ImmutableX affiliated foundation is trying to sell IMX tokens to private investors to raise funds

It is reported that the ImmutableX affiliated foundation of Ethereum Layer 2 expansion solution is trying to sell a certain number of IMX tokens to private investors to raise funds. It is reported that Digital Worlds Ltd. NFTS is a non-profit foundation headquartered in the Cayman Islands, which is responsible for issuing IMX tokens and is technically separate from Immutable Group, an Australian start-up that develops blockchain. An Immutable spokesman said that this private token sale was led by a major venture capitalist and “oversubscribed more than twice in the first 72 hours”, At the same time, “all proceeds from the sale of tokens will be donated to the foundation, not immutable.”

Interpretation of this information:

The Ethereum Layer 2 expansion solution, ImmutableX, is reportedly selling IMX tokens to private investors for fundraising. The foundation responsible for issuing IMX tokens is Digital Worlds Ltd. NFTS, which is technically separate from Immutable Group. The private token sale was oversubscribed more than twice in the first 72 hours and will donate all proceeds to the foundation rather than Immutable Group.

This news indicates that ImmutableX is seeking to raise funds through private investors, which could be a sign of financial need or an effort to accelerate development. The fact that proceeds from token sales will be donated to the foundation rather than benefiting Immutable Group suggests a desire to uphold transparency and an emphasis on the importance of the project’s success for the entire Ethereum ecosystem. Additionally, the involvement of a major venture capitalist in leading the token sale could signal confidence in the potential of ImmutableX to succeed in the competitive blockchain landscape.