According to Cointelegraph, developers of Ethereum layer-2 nonfungible tokens (NFT) scaling solution Immutable (IMX) have decided to delay the vesting of 125 million IMX in token rewards, worth $67 million at the time of publication, to July 2024. Immutable's co-founder, Robbie Ferguson, announced the move on October 17, stating that it is aimed at enhancing the project's long-term sustainability. Ferguson also mentioned that when the tokens are eventually unlocked, they will be done on a linear monthly vesting schedule over time, instead of a cliff.
Ferguson revealed that there are over 200 funded games built on Immutable and that the project's treasury has approximately four years of runway for its 270 staff. Currently, 52% of Immutable's 2 billion tokens are reserved for project development and ecosystem incentives. As part of its roadmap, the project plans to launch its zero-knowledge Ethereum Virtual Machine (zkEVM) alongside cross-rollup liquidity. Additionally, its ecosystem blockchain games are set to debut within the next 12 months.
In March 2022, Cointelegraph reported that Immutable raised $200 million in its Series C funding round led by Singaporean state-owned investment firm Temasek, with participation from Animoca Brands, Tencent, Arrington Capital, and Princeville Capital. The funding was intended to improve Immutable's layer-2 scaling solution on Ethereum and scale the Immutable Gaming Studio.
