Ethereum Startup Immutable Launches $500M Fund Focused on Web3 Games

Ethereum startup Immutable launches $500M fund focused on Web3 games

Ethereum NFT scaling solution developer Immutable announced the launch of a $500M ecosystem fund.

on NFT startups based on Immutable. The structure plans to cooperate with other investors, including Animoca Brands, Arrington Capital and GameStop.

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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