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NFT Platform Immutable launches $500m venture fund for Web3 games
Monday, June 20, 2022

Laxman Pai, Opalesque Asia:

NFT scaling platform Immutable launched an inaugural $500 million developer and venture investment fund.

According to a media release from the Australia-based web3 gaming firm, the new venture fund will also build on the Immutable X protocol through token grants and investments. IMX is Immutable X's native token.

"The Immutable Developer and Venture Fund is now one of the world's largest crypto investment funds and will be providing investments and grants with a combination of $IMX, Immutable X's native token, and cash. The investment fund will work with developers, IP holders, and strategic partners to invest in and incentivize developers to build successful games and projects on the IMX platform," the release further explained.

Gaming developers and IP holders already building on its platform include GameStop, TikTok, OpenSea, and Illuvium, to name a few. Immutable Ventures has invested in Web3 companies and NFT startups including Starkware, Stardust, PlanetQuest, and Topology. The fund will collaborate with crypto and gaming investors including BITKRAFT, Animoca, Arrington Capital, Double Peak, Airtree, King River Capital, and GameStop.

"We're taking the lessons learned from building two of the blockchain's biggest games - Gods Unchained and Guild of Guardians - and hiring the smartest people from web2 studios like Riot Games, to make entering the NFT gaming world simple and rewarding for gaming studios," says Jame......................

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