IMX Token Surges on the Back of New Blockchain Games
The price of the IMX token experienced a significant surge after VanEck, an investment manager, stated that the release of new blockchain-based video games in 2024 could drive the token’s value even higher. As of 2:33 p.m. ET on Friday, the token had risen by over 7% to $1.56.
Potential for IMX to Become a Top 25 Coin
VanEck predicts that with the launch of Illuvium, Guild of Guardians, and other high-budget games in 2024, IMX has the potential to become a top 25 coin by market capitalization. According to VanEck, these games have been under development for years and have received significant funding. The investment manager also commended IMX for having a well-designed token that aligns interests better than most.
About IMX
IMX is an ERC-20 utility token that powers the Immutable ecosystem.
Multiple Games in Development
Illuvium is being built using Unreal Engine 5 and on ImmutableX’s blockchain. The project aims to release titles that can compete with top non-blockchain games. With its ILV token already having a market cap above $620 million and a large following, Illuvium is seen as a potential driver for mainstream adoption of web3 gaming.
Bullish Outlook from VanEck Analysts
VanEck analysts Matthew Sigel and Patrick Bush expressed optimism about the impact of Illuvium and other games on Immutable’s token price. They believe that these AAA games, which have received over $100 million in funding and are set to be released in 2024, have the potential to attract players on the scale of traditional AAA games.
Hot Take: IMX Token Gains Momentum with Anticipation of Blockchain Games
The IMX token has seen a significant surge in value following the announcement of new blockchain-based video games set to be released in 2024. With the potential to become a top 25 coin and the backing of investment manager VanEck, IMX is gaining momentum in the crypto market. The upcoming launch of Illuvium and other high-budget games has generated excitement and anticipation among investors and gamers alike. As blockchain technology continues to revolutionize the gaming industry, IMX is positioning itself as a key player in this space. Keep an eye on IMX as it rides the wave of innovation and adoption in blockchain gaming.
By
By
By
By