Immutable Achieves Unicorn Status with $2.5 Billion Valuation

Share on facebook
Share on twitter
Share on linkedin

Cutting-edge crypto start-up, Immutable, has raised an incredible $200 million in its latest round of funding, increasing the overall company value to $2.5 billion, cementing its unicorn status in the process.

This astonishing financial drive was led by global investment firm, Temasek, while Chinese tech giant, Tencent, and blockchain gaming pioneers, Animoca Brands provided support. A number of other significant contributors participated in the round, including Mirae Asset, ParaFi Capital, Declaration Partners and many more.

1/ Major news: we’re thrilled to announce @Immutable has raised $200M in Series C funding @ $2.5B val.🎉

We’re supercharging our mission to make NFTs mainstream through high-quality blockchain games (and more).

— Immutable | $IMX (@Immutable) March 7, 2022

Going forward, Immutable will scale up its operations, with an aim to more than double its workforce over the next 12 months, while continuing to revolutionize the sector with its highly efficient layer 2 solution, Immutable X. A protocol favoured by gaming developers for its fast transactions, low fees and ecologically sound principles.

The latest investment drive follows off the back of the recent announcement that Immutable X will power Gamestop’s forthcoming gaming NFT marketplace as the plucky company continues to make waves with its zero-knowledge proof roll-up tech. This will enable them to roll-up thousands of contracts on the Immutable side chain, and deploy them on Ethereum in a single transaction.

As a result of its savvy business moves, the native $IMX token skyrocketed in value, up 40% as of writing, sitting pretty at a rate of $1.58 per token.


Related Posts