Immutable raises $200M to invest in Blockchain gaming, Company now valued at $2.5B.

The organization's valuation developed from just $410 million out of 2021, mirroring the quick extension of the NFT economy.

Australian NFT exchanging stage Immutable reported a $200 million Series C financing round drive, principally by Singaporean state-possessed venture company Temasek, and with interest from Animoca Brands and Tencent. Extra funding came from Princeville Capital, Parafi Capital, and Arrington Capital.  Other companies investing in the project include existing partners, King River Capital, Airtree Ventures, Prosus Ventures,  and Declaration Partners. These collaborations have raised Immutable’s Valuation to $2.5 Billion.

Immutable plans to use these funds toward developing its Immutable X layer-2 scaling solution for nonfungible tokens (NFTs) on the Ethereum network and scaling Immutable Gaming Studio, which includes its flagship Gods Unchained and Guild of Guardians video games. Immutable X uses StarkWare’s StarkEx zero-knowledge proof technology on the Ethereum network, which  provides developers with a carbon-neutral environment, and zero gas fees.

Immutable’s co-founder and President Robbie Ferguson , tweeted that the future of gaming depends on NFT economies, and that Immutable will be a trailblazer in the NFT industry.

To bring the companies plan of “global rapid expansion” to reality, they have brought in four new executives, Justin Hulog, former Riot Games GM, to be the Chief Studio Officer, John Boris, former CEO of IfONly, will be the new Chief Growth Officer, Katherine Rau, as Chief People Officer, and lastly Gill Findlay, current AirTree ventures partner, will be the new Chief Operating Officer. 

Immutable recently partnered with GameStop to start work on the company's NFT marketplace, as well as sponsor a $100 Million Grant program.

Immutable X clients include TikTok, Ember Sword, OpenSea, and Gary Vee’s Vee Friends.

Immutable is Australia’s fastest privately held Start up company to be valued at over $1 Billion, gaining the company “Unicorn Status”.