NFT gaming company receives $200 million and becomes $2.5 billion unicorn



Preguntas frecuentes juegos Play to Earn


Startup Immutable X, a scalability solution for NFTs and Ethereum gaming, is the latest unicorn after a recent capital raise
By Decrypt 07 Mar, 2022 18:04

On Monday (7), Immutable, the Australian startup that has developed a second-layer Ethereum scaling solution for games and non-fungible tokens (or NFTs), announced that it has raised $200 million in a “Series C” funding round (an amount that will support operations and drive growth) and is valued at $2.5 billion.

The company joins a growing list of “crypto unicorns,” startups valued at $1 billion or more.

The $200 million round was led by investment firm Temasek, with participation from Chinese gaming giant Tencent and leading Metaverse investment firm Animoca Brands.

Other new investors include Arrington Capital, Mirae Asset and Liberty Global, while Alameda Research and Possible Ventures are among the firms that have increased their total investments.

The week in CryptoTwitter: Ukraine cancels airdrop and OpenSea blocks users from Iran
Apple co-founder praises Bitcoin’s mathematical purity
Fantom, Solana, Near, Cosmos continue to fall and cryptocurrency market loses $76 billion
Immutable is the company behind Immutable X, a second-tier platform that runs on the Ethereum blockchain.

Transactions on Immutable X are far cheaper and faster than on Ethereum’s own network, and require far less processing power than transactions on Ethereum’s power-hungry proof-of-work (or PoW) network itself.

Immutable X uses StarkEx’s zero-knowledge (or ZPK) technology to bundle thousands of transactions on its own network and send them to Ethereum in a single transaction.

Amid other notable Ethereum scalability solutions such as Polygon, Arbitrum, and Optimism, Immutable X has sought to carve out a niche as a platform for video games and NFT collectibles.

Leave a Reply

Your email address will not be published. Required fields are marked *