What is Immutable X (IMX)

Immutable X (now simply Immutable) is an Ethereum Layer 2 scaling solution specifically designed for NFT gaming and trading, built on zero-knowledge rollup (ZK-rollup) technology developed with StarkWare. It addresses the major obstacles to NFT gaming adoption on Ethereum: high gas fees, slow transaction confirmation, and poor user experience, enabling gas-free NFT minting, trading, and in-game transactions.

THE CORE TECHNOLOGY: ZK-ROLLUPS

Immutable X uses StarkEx, a ZK-STARK

based validity proof system. Thousands of NFT transactions are batched off-chain, and a cryptographic validity proof (STARK proof) is submitted to Ethereum mainnet confirming that all batched transactions are valid. This approach: eliminates gas fees for users (the protocol absorbs proof submission costs through fees on trades), provides Ethereum-level security guarantees (validity proofs are mathematically verified on-chain), enables instant transaction finality (no waiting for dispute windows as in optimistic rollups), and scales to 9,000+ transactions per second versus Ethereum's base layer 15-30 TPS.

THE IMX TOKEN

IMX is the native utility and governance token of the Immutable ecosystem:

Fee Payment: 20% of all protocol fees are used to buy back and reward IMX stakers.
Governance: IMX holders vote on ecosystem decisions and grant allocations.
Staking Rewards: Users who stake IMX earn a portion of protocol fees.
Ecosystem Grants: The Immutable Ecosystem Fund distributes IMX to support game developers building on the platform.

MAJOR GAMING PARTNERSHIPS

Immutable has secured significant game development partnerships: Gods Unchained (Immutable's flagship card game, one of the most played blockchain games globally), Guild of Guardians (mobile action RPG), GameStop NFT Marketplace (brief partnership), Illuvium, and hundreds of smaller game studios. In 2023, Immutable announced a partnership with Polygon to create Immutable zkEVM, an EVM-compatible ZK-rollup enabling Solidity developers to deploy full games without rewriting code.

IMMUTABLE PASSPORT

Immutable Passport is a non-custodial Web3 identity and wallet solution for gamers allowing account creation with an email address (no seed phrase needed), significantly reducing the onboarding friction that deters mainstream gamers from Web3 games.

Terms in addition to the Immutable X (IMX)

Blockchain

A blockchain is a subset of a distributed database. The Bitcoin inventors originally prototyped the system in 2008. This modern database is made up of separate blocks that are connected together in a chronological chain. Blockchains may be used to store a wide range of data types. It has mostly been utilized as a public ledger for bitcoin transactions to date. A peer-to-peer network comprised of independent nodes uses a consensus process to ensure the blockchain's security and legitimacy. Each node in the network keeps a public and immutable copy of the data.

2 Factor Authentication (2FA)

2 Factor Authentication is a security measure with two layers. It is used by the majority of cryptocurrency exchanges. To log in, you must provide not only a password, but also a code obtained, for example, from the Google authenticator.

Airdrop

An airdrop is a method of distributing coins. End users can typically obtain coins for free or in exchange for doing a small task, such as subscribing to a newsletter, sending a tweet, or inviting others via a personal affiliate link. Cryptocurrency airdrops — the act of depositing cryptocurrency into public crypto wallets — are utilized as a marketing, liquidity creation, and network bootstrapping technique for many different types of blockchain initiatives.

Altcoin

Altcoin - "alternative coin" - is any kind of digital currency other than Bitcoin. Since the launch of Bitcoin, the world's first digital currency, many altcoins (as well as supporting blockchains) have been created. Altcoin digital currencies share many similarities to Bitcoin, but consistently and have significant differences. There are about 20,000 altcoins, and this number is expected to grow significantly in the coming years. Altcoins often develop Bitcoin features. Ethereum, currently the most widely used blockchain, supports digital contracts and separate applications where Bitcoin does not. Altcoins are also often created to cater to the needs of different users. The Litecoin blockchain, for example, can process payments quarterly for the duration of Bitcoin.

Cold Storage

Cold storage is the way to store cryptocurrency offline. The word refers to the use of offline wallets that are not connected to the internet. Cold storage is the most secure way to keep cryptocurrencies since an offline currency becomes less likely to be hacked and stolen. Paper wallets, printed renditions of private keys, and offline hardware and software wallets are all examples of cold storage.