Original article: "Is IMX, born out of games, worth paying attention to?" |Chain Reform Plan》
Author: DG Researcher Yan
01. Foreword
The transaction fees required to operate games on the Ethereum Layer 1 chain are relatively high and the speed is slow and easy to cause congestion. This weakness is even more obvious in the actual operation demonstration of Axie Infinity, the former leader of chain games, which proves that Ethereum Layer 1 is indeed not Great for gaming purposes.
Last week, I revisited Ronin, an Ethereum side chain that was born out of games. Unfortunately, Ronin currently does not have other games operating on the chain, so the actual advantages of Ronin have not yet been demonstrated. The same applies. For game operation purposes, Immutable What are the prospects?
02、Immutable与Immutable X
Immutable
Immutable is a global blockchain technology company founded in 2018 by James Ferguson, Robbie Ferguson and Alex Connolly. It is headquartered in Sydney, Australia and currently has more than 300 members. The company's background covers blockchain, FAANG, finance, and financial technology. and management consulting.
Receive technical or financial support from NASPERS, BITKRAFT Ventures, King River Capital, AirTree, Temasek, Coinbase and other giants.
The current main products include the Ethereum layer 2 expansion solution platform Immutable X, NFT games Gods Unchained and Guild of Guardians.
In fact, there is another point that few people mention. Immutable’s previous name was Fuel Games.
(FAANG=Facebook,Apple，Amazon，Netflix，Google）
Immutable X
Immutable The amount of information required by Ethereum when trading or creating NFTs reduces the cost of proof, thereby achieving the so-called 0 gas fee and allowing 9,000 ERC-20 and ERC-721 token transactions per second. It has the advantages of safety, speed and 0 gas fee.
The AAA-level chain game masterpiece Illuvium also chose to cooperate with it 03. $IMX details
$IMX Overview
To put it simply, Immutable can be compared to Sky Mavis, Immutable X can be compared to Ronin, Immutable’s Axie Infinity can be compared to Gods Unchained, and the token $RON on Immutable X is $IMX.
▪Token name: IMX
▪Blockchain: Immutable X
▪Token Type: ERC-20 Utility Token
▪Use:
1. Fee: used to pay transaction fees. 20% of each transaction fee on the agreement is settled in IMX tokens.
2.Stake: Token holders earn rewards by staking their equity in the reward pool.
3. Decentralized Governance: Token holders submit community proposals and vote to participate in the governance of Immutable X.
▪Total supply: 2,000,000,000 IMX. (two billion)
▪Maximum supply: 2,000,000,000 IMX. (two billion)
▪Current circulating supply is 790 million
▪The current market value is 900 million
▪The current FDV reaches 2.4 billion
Data source: DeGame.com
IMX Allocation token allocation
▪Ecosystem development: 51.74%=1,034,800,000 (billion)
▪Project development: 25%=500,000,000 (five hundred million)
▪Foundation retention: 4%=80,000,000 (eighty million)
▪Public offering: 5%=100,000,000 (one hundred million)
▪Private placement: 14.26%=285,200,000 (two hundred and eighty-five million)
IMX’s current unlocking status
It takes a total of 54 months to complete the unlocking
Unlocked: 760,713,803, accounting for 38% of the total
▪Ecosystem development: 322,036,343
▪Project development: 123,076,923
▪Foundation retention: 80,000,000
▪Public recruitment: 100,000,000
▪Private placement: 135,600,537
Unlocked: 1,239,286,197, accounting for 62% of the total
▪Ecosystem development: 712,763,657
▪Project development: 376,923,077
▪Foundation Retention: 0
▪Public recruitment: 0
▪Private placement: 149,599,463
04. Investment and financing situation
own financing situation
Immutable, formerly known as Fuel Games, conducted its first round of financing in July 2018 and its Series A financing in September 2019. Investors include:
* Among them, NASPERS is a world-leading multinational media group and the largest shareholder of Tencent.
In September 2021, it raised 60 million at a valuation of US$410 million. In 2022, it received a 200 million investment led by Temasek at a valuation of US$2.5 billion. Investors include Mirae Asset and ParaFi Capital.
, Declaration Partners, Tencent Holdings, etc.
After receiving 200 million in funding in 2022, Immutable has launched development and expansion. Against the background of layoffs in major companies around the world, Immutable has recruited 200 more employees and launched a 500 million venture capital fund in June to promote the development of Web3 games. There are more than 100 games on Immutable X, and its market competitive share has reached the top 5.
Investment and financing situation of games on the IMX chain
According to a report by Delphi Digital, there are more than 100 games on Immutable X, and a total of 900 million funds have been raised in 2022. Among them, exclusive games on Immutable $600 million.
05. Founder’s predictions for 2023
Immutable founders Alex Connolly and Robbie Ferguson made a simple prediction for 2023 at the beginning of the year, which mentioned the hot topic A.I. I wonder whether Alex Connolly, the CTO and chief technology officer, will introduce A.I. related technologies to IMX. This is also possible. Pay a little attention.
Due to the increasing number of games on Immutable
06、AXS/GODS，RON/IMX
As mentioned earlier, both Immutable X and Ronin were created for game users. Both of them originated from games. Immutable The economic benefits of Axie Infinity are huge. At that time, the market value reached 10 billion, making Axie Infinity the leader of chain games. However, Gods Unchained, known as "Hearthstone" among chain games, is relatively low-key.
Up to now, although the popularity is not as popular as before, Axie Infinity's AXS FDV is still as high as 2.8 billion, with a market value of 1.2 billion, while Gods Unchained's GODS FDV is only 150 million, with a market value of 60 million. The two games have already It's no longer on the same level.
Currently, there is only one giant game on Ronin, Axie Infinity, while there are already as many as 100 various chain games on Immutable 800 million, and the market value is 140 million.
It seems that Sky Mavis is about quality rather than quantity, while Immutable is about quantity. Various games have chosen to migrate to IMX. From a certain perspective, the more people use it, the more value it will have. Big, so far Immutable clearly beats Sky Mavis. Sky Mavis has not launched new games for a long time, so it may miss the opportunity to become mainstream. However, Immutable has gradually become one of the important choices for chain game portals, and the value space of IMX will also be greatly increased.
Data source: DeGame.com Click on the large image to view detailed data 07. Conclusion
The Cypto market picked up at the beginning of this year, and blockchain game GameFi also surged with it. Various blockchain game projects in standby mode were quietly launched. In 2021 and 2022, there were two hit games, Axie Infinity and StepN respectively. Ethereum and Solana have attracted more people to use these two chain games respectively. Everyone knows the economic value of games to the chain.
Immutable Then the development of IMX will become more eye-catching and attractive.
*Market risk, the investment need to be cautious.
This article does not constitute investment advice, please consider the market conditions yourself.