Aussie Tech Unicorn ‘Immutable X’ Launches $40 Million Fund for Blockchain Games

May 28, 2022, 9:30 AM AEST - 1 month ago

Australia-based Immutable X has joined forces with gaming company Kongregate to establish a US$40 million fund giving grants to developers who make blockchain games.

Chipping in Towards Blockchain Gaming Development

Immutable X is well-known in the blockchain gaming space and has also developed an ETH-based scaling solution to enable faster in-game transactions. This week, the company announced a US$40 million fund comprising an IMX token pool that will be awarded as grants to blockchain game integrations on Kongregate’s web-based gaming platform.

Developers are said to benefit from Kongregate’s end-to-end integration solution, which is designed to ensure that each game is a “fun and engaging experience for players”. Markus Lipp, Kongregate’s CEO, added:

We want our players to be owners in their personal gaming journeys. Blockchain technology allows us to give them a deeper experience in ways not possible with traditional games, from enabling players to help to shape what comes next in the storylines they love to being able to maintain their unique character across titles.

Markus Lipp, CEO, Kongregate

According to Lipp, the partnership with Immutable X would ensure that “our players have the best NFT experience possible with technology that brings true innovation to gameplay, while also ensuring it’s green and scalable”.

Robbie Ferguson, co-founder and president of Immutable X, saw the partnership as an opportunity “to help power the next generation of blockchain games”, adding:

With today’s launch of our blockchain developer fund, we’re excited to deepen our relationship with Kongregate as we work together to attract the best and brightest developers to build new titles on Kongregate’s relaunched Web3 platform.

Robbie Ferguson, co-founder and president, Immutable X

One Success After the Next

Immutable X is regularly making headlines these days, seemingly enjoying one success after another. After raising US$200 million earlier this year, strategic partnerships appear to be one of the key elements driving the company’s growth.

Last year, the company partnered with an e-sports platform to enable “gasless” NFTs. More recently, in February Immutable X teamed up with GameStop in a US$100 NFT platform deal.

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