Immutable, powering the web3 games as the platform for trading NFTs on Ethereum, announced the launch of its $500 million development fund.
The Immutable Developer and Venture Fund is dedicated to supporting web3 games and NFT-centric companies that build on Immutable X. The fund will accelerate the growth of the Immutable X protocol by allocating token grants and investments to the most promising games and projects building on the Immutable X platform.
The Immutable Developer and Venture Fund, one of the world’s largest crypto investment funds, 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 partners to invest in and incentivize developers to build games and projects on the IMX platform.
Immutable’s fund will be collaborating with crypto and gaming investors including BITKRAFT, Animoca, Arrington Capital, Double Peak, Airtree, King River Capital and GameStop, which are focused on web3 games and NFTs.
“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 James Ferguson, CEO & Co-Founder at Immutable.
Immutable have also partnered with gaming developers and IP holders, including GameStop, TikTok, Opensea, Illuvium, Ember Sword, GreenPark Sports, ESL, Gary Vee (Vee Friends), Playco and many more. Earlier this year, GameStop announced a partnership with Immutable to launch its new NFT marketplace on the Immutable X platform.
Immutable Ventures has already made strategic investments in web3 companies and NFT startups, including Starkware, Stardust, PlanetQuest and Topology.