Immutable, a Non-Fungible Token (NFT) startup based in Australia, has raised $200 million in a series-C funding round headed by Singapore’s government-owned investment firm Temasek.
Other investors in the round include Mirae Assets, ParaFi Capital, Declaration Partners, and Tencent Holdings, according to a Reuters story on Monday.
The latest fundraising round brings the Immutable’s worth to $2.5 billion, adding to the previously raised $60 million in September 2021. In 2019, Immutable additionally raised $15 million in a Series A investment.
Immutable co-founder Robbie Ferguson stated that the new funding will be committed to the company’s global expansion and that more talent will be added to various departments such as sales and marketing. In addition, the startup intends to investigate potential Mergers and Acquisitions (M&A) options.
Immutable is the company behind Immutable X, an NFT-focused layer-2 scaling solution. Several sites, including NFT marketplace OpenSea, social media platform TikTok, and video game retailer GameStop, are currently using the network. When compared to Ethereum, the second-largest blockchain network, Immutable X allows transactions to occur at a considerably faster rate.
Popular NFT games made by the Australian firm include Gods Unchained and Guild of Guardians. Many other companies, like Immutable, have conducted many investment rounds, the proceeds of which have been used to promote and develop blockchain games in some way.
Solana Ventures, the investment arm of Solana Labs, joined with Forte and Griffin Gaming Partners late last year to form a $150 million investment fund to invest in gaming firms built on the Solana blockchain.
Yield Guild Games (YGG), a decentralized autonomous organization (DAO) focusing on investing in NFT-based games, raised $4.6 million in a funding round as well. A portion of the funds were invested in digital assets such as games and virtual worlds.