- Immutable today announced that it has raised $ 200 million in a Series C funding round led by Singapore’s state-owned investment firm Temasek.
- The company will use the new capital for new hires and acquisition opportunities.
- Immutable is the developer of Immutable X, a layer 2 scaling platform for NFTs on Ethereum, and is also a game to win the blockchain games Gods Unchained and Guild of Guardians.
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Immutable, a cryptocurrency startup focused on NFTs and games, announced today that it has raised $ 200 million in a Series C funding round led by Singapore’s state-owned investment firm Temasek. The salary increase rates the company at $ 2.5 billion.
Immutable secures $ 200 million
Immutable, a scaling platform focused on NFTs and crypto games, has raised $ 200 million in a Series C funding round.
Immutable Monday Tweet Storm.. Singapore’s state-owned investment company Temasek led the round, with participation from major crypto ventures such as Parafi Capital, Alameda Research and Arlington Capital.
With this increase, Immutable’s valuation will be $ 2.5 billion, about six times the $ 410 million valuation that landed in the previous funding round in September 2021. This year, we will scale up to meet the growing demand for NFT platforms, expand into new industries, and explore merger and acquisition opportunities.
“NFTs are eating the world. Games will be Trojan horses, which means families can trade and own digital assets without their knowledge,” said Immutable’s co-founder and president. Robbie Ferguson said. twitter..
Immutable’s flagship product is Immutable X, an Ethereum-based layer 2 scaling protocol for NFTs. Immutable X leverages StarkWare’s ZK-Rollup solution, StarkEx. It provides a high transaction throughput environment with zero gas charges, instant transaction confirmation, and instant withdrawals to Ethereum without sacrificing security. The team has also developed some of Cryptography’s most popular play-to-earn games, Gods Unchained and Guild of Guardians.
In February, the company partnered with GameStop, the world’s largest video game retailer, to help launch the NFT Marketplace with $ 100 million in funding dedicated to supporting blockchain game developers. Other notable companies built on Immutable’s Layer 2 scaling platform include TikTok, OpenSea, and Illuvium.
Disclosure: At the time of writing this, the author of this work owned ETH, ILV, and several other cryptocurrencies.
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