AI Predicts Immutable X (IMX) Price to Surpass $5 by July

Key highlights:

• zkEVM acts as a dedicated sidechain running alongside Ethereum, using a process called zK-rollups to verify transactions super fast while keeping costs low.
• Part of Immutable’s ecosystem includes products like Immutable X and soon Immutable Passport that make the experience even more seamless.
• Early predictions by CoinCodex AI analysts also look very promising for IMX, the token behind Immutable. It envisions prices climbing over 135% within just 5 months to top $5 based on expected momentum.

After months of development and testing, Immutable has officially flipped the switch on early access for its highly anticipated zero-knowledge Ethereum Virtual Machine (zkEVM) mainnet. This marks a major milestone for the Web3 gaming project and the beginning of a new era of scalable blockchain gaming.

Immutable zkEVM Mainnet Early Access is live!

The future of gaming is here with the launch of Immutable zkEVM Mainnet, powered by @0xPolygon.

Immutable zkEVM is an ecosystem that empowers games to thrive. It offers massive scalability, smart contract compatibility, and gas-free… pic.twitter.com/zSrUOwnsQo

— Immutable (@Immutable) January 29, 2024

Immutable unveiled the initial launch via a January 30th tweet, inviting “select game studios and ecosystem partners” to start building on the new layer 2 infrastructure. Games like Guild of Guardians, Metalcore, Shardbound, Treeverse, and more are committed to being among the first to launch on zkEVM once it opens to the wider developer community.

But what exactly is zkEVM and why has its launch generated so much buzz? Let’s break it down.

Scaling Ethereum, killing gas fees

The Ethereum network has facilitated tremendous innovation over the past several years but has struggled with sky-high gas fees and network congestion when usage spikes. While promising solutions like sharding and Ethereum 2.0 are on the horizon, scaling is still a work in progress.

Enter zkEVM. Short for “zero-knowledge Ethereum Virtual Machine”, it is a layer 2 scaling solution leveraging zero-knowledge proofs to enable faster, cheaper transactions while maintaining security and compatibility with Ethereum. Translated for non-techies, it means all the perks of Ethereum without the gas pains.

For gaming especially, sky-high transaction fees have posed major barriers to mainstream adoption. With zkEVM, games will be “gas-free” and feel as seamless as traditional games—a critical step for the future of Web3 entertainment.

A dedicated playspace secured by layer-2 protocols

So where does Immutable’s incarnation of zkEVM fit in? Powered by Polygon, zkEVM acts as a dedicated sidechain running in parallel to Ethereum while inheriting its security. Validators stake MATIC tokens to verify transactions, keeping costs low while still playing by Ethereum’s rulebook.

This grants zkEVM both the scalability needed for mainstream gaming loads as well as the robust security and flexibility of building on Ethereum. Immutable describes it as “a chain built exclusively for gamers and gaming studios.”

An exclusive gaming network adds up to big potential. Immutable claims over 200 games have already committed to building on their platform, representing close to 70% of the Web3 gaming market. zkEVM could become the epicenter of the explosion of blockchain games many experts forecast for 2024 and beyond.

What about Immutable X?

Existing Immutable products like their current L2 Immutable X will also integrate with zkEVM. And gas-free transactions may even extend beyond zkEVM to their Immutable Passport account system at some point in 2024.

zkEVM handles the infrastructure scaling while Immutable X and Passport focus on seamless user experiences. They form the trifecta to truly eliminate friction for the masses entering this new era of GameFi.

AI is bullish on IMX – but how high will it go?

With major progress on the development front, speculation has mounted around how Immutable’s projects and IMX token may perform in the coming years. To get an idea, we checked the predictions of CoinCodex’s AI price analysis tool. Here’s a brief breakdown of its short-term outlook:

6-Month Price Prediction for IMX

Averaging out to around 10-15% monthly gains, the artificial intelligence is clearly bullish on IMX’s momentum continuing shortly. Letting potential gains compound, it envisions the token eclipsing $5 by summer – not a bad return for a 6-month horizon.

The early access launch of Immutable zkEVM Mainnet represents a major milestone on the road to mainstream blockchain gaming adoption. By eliminating gas fees and expanding Ethereum compatibility, zkEVM tears down significant obstacles that have held the industry back. Along with integrations like Immutable Passport, these developments promise to deliver a more seamless Web3 experience that hooks casual and core gamers alike.

If the zkEVM platform meets expectations, IMX appears poised for strong and sustained price appreciation over the coming year based on artificial intelligence analysis. With gains of over 135% predicted within five months, early believers in Immutable’s vision could be handsomely rewarded.

If you’re on the fence about which crypto to buy for medium-term investment, check out the AI price predictions for LINK, ADA, and RNDR.