Immutable announced the establishment of a $500 million fund to develop the Web3 game segment

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2022-06-21 11:13:41

Immutable – a Layer-2 Startup on the Ethereum blockchain platform has announced the establishment of a $500 million fund to fund outstanding projects on blockchain, prioritizing the development of the game segment.

Immutable announced the establishment of a $500 million fund to develop the Web3 game segment

Immutable will invest and finance blockchain games, especially NFT projects. In order to receive funding, projects are forced to develop on Immutable X, the layer-2 protocol will be designed to suit projects to speed up and reduce transaction fees for NFT projects. .

To set up this fund, Immutable joined forces with Bitkraft, GameStop, Animoca Brands, King River and Airtree. Immutable shared about this special event:

“We have a top game development team from Riot Games and will continue to build on the success of Guild of GuardianS (GOG) on our platform. In addition, we are committed to bringing the most necessary things from building tokenomic, gameplay to marketing strategy to blockchain games built on our protocol.”

Immediately after the news of Immutable’s establishment of a new fund, the price of IMX increased slightly by 6.4% from 0.735 to $0.739, just below the previous month’s peak of $0.001. The trading volume over the last 24 hours is 74.88 million USD, the market capitalization of IMX is 174.36 million USD with a total circulating supply of 235.28 million USD.

Although the company is a Startup, the company already has many outstanding NFT games such as Guild of Guardians (GOG) and Gods Unchained (GODS), which opened token sales on CoinList in September and October 2021.

On March 7, Immutable successfully raised $200 million in capital from large companies, increasing the company’s value to $2.5 billion.

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