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NFT trading platform Immutable has announced it closed $200 million Series C funding round led by Singaporean state-owned investment firm Temasek with participation from well known investors Animoca Brands and Tencent. Additional investments came from ParaFi Capital, Princeville Capital and Arrington Capital and existing backers King River Capital, Prosus Ventures, AirTree Ventures, Declaration Partners.
The latest capital injection leads to Immutable being valued at $2.5 billion with the firm intending to put the new capital into its Immutable X layer-2 scaling solution for nonfungible tokens (NFTs) on the Ethereum network and scaling up Immutable Gaming Studio, which includes its flagship Gods Unchained and Guild of Guardians video games.
Immutable is also looking to expand its 165-person team by adding 200 new employees worldwide this year.
Robbie Ferguson, Immutable’s co-founder and president, told his Twitter following that the future of gaming cannot be without NFT economies and that Immutable chooses to be a pioneer in the space.
A month ago, Immutable signed a deal with GameStop to develop the game retailer’s upcoming NFT marketplace.