Immutable Raises $200 Million in Temasek-Led Series C, NFT Startup Now Valued at $2.5 Billion
Following the startup’s partnership with Gamestop, the Sydney-based blockchain agency Immutable introduced it raised $200 million in a Series C financing spherical led by Temasek. The firm is now valued at $2.5 billion and Immutable plans to make use of the funds to scale the startup’s gaming studio.
Immutable Raises $200 Million, NFT Startup Aims to Bolster Gaming Studio
On Monday, the blockchain firm Immutable revealed it raised $200 million from buyers in a Series C funding spherical. The financing was led by Temasek alongside different individuals together with Tencent, Animoca Brands, Mirae Asset, and Airtree Ventures.
The group plans to leverage the funds to scale the gaming studio and enhance its non-fungible tokens (NFT) expertise on Ethereum. Immutable’s website claims the venture supplies “zero fuel charges, instantaneous trades, and carbon-neutral NFTs for marketplaces, video games, and purposes with out compromise.”
Speaking completely with Reuters, James Ferguson, Immutable’s chief government informed the information company that investing companies perceive the platform’s potential.
“Immutable is locked in on creating a number one, formidable, and reliable web3 ecosystem for a brand new period of creators that want scalable outcomes on the earth’s fastest-growing business,” Ferguson mentioned. “Our funding companions perceive the ability and potential of the Immutable X platform and can play an integral function on this subsequent part of our development.”
The $200 million capital elevate brings Immutable’s general valuation to $2.5 billion, based on the startup’s press statements. Last September, Immutable labored with the social media firm Tiktok and throughout the first week of February 2022, Immutable revealed a partnership with Gamestop.
After the corporate inked a cope with Gamestop, the platform’s native token immutable x (IMX) jumped 35% higher. At the time of writing, following the Series C financing spherical, immutable x (IMX) has gained 26.1% towards the U.S. greenback and 29.5% towards bitcoin (BTC).
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