Immutable Unveils New $ 500 Million Web3 Gaming Fund

Immutable launches a $ 500 million fund

Immutablethe company to which we owe the second level solution (level 2) immutable X dedicated to the Ethereum (ETH) blockchain, unveiled a fund of $ 500 million to drive developer adoption of its platform.

baptized ” Immutable commitments », This development fund will be used to support companies wishing to structure themselves around the non-fungible tokens and Web 3.0 on Immutable X. These new resources will both be deployed in the form of an IMX token (Signal immutable) and cash.

This fund benefits from the support of major ecosystem players, such asBrands Animoca (The Sandbox), BITKRAFT Ventures, GameStop, Arrington Capital, King River Capital, Air Tree and Double Peak.

According to Robbie Fergusonpresident and co-founder of Immutable, NFTs are still in their infancy and Immutable has all the necessary tools to promote their development:

“Immutable Ventures will aim for NFT projects that interact with our growing digital ecosystem, knowing that we have only just begun to scratch the surface of this ecosystem’s enormous potential. “

In addition to promoting their own development tools, Immutable Ventures has also accomplished numerous strategic investments in evolving companies also on Web 3.0 and NFT, such as Starkware, Stardust, Topology and PlanetQuest.

👉 Learn more – NFT: what is it and what is it for?

Game-centric development

Immutable X, level 2 of Immutable, integrates technology zero knowledge proof from StarkExwhich allows you to group thousands of transactions into a single “package” before being validate them on Ethereumwhich allows you to benefit from the security of the parent blockchain while guaranteeing almost zero transaction fees.

This combination of benefits allows networks like Immutable X to be particularly suitable for blockchain games and those based on NFT, the latter requiring a large number of concurrent transactions.

For this, last February, Immutable announced a collaboration with GameStop in order to encourage the development of the gaming sector on its platform, with already in parallel a Support Fund of $ 100 million.

Benefiting from considerable experience in this environment, in particular thanks to games Of the releasedGuild of Guardians or Illuvium, Immutable and its partners will be able to provide solutions and advice to future developers who wish to build on the network.

This concerns in particular tokenomics, the development itself, the methods of marketing or financing. This is meant to drive the adoption of this type of emerging game, according to the president of Immutable:

“We are learning from creating two of the biggest blockchain games – Gods Unchained and Guild of Guardians – and hiring the smartest people from web2 studios like Riot Games, to make entry into the world of NFT games simple and rewarding for studios. game . “

Thus, in a context in which the cryptocurrency market is highly agitated, some companies of the ecosystem keep building through the storm. Last March, Immutable had seen its rating reach $ 2.5 billion following a $ 200 million fundraiser.

👉 To go further – Ethereum (ETH) Immutable (IMX) Level 2 offers BAYC metaverse hosting

Source: PR Newswire

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About the author: Massimiliano Prue

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Passionate about the world of decentralized finance and the news brought by Web 3.0, I write articles for Cryptoast to help make the blockchain more accessible to everyone. Convinced that cryptocurrencies will change the future very soon.
All articles by Maximilien Prué.

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