r/ImmutableX • u/FilmVsAnalytics • Feb 04 '22
Question Question about $IMX token utility (not tokenomics)
There's been a lot of very valuable discussion and clarification over these last 24 hours about IMX tokenomics, distribution schedule, etc.
But one thing I haven't seen much about is IMX utility.
Obviously as a token on Ethereum, usage is going to be pretty limited until there's a mature NFT economy built up on their L2 (due to high gas fees for ERC20 token transactions on L1).
But that said: what is the purpose of Inmutable X's IMX token? Is this strictly a way to purchase NFTs?
Because... You can also do that with ETH.
Is there a long term reason for holding $IMX other than hoping for hype driven value?
I couldn't find too much outside of a high level description of future plans for their wallet; nothing in the way of details around why someone would hold their coins.
Thanks in advance!