Ethereum NFT scaling solution developer Immutable announced the launch of a $500M ecosystem fund.
We're launching the @Immutable Developer & Venture Fund worth $500M to accelerate the adoption of Web3 games & projects.
Learn more ➡️ https://t.co/iUs5uYQsIq
Continue the thread below. 🧵 pic.twitter.com/u5rPPsApAt
— Immutable | $IMX ⓧ (@Immutable) June 17, 2022
Immutable co-founder Robbie Ferguson told TechCrunch that the main goal is to enable next generation Web3 games to scale and drive adoption.
What is Web3?
In September 2021, Immutable raised $12.5 million as part of the IMX token sale on the CoinList platform. It took him less than one hour.
In the same month, the startup closed a $60 million Series B funding round
In March 2022, Immutable raised $200 from Temasek , Mirae Asset, ParaFi Capital, Declaration Partners, Tencent Holdings and other companies. Investors valued the project at $2.5 billion.
In May, the startup, together with the gaming portal Kongregate, launched a $40 million fund to support blockchain games.
Recall that in June, the infrastructure blockchain platform Alchemy announces $25M Web3 startup and developer support program
Previously, Andreessen Horowitz launched a $600M fund focused on “game infrastructure and metaverse technologies”.
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