Startup layer-2 above Immutable just announced a $500 million development fund to fund projects , especially the game segment.

Immutable sets up a $500 million fund to develop Web3 games

The Foundation will provide grants and investments in game titles , especially projects . To be funded, projects must be deployed on Immutable X, a layer-2 protocol designed to speed up and reduce transaction costs for .

Immutable has partnered with Bitkraft, Animoca Brands, Airtree, King River and GameStop to set up the fund. Speaking about the event, Immutable said:

“Inheriting the success of Unchained () and (GOG) and owns the best team invited from top studios like Riot Games. We can fully provide the necessary support from tokenomic building knowledge, gameplay to marketing strategy for world-class blockchain games that choose to build on our protocol.”

Price had quite a positive reaction to the above news, increasing 6.4% from 0.735 to 0.798 USD, just below the peak of the previous month by 0.001 USD.

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1h chart of the IMX/ pair on the floor at 08:30 AM on June 18, 2022

In addition to Immutable X, the company also emerged with many titles game NFT Notably, there are Gods Unchained (GODS) and (GOG), two projects have been opened to sell tokens on in September and October last year.

Immutable successfully raised $200 million from many big names on March 7, raising the company's valuation to $2.5 billion.

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