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Phil Hall
Phil Hall
Aug 19, 2021
News

Immutable Giving ETH Instead of IMX to US Gamers

Blockchain development studio Immutable will give ETH instead of IMX to early Gods Unchained supporters, as part of the airdrop.
Immutable Giving ETH Instead of IMX to US Gamers

Blockchain development studio Immutable will give ETH instead of IMX to early Gods Unchained supporters, as part of the airdrop announced earlier this year. The team has announced a variety of changes to the IMX airdrop, which Gods Unchained players would receive for their early involvement in the Immutable X scaling solution.

Initially all users could IMX tokens through an airdrop mechanic by trading on the NFT marketplace on Immutable X. However, the legal team of Immutable wasn't happy with this idea because of 'the ongoing regulatory uncertainty in the US'. In addition players now also need to play a game of Gods Unchained, before they can claim the airdrop. These are repercussions to remain fully complaint with all regulations in Asia, Europe and North America.

However, because gamers have been trading in order to be eligible for the airdrop, Immutable wants to reach out. All US users who can't receive IMX, will now be able to receive ETH. Immutable for switch all IMX to ETH for those players at a rate of $10 per IMX. They will use the IP address of users to determine their residency.

Wait, what is IMX

The IMX token functions as a utility token on the Immutable X scaling solution. As you might know, Immutable created Immutable X to make transferring NFTs a lot fast and cheaper. Different from for example Polygon, Immutable X taps directly into the security of the Ethereum blockchain, therefore truly earning the label ‘layer-2 solution’.

There will only be 20 million IMX on the market. On Immutable X they will use IMX in three different ways:

  • Fees – 20% of all transaction fees will be paid using IMX. When you don’t have IMX, it will automatically make a token swap in the background.
  • Staking – When you have IMX, you can stake it to earn more. The more you stake, the more you earn.
  • Governance – Those who hold IMX tokens can vote on community governance decisions.

Games on Immutable X

Immutable made Immutable X to make it easier to transfer NFTs. At this moment only Gods Unchained exists on the blockchain, but more games are coming. War Riders already announced that they would move over. In addition Immutable will bring the mobile action RPG Guild of Guardians to their layer-2 solution as well.

Blockchain gaming unicorn Animoca Brands also announced their move onto Immutable X. They didn’t announce any particular products moving over to the layer-2 solution, but their approach has always been about supporting multiple blockchain solutions. For example, Animoca already products running on Polygon, Ethereum, Binance Smart Chain, and Wax. They are also investors in the Flow blockchain.

Disclaimer: The information provided on this page do not constitute investment advice, financial advice, trading advice, or any other sort of advice and you should not treat any of the website's content as such. Individuals should do their own research before taking any actions related to the product they read about and carry full responsibility for their decisions.
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