Blockchain game publisher Immutable has introduced the “Inevitable Games Fund” (IGF), a $100 million investment fund aimed at supporting blockchain games. The fund, backed by venture capital firm King River Capital and Polygon Labs, is designed to be ecosystem-agnostic, with King River leading the investment process and Immutable and Polygon serving as advisors.
The fund’s first close raised $30 million, with notable contributions from VC firm Alpha Wave Ventures, Web3 gaming guild Merit Circle, and individuals like Michael Arrington and Steve Kokinos. The IGF has already made investments in seven blockchain game titles, including Pixelmon, Guild of Guardians, Metalcore, and My Pet Hooligan, all native to ImmutableX or Polygon.
Pixelmon, reminiscent of Pokémon, initially faced challenges, including negative reception to its art reveal in February 2022. However, it has since rebranded and secured an $8 million seed round last month, signaling a potential turnaround.
Immutable founder Robbie Ferguson believes that successful blockchain games will either break into the mainstream or see existing gaming leaders migrate to blockchain with a seamless onboarding experience comparable to traditional gaming.
King River co-founder Zeb Rice sees the gaming industry as ripe for a significant technological shift towards Web3, with the IGF poised to benefit from this transition.
While 2023 saw a decrease in funding for Web3 games and metaverse projects, blockchain games maintained the highest number of daily unique active wallets (UAW) in the decentralized application space. Polygon emerged as a key blockchain for gaming, bolstered by strategic partnerships like the one with Immutable.
Get $200 Free Bitcoins every hour! No Deposit No Credit Card required. Sign Up