thecoinrepublic.com
- 1 Immutable’s Five games and apps have implemented Immutable Passport at its launch.
- 2 The bullish investors of the IMX coin have bounced off the support.
- 3 The coin has made over 5x returns to the investors since the last year.
Immutable, a web3 game publisher, has announced the launch of its new wallet infrastructure, named “Immutable Passport,” as per the statement released on Dec. 19. The new login method enables users to create and restore their wallet using a Google or Apple account or through an email address.
The Big Announcement
The announcement reveals that five games and apps have implemented Immutable Passport at its launch. The names include Gods Unchained, Blocklete Golf, B/R Watch 2 Earn, TokenTrove, and AtomicHub. It was done with a total user base of over 500,000 people.
In addition to launching the wallet infrastructure, Immutable has unveiled a dashboard that automatically appears after logging in.
The dashboard lets players find new games with ease. It stores and adds funds and links 3rd party wallets. In addition to this, it also helps to manage all their in-game items within one familiar experience, according to the announcement.
Immutable published the results of a consumer study in an August blog post. It stated that gamers are twice as likely to sign up for a wallet using the Immutable Passport versus a traditional wallet.
In May, Immutable provided a more detailed explanation of how Passport secures users’ funds when they sign up using an email address. In this scenario, it uses the Magic software development kit, which generates a private key upon the first login. Later on, it encrypts it and sends it to an Amazon Web Services Hardware Security Module, where it is stored.
For this reason, Immutable considers Passport a “noncustodial” login solution, as it claims it does not require the user’s trust to handle their funds.
The launch of Passport is the latest step taken by Immutable to make Web3 gaming more user-friendly. On December 11, the team integrated Transak as a payment option for its games. Just two days later, it announced that a gas-free transaction option would become available for its zkEVM platform in 2024.
Technical Analysis and Prediction of the IMX Coin Price
The IMX coin price has risen since the last year. The bullish investors had a grip on the trend. The coin has increased more than 400% since the previous year.
At the press time, the 15-minute time frame shows that the bullish investors are currently rejected at the resistance level of $2.40. It was the immediate range. Moreover, its primary support level, which is at the level of $2.21, has come in handy for bullish investors.
The price prediction as per the current technical abna lysis will be bearish until the IMX coin reaches its support level. After that, it suggests that the coin may surge up.
Conclusion
Five games and apps have implemented Immutable Passport at its launch with a total user base of over 500,000 people. The price prediction for the IMX coin suggests a bearish trend until it reaches its support level, after which it may surge.
Technical Levels
- Support Levels: $2.21 and $2.06
- Resistance Levels: $2.40 and $2.55
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading in stocks, cryptos or related indexes comes with a risk of financial loss
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.