Despite the fear surrounding the current crypto market, Immutable, an Australia-based blockchain gaming company, just launched its inaugural development fund called Immutable Ventures.
We're launching the @Immutable Developer & Venture Fund worth $500M to accelerate the adoption of Web3 games & projects.
Learn more ➡️ https://t.co/iUs5uYQsIq
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— Immutable | $IMX ⓧ (@Immutable) June 17, 2022
- Immutable, the company behind the NFT game, Gods Unchained, just launched their half a billion dollars investment fund
- Immutable will partner with venture firms such as BITKRAFT, Animoca Brands, Arrington Capital, Double Peak, AirTree, King River Capital, and GameStop to help successful applicants
- Big IPs are already building in Immutable X such as GameStop, TikTok, Opensea, Illuvium, Ember Sword, and Gary Vaynerchuk’s VeeFriends
Robbie Ferguson, the company’s president, and co-founder said through TechCrunch that gaming is the biggest opportunity in the blockchain space at the moment.
“It’s the perfect time to start really building long-term games that will have true in-game economies that will get a hundred million to a billion players on web3, I have a strong conviction that the first hundred million users will come from a [Web 2.0] game. All it takes is a breakout here and that’s a reasonably sized successful game where NFTs can be used under the hood, completely frictionlessly, and reap the benefits.” Ferguson said.
Immutable partnered with well-known venture firms such as BITKRAFT, Animoca Brands, Arrington Capital, Double Peak, AirTree, King River Capital, and GameStop to establish the fund that will help successful applicants through investment opportunities.
They also “hired” the best people from the biggest studios such as to be part of the company. We saw some key people from Riot Games such as Veronica Foo and Justin Hulog shift to Immutable. According to the company’s tweet, the move is for launching world-class blockchain games.
Ferguson believes that “There’s going to be a huge influx of web3 games in eight to 12 months, and there’s going to be hundreds of Triple-A games over the next few years.” This might not be far-fetched as some of the biggest IPs are already building in Immutable X such as GameStop, TikTok, Opensea, Illuvium, Ember Sword, and Gary Vaynerchuk’s VeeFriends.
Immutable’s main goal in opening the fund is to help web3 gaming projects that are being built on the company’s layer-2 Etherium-scaling solution for NFTs, Immutable X, to grow faster.