Technology News

Australia's Fastest Growing Unicorn Helps Make NFTs Available At Any Price Point, Fostering Mass Adoption In Gaming, Collectibles, Music And Sports, Among Others

Immutable powering the next generation of web3 games as the leading carbon-neutral, scalable platform for trading NFTs on Ethereum, today announced the launch of its inaugural development fund, Immutable Ventures. The Immutable Developer and Venture Fund is dedicated to supporting web3 games and NFT-centric companies that build on Immutable X. The inaugural $500 million 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 is now one of the world's largest crypto investment funds and 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 strategic partners to invest in and incentivize developers to build successful games and projects on the IMX platform.

The mix of assets will be used to service the needs of different developers - cash to meet funding requirements for scaling projects and milestone-based $IMX with designated vesting schedules to facilitate long-term incentive alignment. Immutable's fund will be collaborating with prolific 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, as well as leading strategic Gaming publishers, giving developers access to additional investment opportunities.

The Immutable Developer and Venture Fund will provide partners with deep blockchain gaming support and expertise; including direct access to advisory for tokenomics, game design, community and marketing support. "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.

Building on Immutable are some of the biggest 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 strategic partnership with Immutable to launch its new NFT marketplace on the Immutable X platform.

Additionally, Immutable Ventures has already made several strategic investments in web3 companies and NFT startups, including Starkware, Stardust, PlanetQuest and Topology. To contact Immutable Ventures and submit an proposal, please visit: www.immutable.com/fund

Immutable X is the first and leading Layer 2 protocol scaling solution on Ethereum, designed for the burgeoning NFT ecosystem. Created for high-frequency minting and trading of NFTs, massive scalability and enhanced liquidity; the protocol boasts 9000 TPS, zero gas fees, and easy on-and-off ramps in a fully carbon neutral environment.

Immutable X incorporates StarkWare's StarkEx zero-knowledge proof technology to roll up thousands of transactions on its own network and commit them to Ethereum with a single transaction, achieving scalability while providing developers with zero gas fees and a carbon-neutral environment.

"Gaming is bigger than movies and music combined, and is compounding by 10% every year. With the knowledge we have from building two of the blockchain's biggest games in-house, we're going to be providing the funding, expertise and infrastructure needed to grow this to a trillion dollar ownable economy over the next decade," said Robbie Ferguson , President & Co-Founder, Immutable. "We're prepared to advance the immense, untapped potential in today's web3 economy by providing the necessary funding and infrastructure these ambitious NFT projects need to be successful. While we see strategic investments happening in this space every day, Immutable Ventures will target NFT projects that are committed to our growing digital ecosystem with the understanding that we have just begun to scratch the surface of the massive potential for this category."

Immutable is the fastest Australian company to reach unicorn status — earlier this year, Immutable announced a $200 million series C fundraising round led by Temasek, and included Tencent and Animoca Brands. The company is valued at $2.5 billion and plans to use the funds to help drive its global expansion.

This announcement is in partnership with Digital Worlds NFTS LTD. Immutable Pty. Ltd.is an independent service provider to Digital Worlds, the issuer of IMX Tokens.

About Immutable and Immutable X:
Immutable was founded in 2018 in partnership with StarkWare, Sydney -based Immutable X is an industry leader in NFT technology, focused on Layer 2 solutions that bring scalability, affordability and power to the Ethereum NFT ecosystem. In addition, the company also is a developer and publisher of popular web3 projects, including Gods Unchained and Guild of Guardian.

To learn more about Immutable visit: https://www.immutable.com/

Immutable social media: LinkedIn , Twitter , Medium , Discord

Cision View original content: https://www.prnewswire.com/news-releases/immutable-launches-500-million-developer-and-venture-investment-fund-to-accelerate-adoption-of-web3-games-and-projects-301569754.html

SOURCE Immutable

News Provided by PR Newswire via QuoteMedia

GAMING00
East Side Games

The Office: Somehow We Manage Mobile Game Available Now

East Side Games Group (TSX: EAGR) (OTC: EAGRF) (" ESGG " or the " Company "), Canada's leading free-to-play mobile game group, in collaboration with Universal Games and Digital Platforms, announced today the worldwide launch of The Office: Somehow We Manage on iOS and Android. The free-to-play idle game is inspired by NBC's critically acclaimed, Emmy® Award-winning U.S. version of The Office which is now streaming exclusively on Peacock.

