is responsible for the issuance of IMX tokens, with Immutable Group, an Australian blockchain start-up, being technically separate.

The ImmutableX spokesperson confirmed that a major venture capitalist led the private token sale, which was more than twice oversubscribed within just 72 hours. The proceeds from the sale of tokens would be donated to the foundation, not Immutable, to further support its mission.

ImmutableX is a popular Layer 2 scaling solution for Ethereum, designed to enable faster and cheaper transactions while preserving the security and decentralization of the Ethereum network. It is built on top of Ethereum and works by using a sidechain to process transactions before sending them back to the main Ethereum blockchain.

IMX tokens are the native utility token of ImmutableX, providing access to the platform’s features, including fee discounts and liquidity provision incentives. They are also used to cover the cost of transaction fees on the network.

By selling IMX tokens to private investors, the ImmutableX foundation can raise additional funds to support the development and growth of the platform. This move also demonstrates the increasing popularity of blockchain and cryptocurrency among investors, with more and more looking to invest in innovative technologies with a promising future.

In conclusion, the sale of IMX tokens sends a positive signal to the blockchain and cryptocurrency communities, indicating that there is strong interest and demand for the technology. The ImmutableX foundation’s decision to donate the proceeds from the sale of tokens to Digital Worlds Ltd. NFTS is also commendable, as it demonstrates its commitment to supporting its mission and objectives, even at the expense of its own profits.

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