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NFT firm Immutable, raises $200m in Series C funding to enhance access to blockchain games


TL;DR Breakdown

  • Immutable set to use Series C funds to improve access to blockchain gaming.
  • Firm joins list of fastest growing Unicorn in Australia.

Sydney-based Immutable, which is powering the world of NFTs as the leading carbon-neutral, scalable platform for trading NFTs on Ethereum, today announced it secured $200 million in Series C financing led by Temasek.

Other top blockchain game investors like Animoca Brands and technology company Tencent participated in the Series C funding bringing its valuation to $2.5 billion.

The amount raised will be used to fuel the firm’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.

Immutable is one of Australia’s fastest-growing unicorns and plans to hire an additional 200 new employees globally over the next 12 months, predominantly in sales, marketing, engineering, and product.

The NFT firm, in a press release on Monday, also said it would 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.

Immutable investors delighted happy to fund blockchain gaming project

“We’re thrilled to double down on our partnership with Immutable. We’re excited to explore integrations with Immutable X across Animoca’s portfolio of content – bringing next-level scale, security, and liquidity to the next generation of blockchain games,” said Yat Siu, Co-Founder and Chairman of Animoca.

“Immutable is locked in on developing a leading, ambitious, and dependable web3 ecosystem for a new era of creators that desire scalable results in the world’s fastest-growing industry,” said James Ferguson, the firm’s CEO. “Our investment partners understand the power and potential of the platform and will play an integral role in this next phase of our growth. We are also excited to welcome new executive team members who will help execute on our aggressive business and growth plans.”

“We are at a pivotal point in which the user experience creates a critical path to success for all emerging technologies, and the platform makes building NFT businesses simple, cost-effective, and extremely easy to monetize,” said John Henderson, AirTree. “We are excited to be on this journey to foster greater adoption of powerful technology that is poised to change the way digital games are played.”

Muhaimin Olowoporoku

Muhaimin Olowoporoku

Muhaimin loves writing on crypto news aside from being a crypto enthusiast. He has a knack for analysing issues and updating people on what's happening around the globe. He believes that blockchain and cryptocurrency are the most useful systems of mutual trust ever devised.

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