Ethereum Startup Immutable Launches $500M Fund Focused on Web3 Games

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Ethereum-based NFT scaling solution developer Immutable has announced the $500M Ecosystem Fund launch.

According to the company, the fund will focus on funding Web3 game developers and NFT-focused startups powered by Immutable. The structure plans to cooperate with other investors, including Animoca Brands, Arrington Capital and GameStop.

Immutable co-founder Robbie Ferguson has said the main goal is to make next-gen Web3 games scale and drive adoption.

Immutable raised in September last year $12.5 million in an IMX token sale on the CoinList platform.

That same month, the startup closed a $60 million Series B funding round.