Immutable, a Sydney-based firm behind the very famous NFT games Gods Unchained and Guild of Guardians has created a $500 million development fund to support the creation of blockchain-based games and projects. Immutable is an Ethereum Layer 2 development firm. The corporation announced the launch of a $500 million fund in a series of tweets.
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
According to Immutable’s Friday Twitter statement, the fund would distribute token awards and investments to blockchain-based gaming and NFT enterprises. To get funding, projects must be built using Immutable X, a Layer 2 protocol aimed to speed up and lower the cost of non-fungible token (NFT) transactions. Immutable, non-fungible token (NFT) scaling platform, established the fund in collaboration with Bitkraft, Animoca Brands, Airtree, King River, and GameStop.
The Fund will be broken down into Ventures & Grants
🌟Ventures
Partnering w/ leading venture firms BITKRAFT, Animoca, Airtree, King River, GameStop & more to establish an investment fund
Successful applicants building on IMX can receive additional investment opportunities
3/6
— Immutable | $IMX ⓧ (@Immutable) June 17, 2022
🌟Grants
We’ve taken insights via @GodsUnchained @GuildofGuardian, hiring the best people from leading studios ie. Riot Games to provide applicants w/ extensive necessary knowledge on tokenomics, game design & marketing to launch world-class blockchain games on our protocol
4/6
— Immutable | $IMX ⓧ (@Immutable) June 17, 2022
“We’ve taken insights via Gods Unchained and Guild of Guardian, hiring the best people from leading studios like Riot Games to provide applicants with extensive necessary knowledge on tokenomics, game design and marketing to launch world-class blockchain games on our protocol,” Immutable wrote on Twitter.
On March 7, Immutable secured $200 million in a Series C fundraising round led by Singapore state investment firm Temasek. At the time firm was valued at $2.5 billion. The $200 million funds were utilised to develop Immutable’s international presence, including scaling its Gaming Studio and merger and acquisition opportunities.
