Immutable Unveils New $500 Million Web3 Gaming Fund

Immutable Launches $500 Million Fund

immutablethe company to whom we owe the second-layer solution (layer 2) immutable X dedicated to the Ethereum (ETH) blockchain, unveiled a fund of $500 million to drive developer adoption of the platform.

baptized ” Immutable Enterprises », this development fund will be used to support companies that want to structure themselves around the non-fungible and Web 3.0 tokens on Immutable X. These new resources are both deployed: in the form of IMX tokens (Immutable’s token) and cash.

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

According to Robbie Fergusonthe president and co-founder of Immutable, NFTs are still in their infancy and Immutable has all the tools needed to advance their development:

“Immutable Ventures will focus on NFT projects that engage with our growing digital ecosystem, knowing that we are just beginning to surface the vast potential of this ecosystem. †

In addition to promoting its own development tools, Immutable Ventures also has various strategic investments in companies that are also evolving on Web 3.0 and NFTs, such as Starkware, Stardust, Topology and PlanetQuest.

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Gaming Focused Development

Immutable X, the layer 2 of Immutable, integrates the technology zero knowledge proof from StarkExwhich allows to group thousands of transactions into a single “package” before being validate them on Ethereumwhich makes it possible to take advantage of the security of the parent blockchain while i take care of it almost zero transaction costs

This combination of benefits allows networks such as Immutable X particularly suitable for blockchain games and those based on NFTs, the latter requiring a large number of simultaneous trades.

This is why Immutable released a collaboration with GameStop to encourage the development of the gaming sector on its platform, with parallel already a $100 million relief fund

Benefit from a substantial experience in this environment, especially thanks to games Gods unleashedGuild of Guardians of Illuvium, Immutable and its partners will be able to provide solutions and advice to future developers looking to build on the network.

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

“We are learning from the creation of two of the biggest blockchain games – Gods Unchained and Guild of Guardians – and hiring the brightest people from web2 studios like Riot Games, to access the game world. Simple and rewarding NFT for game studios »

So, in a context where the cryptocurrency market is moving strongly, certain companies in the ecosystem keep building through the storm† Last March, Immutable saw its appreciation reach the $2.5 billion after a $200 million fundraiser

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Source: PR Newswire

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About the author : Maximilien Prue

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

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