According to the startup’s press releases, the $200 million capital investment raises Immutable’s overall valuation to $2.5 billion. Immutable (IMX) collaborated with Tiktok, a social networking platform, in September, and announced a relationship with Gamestop in the first week of February 2022.
The platform’s native token, Immutable x (IMX), soared 35 percent higher after the company secured a partnership with Gamestop. Following the Series C funding round, immutable x (IMX) has gained 26.1 percent versus the US dollar and 29.5 percent against bitcoin at the time of writing (BTC).
Immutable, a blockchain startup, announced on Monday that it had raised $200 million in a Series C fundraising round from investors. Temasek led the investment round, which also included Tencent, Animoca Brands, Mirae Asset, and Airtree Ventures.
The funding will be used to expand the gaming studio and strengthen its Ethereum non-fungible tokens (NFT) technology. “Zero gas fees, rapid transactions, and carbon-neutral NFTs for marketplaces, games, and applications without compromise,” according to Immutable’s website.
Immutable’s chief executive, James Ferguson, told Reuters in an exclusive interview that investors recognize the platform’s potential.
“Immutable is committed to building a leading, ambitious, and trustworthy web3 ecosystem for a new generation of innovators seeking scalable solutions in the world’s fastest-growing business,” Ferguson said. “Our investment partners see the Immutable X platform’s power and potential, and they will play a critical role in our next phase of growth.”
According to the startup’s press releases, the $200 million capital investment raises Immutable’s overall valuation to $2.5 billion. Immutable collaborated with Tiktok, a social networking platform, in September, and announced a relationship with Gamestop in the first week of February 2022.
The platform’s native token, immutable x (IMX), soared 35 percent higher after the company secured a partnership with Gamestop. Following the Series C funding round, immutable x (IMX) has gained 46.12 percent versus the US dollar and 38.58 percent against bitcoin at the time of writing (BTC).
