{"id":5060,"date":"2021-12-29T14:35:47","date_gmt":"2021-12-29T14:35:47","guid":{"rendered":"https:\/\/qa.paybis.com\/blog\/?p=5060"},"modified":"2024-04-10T14:13:55","modified_gmt":"2024-04-10T14:13:55","slug":"immutable-x-price-prediction","status":"publish","type":"post","link":"https:\/\/paybis.com\/blog\/immutable-x-price-prediction\/","title":{"rendered":"Immutable X Price Prediction \u2013 Scaling NFTs on Ethereum"},"content":{"rendered":"

The most notable tech giants like Facebook and Microsoft are pushing towards a real-world implementation of the metaverse. It\u2019s gradually becoming obvious that blockchain technology, and NFTs in particular, will play a pivotal role in this niche.<\/p>\n

However, NFT transactions are still experiencing excruciatingly high fees and many consider them environmentally harmful.<\/p>\n

Fortunately, there is some light at the end of the tunnel!<\/p>\n

In this article, we analyse the first scaling solution specific to NFTs on the Ethereum blockchain – Immutable X.<\/p>\n

We also provide you with the most accurate Immutable X price prediction possible. To achieve this, we break down the platform\u2019s tech and fundamentals and combine these with sound technical analysis. At the end of this IMX price prediction, you should have a good idea of whether you should consider these tokens as a short, mid, or long-term investment.<\/p>\n

But let\u2019s begin with some basics; What is Immutable X and how does it work?<\/p>\n

What Is Immutable X?<\/h2>\n

\"the<\/path><\/svg><\/a><\/picture><\/p>\n

Immutable X is the first Layer 2 scaling solution for Ethereum that is entirely dedicated to NFTs. It aims to bring users and developers the ability to mint and transfer NFTs at near-zero costs. An added bonus is the unprecedented speeds of up to 9000 transactions per second. Moreover, it claims carbon-neutrality, as it purchases carbon credits on the voluntary market to offset any gas consumed on Ethereum.<\/p>\n

Created as recently as April 2021, it\u2019s one of the fastest-rising blockchain projects in the space. Just a couple of months after the token public sale in September 2021, Immutable X has already secured a comfortable place in the top 100 coins by market cap.<\/p>\n

The project\u2019s goal is to provide game developers and artists with a streamlined platform for deploying NFTs. All of this without reducing its speed or increasing the transaction costs. To this end, the team has partnered with Starkware<\/a> and adapted their StarkEx<\/a> protocol to fit their specific NFT needs.<\/p>\n

To provide limitless scaling, Immutable X uses Validium ZK-Proofs and ZK-rollups to execute transactions outside of the Ethereum blockchain. More importantly, however, it streamlines the creation of smart contracts by abstracting the StarkEx protocol.<\/p>\n

Consequently, Immutable X provides user-friendly API tools that developers without blockchain knowledge can use to mint and program their NFTs. This way, they can focus on providing the best gaming experience without having to learn Solidity or complicated blockchain logic for integrating dApps into games.<\/p>\n

How Does Immutable X Work?<\/h2>\n

The Immutable X relies on various puzzle pieces that connect with each other to build a complete product:<\/p>\n