TechFlow News — The foundation associated with ImmutableX, an Ethereum Layer 2 scaling solution, is attempting to raise funds by selling a certain amount of IMX tokens to private investors.
According to sources, Digital Worlds Ltd. NFTS, a non-profit foundation based in the Cayman Islands responsible for issuing the IMX token and technically separate from Australian startup Immutable Group which develops the blockchain, has revealed that this private token sale was led by a major venture capitalist and "was oversubscribed by more than two times within the first 72 hours." The spokesperson also stated that "all proceeds from the token sale will go entirely to the foundation, not to Immutable."
Additionally, Crunchbase data shows that Immutable has raised nearly $280 million to date from investors including Tencent, Alameda Research, AirTree Ventures, and Arrington XRP Capital.Original link
