The leading web3 game company Immutable announces the launch of a $500 million ecosystem fund to boost the adoption of Web3 games and projects.
According to a press release, the Immutable Ventures fund will invest in and provide grants to companies that build on Immutable X, utilising a mix of IMX tokens and cash.
The fund is scheduled to deploy investments and grants over a four-year period, with an average estimated investment of $100,000 to $500,000 in tokens and cash.
StarkWare, game creation platform Stardust, and NFT game PlanetQuest are among the firms where Immutable has made investments thus far.
Immutable X is Ethereum’s first Layer 2 scaling solution focusing on NFTs. It batches thousands of transactions on its network and commits them to Ethereum mainnet.
This is done by using StarkWare’s zero-knowledge-based rollup method, increasing throughput and lowering transaction costs.
For further investment options, the $500M venture fund will partner with BITKRAFT, Animoca Brands, Arrington Capital, Double Peak, AirTree, King River Capital, and GameStop, as well as strategic gaming publishers.
Immutable claims that the fund will connect projects and developers with blockchain gaming experts, like consultants in tokenomics, game design, community growth, and marketing, in addition to giving capital.
In a Twitter thread, Robbie Ferguson, co-founder of Immutable, stated that this fund is being made to support the next generation of web3 games. He stated that gaming will be the source of the next billion web3 users.
The goal will be to collaborate with developers, IP owners, and strategic partners who want to encourage creators to work on games and other projects. This step will almost certainly boost the IMX token’s utility in the future.
Ferguson predicts that mid-market gaming firms will break into the web3 realm and be the fastest to the market in the next 24 months. He went on to say that over the following two years, more games will find their way into the web3 industry.
“The main thing is that it takes time to integrate web3 and takes time to build a good game. There’s going to be a huge influx of web3 games in eight to 12 months, and there’s going to be hundreds of Triple A games over the next few years,” he added.
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