On Friday, an NFT platform, Immutable, announced a $500 million venture fund for Web3 games and NFT projects. The fund will build on the Immutable X protocol with the company’s native token IMX.
In the press release, Immutable announced they would be collaborating with companies including Gamestop, Animoca, KITKRAFT, and many more. TikTok and Opensea are also already building on the platform.
Before this fund’s launch, Immutable invested in several other startups, including Starkware, Stardust, PlanetQuest, and Topology.
Earlier this year, Immutable raised $200 million in Series C funding and partnered with GameStop for the launch of an NFT marketplace.