The crypto gaming industry continues to gain popularity as more funding is poured into the space and traditional web2.0 game studios look to enter the web3 market. Immutable, a well-known Australian crypto gaming company, has launched a fund to support developers and venture investments worth $500 million announced Robbie Ferguson, president and co-founder Immutable.
The capital will go to fund projects creating web games and NFT-focused companies on its Ethereum-focused platform, Immutable X.
The main goal Immutable according to Ferguson, to make it possible to scale crypto games. Ferguson noted that the total size of the gaming market is increasing by 10%, so the value of owned assets in the industry could be $1 trillion if movies, TV shows and music end up inside games. And this is where everything goes.
Фонд Immutable will cooperate with other investors who follow the course of web games and NFTs, including BITKRAFT, Animoca Brands, Arrington Capital, AirTree, Double Peak, King River Capital и GameStop. In March of this year, Immutable completed a $200 million C-funding round led by a Singapore-based company Temasek. To date, Immutable Ventures has invested in several web3 firms, including StarkWare, Stardust, PlanetQuest, and Topology.
Over the next two years, Ferguson expects mid-range game studios to break into web3 and be the fastest to market. Then, over the next two years, even more games will enter the web3 ecosystem.
Subscribe to our telegram channel and go to our main chat to discuss the latest news.