econintersect.com
  • 토토사이트
    • 카지노사이트
    • 도박사이트
    • 룰렛 사이트
    • 라이브카지노
    • 바카라사이트
    • 안전카지노
  • 경제
  • 파이낸스
  • 정치
  • 투자
No Result
View All Result
  • 토토사이트
    • 카지노사이트
    • 도박사이트
    • 룰렛 사이트
    • 라이브카지노
    • 바카라사이트
    • 안전카지노
  • 경제
  • 파이낸스
  • 정치
  • 투자
No Result
View All Result
econintersect.com
No Result
View All Result
Home Business

Australia’s Immutable Allocate $500M To Support Web3 Gaming And NFT Startups

admin by admin
6월 20, 2022
in Business
0
Australia’s Immutable Allocate $500M To Support Web3 Gaming And NFT Startups
0
SHARES
0
VIEWS

Immutable, an Australian-based Web3 gaming firm, has introduced an inaugural $500 million developer and venture investment fund. Immutable will distribute allocated funds to companies developing the Web3 ecosystem and non-fungible token startups.

Immutable, the Fastest Australian Company to Reach Unicorn Status,

In an exclusive interview on June 20, Robbie Ferguson, the co-founder and the President of Immutable, confirmed the allocation of half a billion-dollar ($500M) to support developers that build blockchain-based games and NFT projects. The Australian gaming firm now intends to integrate innovations in the Web3 gaming sector. Ferguson noted:

“We see gaming being one of the biggest opportunities in Web3 to have ever existed. The total addressable market will be enormous and much bigger than what gaming is today – a $100 billion industry for in-game items alone.”

The top executive believes that the allocated half a billion funds will trigger and accelerate the growth of the gaming sector to more than $1 trillion in the future, assuming the film and music industry show interest in joining the NFT space.

According to Ferguson, the funding initiative saw the participation of prominent gaming venture partners such as Animoca Brands, GameStop, BITKRAFT, Arrington Capital, and Double Peak. Immutable will amassed some of the funds in question from cash-backed on the firm’s balance sheet:

“There’s obviously all our venture partners who are using their balance sheets and VC allocations to come in on these deals, there’s cash-backed on [Immutable’s] balance sheet, and there’s also the foundation’s grants, which are specifically designed for this purpose to incentivize and build the Immutable ecosystem.”

Ferguson believes that the middle-sized gaming studios will flourish and become the fastest-growing companies in the market in the upcoming years. He anticipates that the remarkable performance will attract more blockchain-based games to join the Web universe:

“The main thing is that it takes time to integrate Web3 and also takes time to build a good game. There’s going to be a huge influx of Web3 games in eight to 12 months, and there’s going to be hundreds of Triple-A games over the next few years.”

Buy Bitcoin Now

Immutable Amassed $200M In Its Previous Funding Round

Earlier this year, Immutable closed its funding round that successfully raised $200 million. The funding initiative led by the Singaporean investment giant Temasek saw the participation of notable investors, including Arrington Capital, Princeville Capital, and ParaFi Capital.

According to the team behind Immutable, these funds will go towards expanding its team and supporting its gaming studio, including popular blockchain games like Guild of Guardian and Gods Unchains. At the time, the funding raised the company’s valuation to more than $2.5 billion.

Tags: Animoca BrandsArrington CapitalAustraliaBITKRAFTDouble PeakGameStopImmutableNFTNFT startupsnonfungible tokensParaFi CapitalPrinceville CapitalTemasekWeb3 gaming
Previous Post

NFT Ticketing May Gain Adoption Quicker In France After UEFA Championship Fiasco

Next Post

Ocado To Collect £575M From Investors To Fund Tech Arm Expansion  

Related Posts

SEC Accepts BlackRock’s Spot Bitcoin ETF Application
Business

SEC Accepts BlackRock’s Spot Bitcoin ETF Application

by admin
US Senate Finance Committee Asks Crypto Community How To Tax It In Open Letter
Business

US Senate Finance Committee Asks Crypto Community How To Tax It In Open Letter

by admin
Arkham Intel Firmly Denies Affiliation With US Government Amid Criticism Over Privacy
Business

Arkham Intel Firmly Denies Affiliation With US Government Amid Criticism Over Privacy

by admin
What Does Persistent Inflation Mean For Bitcoin?
Business

What Does Persistent Inflation Mean For Bitcoin?

by admin
When Will Crypto Go Mainstream?
Business

When Will Crypto Go Mainstream?

by admin
Next Post
Ocado To Collect £575M From Investors To Fund Tech Arm Expansion

Ocado To Collect £575M From Investors To Fund Tech Arm Expansion  

답글 남기기 응답 취소

이메일 주소는 공개되지 않습니다. 필수 필드는 *로 표시됩니다

Browse by Category

  • Business
  • Econ Intersect News
  • Economics
  • Finance
  • Politics
  • Uncategorized

Browse by Tags

adoption altcoins bank banking banks Binance Bitcoin Bitcoin market blockchain BTC BTC price business China crypto crypto adoption cryptocurrency crypto exchange crypto market crypto regulation decentralized finance DeFi Elon Musk ETH Ethereum Europe Federal Reserve finance FTX inflation investment market analysis Metaverse NFT nonfungible tokens oil market price analysis recession regulation Russia stock market technology Tesla the UK the US Twitter

Categories

  • Business
  • Econ Intersect News
  • Economics
  • Finance
  • Politics
  • Uncategorized

© Copyright 2024 EconIntersect

No Result
View All Result
  • 토토사이트
    • 카지노사이트
    • 도박사이트
    • 룰렛 사이트
    • 라이브카지노
    • 바카라사이트
    • 안전카지노
  • 경제
  • 파이낸스
  • 정치
  • 투자

© Copyright 2024 EconIntersect