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.
- 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.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.