Blockchain gaming platform Immutable raises $60 million

Blockchain gaming outfit Immutable has raised $60 million for its NFT platform Immutable X.

The Series B funding round was co-led by Bitkraft Ventures and King River Capital and included Prosus Ventures, Galaxy Interactive, Fabric Ventures, and Apex Capital, among others.

The recent funding brings Immutable’s total funding raised to date to $77.5 million.

Immutable will use the capital raised to strengthen partnerships with gaming companies and grow its engineering and sales team.

The company will also continue to further develop its current games including Gods Unchained and mobile RPG Guild of Guardians, which is due in 2022. 

The company’s Ethereum-based Layer-2 scaling solution platform, Immutable X, allows fast and cheap transactions and is used by games such as War Riders and Illuvium.

Immutable X utilises StarkWare's ZK-rollup technology, allowing massive scalability without compromising security.

Irrefutably Immutable 

"NFT trading is a terrible mainstream user experience right now," said Immutable co-founder Robbie Ferguson.

"It’s expensive, illiquid, and the only existing scaling solutions compromise on the most important thing - the security and user-base of Ethereum. We want businesses to create their game, marketplace, or NFT application within hours via APIs, with a mainstream user experience. No blockchain programming required."

Bitkraft Ventures founding partner Jens Hilgers added: "We have been encouraged by the strong momentum around the Ethereum ecosystem, and are excited by the prospects of this next-generation scalability infrastructure broadening accessibility for a new wave of blockchain game developers.

Last month, Sky Mavis’ Axie Infinity surpassed one million DAUs, highlighting that blockchain gaming shows no signs of slowing down.