NFT startup Immutable Raises $12.5 Million in Less Than an Hour

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Immutable has recently completed a token sale on CoinList. The Australian startup has taken less than an hour to raise $12.5 million to develop a Layer 2 scaling protocol.

According to Immutable X representatives, the number of IMX token holders has exceeded 25,000, and the number of registrations in the token sale is 720,000.

The project’s native asset IMX is positioned as “Stripe for NFT,” providing the possibility of “gasless” issuance and trading of non-fungible tokens.

Developers who were unable to purchase tokens due to excessive demand for CoinList were offered a reward of 30,000 IMX for creating services based on Immutable X until the end of September.

The startup representatives are planning to integrate the protocol with large marketplaces like Mintable and OpenSea.

Immutable has previously raised $60 million in a Series B funding round.