Watch the launch trailer here .

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less

KINGDOMVERSE LAUNCHES FIRST CLOSED ALPHA MOBILE GAME

FIRST STEP INTO METAVERSE

Kingdomverse has arrived with its first offering, the mobile game Defend The Kingdom, which will be offered to the Monkey Kingdom community as a closed Alpha before its full launch.

News Provided by PR Newswire via QuoteMedia

Keep reading...Show less

PrizePicks Named the Fastest-Growing Sports Company in America as Part of the 2022 Inc. 5000 List

Atlanta-Based Daily Fantasy Sports Leader Ranked 66th out of 5000 in First Year of Eligibility

PrizePicks the largest independently-operated daily fantasy sports company in North America announced today it has been recognized as the fastest-growing sports company and 66th fastest-growing private company overall as part of the 2022 Inc. 5000 Fastest-Growing Private Companies in America List .

News Provided by PR Newswire via QuoteMedia

Keep reading...Show less

GAIMIN's Early Access Event opens its platform and monetization app to gamers

GAIMIN announces the opening of its gaming and monetization platform to the gaming community.

Following recently completed initial testing of its monetisation and gaming platform, GAIMIN.io ltd is opening up its gaming and monetization platform to 10,000 gamers during August and September.

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less

HOT POCKETS® LAUNCHES ONE20 CONTEST AND PLATFORM TO SUPPORT AND EMPOWER NEXT GENERATION GAMING CREATORS

In collaboration with Elgato and Corsair, the brand will reward deserving entrant creators with new streaming gear, custom gaming set ups and more.

Finding success as a creator in the gaming space is no easy feat. That's why HOT POCKETS® is teaming up with Elgato a leader in audiovisual technology for gamers of all levels, to launch the One20 Contest. Together through this new campaign and platform, One20 is looking for up-and-coming content superstars to bring up to the next level with cash, gaming accessories and more.

News Provided by PR Newswire via QuoteMedia

Keep reading...Show less

Coinchange Financials Inc. Partners with TradeZing

Announced alongside the new NFT Landscape Report showcasing the digital asset's evolution, this strategic partnership will provide educational tools for Coinchange and TradeZing users to learn more about cryptos, NFTs and applicable uses

Coinchange Financials Inc., a leading company offering an automated crypto wealth management platform, and TradeZing, a live-streaming, social engagement, Web3 platform designed for Millennial and Gen-Z traders, announced today that the companies have entered into a strategic partnership benefiting both parties by allowing them to begin researching, publishing, and sharing any and all information surrounding NFTs, cryptocurrencies, their evolution, and all their applicable uses. Coinchange will be a day one partner, meaning that they will be available on the platform at TradeZing's launch. This gives the company access to its own exclusive channel to create content, the opportunity to receive prime positioning on the website, and further drive Coinchange users to the innovative platform to further educate themselves on the DeFi market and all it entails: cryptocurrencies and NFTs.

News Provided by PR Newswire via QuoteMedia

Keep reading...Show less

Award-Winning MMORPG Guild Wars 2 Launches on Steam Aug. 23 to Celebrate 10th Anniversary

New Platform, Twitch Drop Support, and New Complete Collection Arrive for One of the Highest-rated MMORPGs of All Time

- The award-winning Guild Wars ® 2 launches on Steam on Tuesday, Aug. 23 marking the first time the critically-acclaimed MMORPG will be available on a third-party platform. Widely hailed as one of the most beloved PC games of all time, the subscription-free online world of Tyria celebrates its 10th birthday this month by opening the doors of adventure to a new group of players.

News Provided by PR Newswire via QuoteMedia

Keep reading...Show less

Latest Press Releases

Related News

×