Immutable Raises $200 Million in Temasek-Led Series C, NFT Startup Now Valued at $2.5 Billion – Finance Bitcoin News


Following the startup’s partnership with Gamestop, the Sydney-based blockchain agency Immutable introduced it raised $200 million in a Sequence C financing spherical led by Temasek. The corporate is now valued at $2.5 billion and Immutable plans to make use of the funds to scale the startup’s gaming studio.

Immutable Raises $200 Million, NFT Startup Goals to Bolster Gaming Studio

On Monday, the blockchain firm Immutable revealed it raised $200 million from buyers in a Sequence C funding spherical. The financing was led by Temasek alongside different members together with Tencent, Animoca Manufacturers, Mirae Asset, and Airtree Ventures.

The staff plans to leverage the funds to scale the gaming studio and enhance its non-fungible tokens (NFT) expertise on Ethereum. Immutable’s web site claims the undertaking supplies “zero fuel charges, instantaneous trades, and carbon-neutral NFTs for marketplaces, video games, and purposes with out compromise.”

Immutable Raises $200 Million in Temasek-Led Series C, NFT Startup Now Valued at $2.5 Billion
Following the announcement, immutable x (IMX) 24-hour stats present a 26.1% acquire on March 7, 2022.

Talking completely with Reuters, James Ferguson, Immutable’s chief govt advised the information company that investing companies perceive the platform’s potential.

“Immutable is locked in on creating a number one, formidable, and reliable web3 ecosystem for a brand new period of creators that want scalable outcomes on this planet’s fastest-growing business,” Ferguson mentioned. “Our funding companions perceive the ability and potential of the Immutable X platform and can play an integral function on this subsequent section of our development.”

The $200 million capital increase brings Immutable’s total valuation to $2.5 billion, in accordance with the startup’s press statements. Final September, Immutable labored with the social media firm Tiktok and throughout the first week of February 2022, Immutable revealed a partnership with Gamestop.

After the corporate inked a cope with Gamestop, the platform’s native token immutable x (IMX) jumped 35% increased. On the time of writing, following the Sequence C financing spherical, immutable x (IMX) has gained 26.1% in opposition to the U.S. greenback and 29.5% in opposition to bitcoin (BTC).

Tags on this story

Airtree Ventures, Animoca Manufacturers, Content material creators, Creators, ETH, Ethereum, Finance, GameStop, Immutable X, IMX, IMX coin, funding, James Ferguson, L2, layer 2, Layer two, Mirae Asset, nft, NFT fund, NFT Market, NFT market, NFTs, Non-fungible Token, Sequence C financing, Temasek, tencent, tiktok

What do you concentrate on Immutable elevating $200 million in a Sequence C financing spherical? Tell us what you concentrate on this topic within the feedback part beneath.

Jamie Redman

Jamie Redman is the Information Lead at Bitcoin.com Information and a monetary tech journalist dwelling in Florida. Redman has been an lively member of the cryptocurrency neighborhood since 2011. He has a ardour for Bitcoin, open-source code, and decentralized purposes. Since September 2015, Redman has written greater than 5,000 articles for Bitcoin.com Information concerning the disruptive protocols rising at the moment.

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