- Ethereum NFT Gaming Startup Immutable recently announced the raise of Series C funding led by Temasek.
- Robbie Ferguson, the co-founder and President of Immutable, is quite a believer in the potential of Non-Fungible tokens and thinks they have opened the largest addressable market in the world’s history.
- This raise would be utilized for the global expansion of the startup and further development of Immutable X and the gaming studio.
Immutable, the Australian Non-Fungible Tokens (NFTs) startup has recently announced about raising a fresh Series C funding round.
What would this fundraise offer?
The NFT startup raised US$ 2 million in the funding round, which was led by Temasek, which is an investment company based in Singapore.
This round witnessed investments from prominent entities like Hong-Kong based metaverse investment firm Animoca Brands, Chinese tech giant Tencent, etc. The additional new investors’ list includes names like Arrington Capital, Mirae Asset, Liberty Global, ParaFi Capital, Princeville Capital. The firms increasing the total investment were Alameda Research and Possible Ventures.
Robbie Ferguson, co-founder, and President of Immutable expressed via his Twitter account that he was thrilled to announce the next chapter of Immutable alongside Temasek. He highlighted that NFTs are eating the world, and Gaming will be a trojan horse that means your family can trade and own digital property without them even knowing.
Immutable: A continuously emerging Blockchain firm
This new funding round values the company at $2.5 Billion. These new funds might be utilized in Immutable’s expansion globally and the development of its gaming studio and Immutable X.
Immutable X is a layer two platform based on the Ethereum blockchain. Transactions on this platform are comparatively cheaper and faster than the ones on Ethereum’s own mainnet.
Immutable also creates and publishes their own NFT games. And competitive card game Gods Unchained was among the first significant crypto games and has shifted from Ethereum’s mainnet to Immutable X. The firm further plans to publish the upcoming mobile action game Guild of Guardians.
The largest NFT marketplace, Opensea, Tiktok, and GameStop, are the entities building on Immutable X.
The Crypto industry and concepts like Metaverse and NFTs have been witnessing numerous investments by large venture investors, celebrities, and blue-chip companies. It seems like these entities are ready to bet on the potential of cryptocurrencies and the ever-emerging market for Non-Fungible Tokens (NFTs).
NFT games witnessed a surge last year with the emergence of Axie Infinity and other players. And have lately gained the confidence of a lot of sectors, with more and more entities and companies getting continuously involved in the industry. It is to look forward to how these fascinating concepts emerge more in the future.
ALSO READ: Acardex: Fast Growing Decentralized Exchange and NFT Marketplace on Cardano Announces $ACX Seed-Sale
Nancy J. Allen is a crypto enthusiast and believes that cryptocurrencies inspire people to be their own banks and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning.
Source: https://www.thecoinrepublic.com/2022/03/08/nft-gaming-startup-immutable-raises-200m-reaches-valuation-worth-2-5b/