Immutable Earmarks $500M Fund for Gaming, Web3 Development

The company’s goal is to foster mass adoption of gaming, collectibles, music and sports NFTs

article-image

Blockworks exclusive art by axel rangel

share

key takeaways

  • The new fund seeks to establish co-funds with VC partners and issuing grants to developers
  • GameFi Investment in the first half of 2022 has reached $3.7 billion, up 99% year over year

Layer-2 Ethereum scaling solution Immutable plans to launch a $500 million fund to allocate token grants and investments into the Immutable X protocol with the two-fold intention of incentivizing game developers and spurring user adoption of Web3 projects building on the platform.

Loading Tweet..

The fund, which is a mix of both cash and Immutable X’s native token IMX, combines assets from Animoca Brands, GameStop and VC firms such as Airtree, BITKRAFT, Arrington Capital, Double Peak and King River Capital. 

From meeting funding requirements for scaling projects to designating a milestone-based IMX vesting schedule, the focus is on developers.

Current gaming developers and intellectual property holders on Immutable X include TikTok, Illuvium, Ember Sword, GreenPark Sports, ESL, Gary Vee’s Vee Friends, Playco and GameStop, which launched its NFT marketplace via the platform.

The Immutable Developer and Venture Fund also plans to provide partnering game studios with advisory support when it comes to the NFT (non-fungible token) gaming world, tokenomics, game design, community and marketing.

“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,” Immutable CEO James Ferguson said in a statement. 

The scaling solution’s other co-founder and president, Robbie Ferguson, added that “gaming is bigger than movies and music combined, and is compounding by 10% every year” with the potential of growing into a trillion dollar ownable economy over the next decade.

In terms of volume for the week gone by, the Harmony blockchain-based game DeFi Kingdoms takes the crown, peaking on June 12 at over $17 million transacted within the game, according to Footprint Analytics. Gaming and decentralized finance (GameFi) fundraising remains steady, up 0.8% month over month, with a total of $7.7 billion raised.

Immutable previously told Blockworks that the company anticipates to continue “aggressive” hiring, thanks to more than four years of funding runway. In March, the Australian unicorn raised $200 million in a series C fundraising round led by Temasek, bringing its valuation to $2.5 billion.

Founded in partnership with StarkWare in 2018, Immutable 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.

On Thursday, Immutable announced a corporate rebrand that includes an updated logo to more clearly differentiate between Immutable, Immutable X and the Immutable Studio, the company said.


Get the news in your inbox. Explore Blockworks newsletters:

Tags

Decoding crypto and the markets. Daily, with Byron Gilliam.

Upcoming Events

Old Billingsgate

Mon - Wed, October 13 - 15, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

Industry City | Brooklyn, NY

TUES - THURS, JUNE 24 - 26, 2025

Permissionless IV serves as the definitive gathering for crypto’s technical founders, developers, and builders to come together and create the future.If you’re ready to shape the future of crypto, Permissionless IV is where it happens.

Brooklyn, NY

SUN - MON, JUN. 22 - 23, 2025

Blockworks and Cracked Labs are teaming up for the third installment of the Permissionless Hackathon, happening June 22–23, 2025 in Brooklyn, NY. This is a 36-hour IRL builder sprint where developers, designers, and creatives ship real projects solving real problems across […]

recent research

Research Report Templates (19).png

Research

Suilend has grown into the top money market and liquid staking provider on Sui. STEAMM, Suilend’s Superfluid AMM, presents a compelling avenue for growing market share within Sui’s DEX landscape and revenue generation for the protocol. Suilend’s multi-product suite position it well for owning market share across key verticals. While current metrics across the Sui ecosystem are likely inflated due to Sui Foundation incentive programs, SEND trades at amongst the lowest multiples in the lend/borrow sector, suggesting that a bull case for continued growth in the ecosystem may be mispriced.

article-image

The best capital markets are open to the most people — and crypto capital markets are open to everyone

article-image

Post-conference musings on Firedancer, Kraken, Solana Mobile and Trump

article-image

Executives expect others to follow SharpLink Gaming’s lead in purchasing an asset that has surged this past month

article-image

After a weekend of tariff policy shifts, investors appear confident that trade deals are underway

article-image

Multiple rounds of prior audits did not catch the flaw, the DEX said

article-image

StarkWare launches new consumer-grade hardware ZK prover