Immutable, an Australian NFT startup recently finalized new funding round, and it is now valued at $2.5 billion; Immutable was able to raise a nine-figure amount from investors.
Immutable: From Australia with love
Immutable is a Sydney-based entity, and they are well known for developing some of the most successful NFT games, including Gods Unchained, Guild of Guardians, and others. One feature that connects most of Immutable’s games is the in-game economy. Trades can be made through NFT cards, or rewards can be earned and traded for Ethereum in-game on most of their games.
A few months ago, Immutable made headlines when they announced their partnership with GameStop; as part of its terms, Immutable is to help launch GameStop’s NFT marketplace. What made this announcement more scintillating was the fact that there was an announcement regarding the launch of a $100 million fund to help support creators of NFT content, including Web3, metaverse gaming, and gaming studios.
During its last funding round in 2021, Immutable raised $60 million at a valuation of $400 million. That funding round was proof of support by industry professionals and helped the latest funding success.
Immutable has successfully become one of the most innovative and attractive NFT brands for investors. In the last few years, they’ve attracted big players, including large venture investors, blue-chip companies, and everyone in between. Immutable is a go-to for many institutional NFT investors because they’ve justified their worth.
Welcome to the Unicorn Club
In the world of startups, it’s a big deal for a company to be considered a unicorn, and unicorns are startups with a valuation of at least $1 billion. Most companies never hit this mark, but Immutable has successfully achieved unicorn status.
Immutable X recently concluded its latest round of funding, and this has been its most successfully funding exercise to date. This round raised funds from a consortium of investors led by Temasek, a Singaporean company.
On the 7th of March 2022, Immutable announced that their latest funding campaign now values the company at a whopping $2.5 billion. This is an impressive figure no matter how you consider it, and it’s exciting to see how much this company has grown in such a short time. Investors including Tencent Holdings, Declaration Partners, ParaFI Capital, Mirae Asset, and others put in $200 million at a valuation of $2.5 billion.
Immutable: X marks the Spot
Throughout Immutable’s existence, one of its most successful products has been Immutable X, a platform created to democratize NFT transactions. Immutable X allows the processing of transactions at a rate that’s not feasible on the Ethereum blockchain.
Transaction prices are also less or nonexistent in many cases on this platform. Sellers have more independence and control of transaction pricing. The computing power required to process transactions is considerably less than most other platforms.
Immutable is one company that takes research and developments seriously, and it comes as no surprise to anyone as to how they’ve been able to attain success in their space. Finally, they have also announced a $500 million fund for Web3 developers.