NFT Platform Immutable Launches $500M Venture Fund for Web3 Games

Non-fungible token (NFT) scaling platform Immutable launched a $500 million venture fund focused on Web 3 games and NFT projects, according to a statement Friday.

• The new venture fund will also build on the Immutable X protocol through token grants and investments. IMX is Immutable X’s native token.
• Immutable said the fund will collaborate with crypto and gaming investors including BITKRAFT, Animoca, Arrington Capital, Double Peak, Airtree, King River Capital and GameStop.
• Immutable Ventures has invested in Web3 companies and NFT startups including Starkware, Stardust, PlanetQuest and Topology.
• Some of the names already building on Immutable include GameStop (GME), TikTok, Opensea, Ember Sword and more.
• In March, Immutable raised $200 million in a Series C funding round that was led by Singapore state investment fund Temasek at a $2.5 billion valuation.

Earlier this year, GameStop partnered with Immutable X for the launch of its NFT marketplace.