Australia’s Immutable X Raises $200 Million, IMX Token Soars

By Lauren Claxton March 09, 2022 In Australia, