Immutable Has Launched its First $500M Web3 Gaming Developer & Venture Fund
In case you didn't get the memo, Immutable just launched its first $500 million Developer and Venture fund to boost Web3 gaming. So builders out there, what are you waiting for? We're counting on you for the next GameFi summer. Read on to find out more!
About the $500 million Immutable Developer & Venture Fund
Yesterday, Sydney-based NFT startup Immutable launched its first $500 million Developer and Venture fund to boost Web3 gaming. This is especially so as the company is looking to speed up Web3 gaming adoption on its flagship Ethereum L2 scaling protocol - the Immutable X (IMX).
As the name implies, there are 2 key areas that the fund is focusing on. One is to issue development grants to promising games and projects. While the other one focuses on establishing venture funds. According to Immutable, successful grant applicants will receive the funding in $IMX tokens, after they have unlocked certain milestones in stages. This is to prevent bad actors from dumping the tokens before achieving any deliverables.
On the other hand, the company is setting up co-funds with leading venture firms. These VCs include BITKRAFT, Animoca, Airtree, King River, GameStop, and more. With that, these funds will provide extra investment opportunities for all successful applicants.
What else is on the table?
Apart from financial aid, Immutable will also provide applicants with the right tools and knowledge to build blockchain games on IMX. Make no mistake, the company already hired the brightest minds from leading studios such as Riot Games. To date, the unicorn startup had also published 2 successful NFT games, namely Gods Unchained and Guild of Guardians. So fellow builders, rest assured that you will get to learn from the best in terms of tokenomics, game design, product marketing, and more if enlisted.
“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, Co-Founder of 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.”
If you're one of the aspiring creators, feel free to contact Immutable Ventures and drop your proposals on its official website.