Immutable Network (IMX) Charges Ahead After US SEC (Securities and Exchange Commission) Closes Its Investigation

Immutable is charging ahead after the US SEC (Securities and Exchange Commission) closed its investigation into the platform's native token, IMX, in late March.

Immutable, the blockchain gaming network, is heating up after the US SEC closed its investigation into the platform’s native token, IMX, in late March.

The agency had issued a Wells notice to the company last November, signaling potential concerns over securities violations. However, BeInCrypto reported that the SEC has now dropped the probe without any further enforcement action.

This development provides Immutable with some crucial regulatory breathing room as it expands its blockchain-based gaming platform.

Highlighting the network’s progress, Immutable executive Robbie Ferguson shared an update on X (Twitter).

Ferguson disclosed that Immutable has pulled off a remarkable feat despite navigating a challenging regulatory landscape.

“Despite the SEC inquiry, this last year we’ve onboarded 5 million wallet users, partnered with 3 multi-billion dollar companies, and doubled our signed games to 500+.”

Lock in, because we’re only accelerating from here.” Ferguson shared.

Highlighting Immutable’s journey, the executive added: “Last year at this time the SEC had just started an inquiry into IMX. We were at 150 games, no major partners, and 1 million wallets.”

Ferguson further stated that Immutable is rapidly expanding its ecosystem.

Its flagship tools, like Immutable Passport, simplify onboarding for mainstream users, allowing them to effortlessly join decentralized game economies.

Moreover, Ferguson’s post suggests that Immutable may be one of the largest gaming platforms in terms of the number of titles.

With over 500 games now in development or live on its platform, it holds one of the largest libraries of blockchain-enabled titles.

This growth is part of a broader shift in how games are built and played. By leveraging NFTs, players own their in-game assets. This stands in contrast to major publishers’ traditional approach of creating closed-off "walled garden" systems.

Treeverse Season 1 Reward Campaign Starts April 19

A key part of this ecosystem is Treeverse, one of the most anticipated Web3 titles launching on Immutable. Backed by the END token and boosted by additional IMX and MON rewards, the game’s first season emphasizes merit-based progression and asset utility.

“Treeverse officially launched on all stores (iOS, Android & Windows) on March 18th. Almost a month later we are finally launching Season 1, beginning with a 30-day reward campaign…on 19th April [4 PM GST/1 PM BST/12 PM UTC/7 AM CT] Season 1 will commence,” a campaign breakdown by Endless Clouds announced.

Treeverse rewards genuine engagement with NFT-based multipliers, exclusive gear, and a transparent reward model for real gamers.

“2 days until Treeverse Season 1 launches! – 2.76% of END token supply – Bonus IMX & MON token rewards – Packs, Boosts, and Exclusive Crowns available – Holder multipliers – up to 1.75x for NFTrees. Treeverse rewards real gamers on Immutable,” the network shared in a Thursday post.

Meanwhile, Gary Gensler continues to doubt the legitimacy of most digital assets despite the SEC dropping charges against a wide range of tokens. In a recent interview, the former SEC Chair suggested that 10,000 to 15,000 tokens besides Bitcoin (BTC) have no fundamental value.

Based on Ferguson’s highlights, industry voices are pushing back against the controversial crypto nemesis.

“Saw Gary Gensler’s talk today and how he was talking about 10-15k tokens besides Bitcoin not having fundamental value. When asked what he thinks about SEC charges being dropped, him still trying to go at it like every coin they pressed on had no fundamental value. Was some clown takes,” Alchemist remarked.

Alchemist urged builders like Ferguson to keep pushing. In the same vein, Jason, CEO and founder of the Genome Protocol, lauded Web3 gaming.

"Web3 gaming is inevitable," Jason chimed.

Immutable’s resurgence comes when the Web3 gaming sector is poised for explosive growth. It is projected to expand from $4.6 billion in 2022 to nearly $65.7 billion by 2027.

With its regulatory hurdles cleared and infrastructure battle-tested, Immutable may be poised to go beyond just keeping pace. It remains to be seen what other milestones the company will reach in the coming months.

Despite this optimism, Immutable’s native token has seen limited gains. As of this writing, IMX was trading for $0.41.