NFT trading platform Immutable raises US$200M capital to revive Blockchain Gaming - Alvinology

NFT trading platform Immutable raises US$200M capital to revive Blockchain Gaming

Immutable, carbon-neutral and scalable platform for trading NFTs on Ethereum, announces it secured US$200 million in Series C financing led by Temasek, with investments from leading blockchain game juggernaut Animoca Brands and technology company Tencent, bringing its valuation to US$2.5 billion.

ParaFi Capital, Princeville Capital, Arrington Capital, Mirae Asset and Liberty Global also joined the round as new investors.

King River Capital, Prosus Ventures, AirTree Ventures, Declaration Partners, Fabric Ventures, Possible Ventures and Alameda Research all increased their existing investments in Immutable.

This capital will be used to fuel Immutable’s plans for global expansion, accelerate the company’s growth by investing in the Immutable X platform, and scale the Immutable Gaming Studio, including its flagship games Gods Unchained (one of the largest blockchain games by players) and Guild of Guardians.

NFT trading platform Immutable raises US$200M capital to revive Blockchain Gaming - Alvinology

Immutable plans to hire an additional 200 new employees globally over the next 12 months predominantly in sales, marketing, engineering and product.

The company will also use the funds to scale to meet the increasing demand for its platform and expand into new verticals, support gaming partners, acquire new customers, and explore M&A opportunities.

Current companies building on Immutable X include GameStop, TikTok, Opensea, Ember Sword, Illuvium, GreenPark Sports, and Gary Vee (Vee Friends).

NFT integration gives you true ownership and the ability to buy, sell, trade, and play-and-earn in-game assets. Immutable X is built using StarkWare’s StarkEx, which rolls up hundreds of thousands of transactions into one while positioning you to safely secure digital assets directly on Ethereum. This enables Immutable to provide game developers and all NFT creators with throughput and zero gas fees for trading and minting NFTs in a carbon-neutral environment, empowering them to create billions of low-cost, in-game assets that can easily be bought and sold.

To support the rapid global expansion plans, Immutable onboarded four new C-suite executives, including:

  • Gill Findlay – Chief Operating Officer, bringing experience as a partner from AirTree Ventures, and C-suite leadership from Vamp and Australian unicorn SafetyCulture.
  • John Boris – Chief Growth Officer, bringing experience as CEO of IfOnly, CMO of Shutterfly, and C-suite leadership roles from LonelyPlanet and other leading US-based tech-enabled companies.
  • Justin Hulog – Chief Studio Officer, bringing experience from Riot Games, where he was General Manager, Southeast Asia, and Say Media.
  • Katherine Rau – Chief People Officer, bringing experience from her leadership position at Culture Amp and other leading Australian tech companies.

Recently, GameStop announced a strategic partnership with Immutable to launch its new NFT marketplace on the Immutable X platform. The partnership includes a $100M co-fund between the juggernaut and startup, targeting the advancement of high-impact NFT gaming projects.

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