Immutable Delays $67M IMX Token Release to July 2024

Immutable's delay signals unwavering dedication to long-term success in web3 gaming.

Last updated: October 17, 2023 5:02 PM

Published October 17, 2023 5:02 PM

Last updated: October 17, 2023 5:02 PM

Published October 17, 2023 5:02 PM

A prominent web3 gaming platform, Immutable’s developer, is delaying the release of $67 million worth of 125 million IMX tokens on Ethereum until July 2024 to ensure long-term project success, with a gradual monthly release for stability.

1/ We're here for the long run.

Last year, we committed to re-locking 125M $IMX of @Immutable’s Project Dev allocation for another 1 year. A few weeks from now, these tokens are scheduled to unlock.

We’re proud to once again re-lock this allocation until July 2024 at a minimum.
— Robbie Ferguson 🅧 | Immutable (@0xferg) October 17, 2023

Immutable has funded over 200 games and has a four-year financial buffer for its 270 staff. About 52% of their 2 billion tokens are reserved for project and ecosystem development.

Their future plans include launching the zero-knowledge Ethereum Virtual Machine (zkEVM) and cross-rollup liquidity. They’re also set to release new blockchain games, believing these will impact web3 and blockchain adoption more than just crypto exchanges.

This strategic move by Immutable demonstrates their commitment to long-term viability, ensuring steady growth and development within the web3 gaming space, making them well-positioned for a promising future.