Immutable launches $500M fund for Web3 games
To accelerate Immutable X growth
Web3 gaming firm Immutable has launched an inaugural $500M developer and venture investment fund.
The fund will aim to accelerate the growth of its layer-2 scaling solution on Ethereum, Immutable X, by allocating token grants and investments to Web3 games and NFT-focused projects building on the platform.
“We see gaming being one of the biggest opportunities in web3 to have ever existed,” Immutable President Robbie Ferguson told TechCrunch. “The total addressable market is going to be enormous and much bigger than what gaming is today — a $100B industry for in-game items alone.”
Immutable's fund will also collaborate with other Web3 gaming and NFT-focused investors, including BITKRAFT, Animoca Brands, Arrington Capital, Double Peak, AirTree, King River Capital, and GameStop, as well as leading strategic gaming publishers, for additional investment opportunities.
In March, Immutable closed a $200 million Series C funding round led by Singaporean state-owned investment firm Temasek. Immutable Ventures has already made several investments in Web3 companies and NFT startups, including Starkware, Stardust, PlanetQuest, and Topology.
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