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

Time Stamp: March 7, 2022 4:59 PM
Source Node: 1203831


Following the startup’s partnership with Gamestop, the Sydney-based blockchain agency Immutable introduced it raised $200 million in a Series C financing spherical led by Temasek. The firm 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 Aims to Bolster Gaming Studio

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

The workforce plans to leverage the funds to scale the gaming studio and enhance its non-fungible tokens (NFT) know-how on Ethereum. Immutable’s website claims the mission gives “zero gas fees, instant trades, and carbon-neutral NFTs for marketplaces, games, and applications without 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.

Speaking solely with Reuters, James Ferguson, Immutable’s chief government advised the information company that investing corporations perceive the platform’s potential.

“Immutable is locked in on developing a leading, ambitious, and dependable web3 ecosystem for a new era of creators that desire scalable results in the world’s fastest-growing industry,” Ferguson mentioned. “Our investment partners understand the power and potential of the Immutable X platform and will play an integral role in this next phase of our growth.”

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

After the corporate inked a take care of Gamestop, the platform’s native token immutable x (IMX) jumped 35% higher. At the time of writing, following the Series C financing spherical, immutable x (IMX) has gained 26.1% towards the U.S. greenback and 29.5% towards bitcoin (BTC).

Tags on this story
Airtree Ventures, Animoca Brands, Content creators, Creators, ETH, Ethereum, Finance, GameStop, Immutable X, IMX, IMX coin, investment, James Ferguson, L2, layer 2, Layer two, Mirae Asset, nft, NFT fund, NFT Market, NFT marketplace, NFTs, Non-fungible Token, Series C financing, Temasek, tencent, tiktok

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Jamie Redman

Jamie Redman is the News Lead at Bitcoin.com News and a monetary tech journalist dwelling in Florida. Redman has been an energetic 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 News in regards to the disruptive protocols rising as we speak.

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