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, with investments from leading blockchain game juggernaut Animoca Brands and technology company Tencent, bringing its valuation to $2.5 billion. ParaFi Capital, Princeville Capital, Arrington Capital, Mirae Asset and Liberty Global also joined the round as new investors. King River Capital, Prosus Ventures, AirTree Ventures, Declaration Partners, Fabric Ventures, Possible Ventures and Alameda Research all increased their existing investments in Immutable.
This capital will be used to fuel Immutable’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. With a team of 165 people, 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. Immutable will also 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. Current companies building on Immutable X include GameStop, TikTok, Opensea, Ember Sword, Illuvium, GreenPark Sports, and Gary Vee (Vee Friends).
NFT integration gives users true ownership and the ability to buy, sell, trade, and play-and-earn in-game assets. Immutable X is built using StarkWare’s StarkEx cutting-edge zero-knowledge proof technology, which rolls up hundreds of thousands of transactions into one while positioning users to safely secure digital assets directly on Ethereum. This enables Immutable to provide game developers and all NFT creators with unparalleled throughput and zero gas fees for trading and minting NFTs in a carbon-neutral environment, empowering them to create billions of low-cost, in-game assets that can easily be bought and sold.
“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.