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

Following the startup’s concern with Gamestop, the Sydney-based blockchain steadfast Immutable announced it raised $200 cardinal successful a Series C financing circular led by Temasek. The institution is present valued astatine $2.5 cardinal and Immutable plans to usage the funds to standard the startup’s gaming studio.

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

On Monday, the blockchain institution Immutable revealed it raised $200 cardinal from investors successful a Series C backing round. The financing was led by Temasek alongside different participants including Tencent, Animoca Brands, Mirae Asset, and Airtree Ventures.

The squad plans to leverage the funds to standard the gaming workplace and amended its non-fungible tokens (NFT) exertion connected Ethereum. Immutable’s website claims the task provides “zero state fees, instant trades, and carbon-neutral NFTs for marketplaces, games, and applications without compromise.”

Following the announcement, immutable x (IMX) 24-hour stats amusement a 26.1% summation connected March 7, 2022.

Speaking exclusively with Reuters, James Ferguson, Immutable’s main enforcement told the quality bureau that investing firms recognize the platform’s potential.

“Immutable is locked successful connected processing a leading, ambitious, and dependable web3 ecosystem for a caller epoch of creators that tendency scalable results successful the world’s fastest-growing industry,” Ferguson said. “Our concern partners recognize the powerfulness and imaginable of the Immutable X level and volition play an integral relation successful this adjacent signifier of our growth.”

The $200 cardinal superior rise brings Immutable’s wide valuation to $2.5 billion, according to the startup’s property statements. Last September, Immutable worked with the societal media institution Tiktok and during the archetypal week of February 2022, Immutable revealed a concern with Gamestop.

After the institution inked a woody with Gamestop, the platform’s autochthonal token immutable x (IMX) jumped 35% higher. At the clip of writing, pursuing the Series C financing round, immutable x (IMX) has gained 26.1% against the U.S. dollar and 29.5% against bitcoin (BTC).

What bash you deliberation astir Immutable raising $200 cardinal successful a Series C financing round? Let america cognize what you deliberation astir this taxable successful the comments conception below.

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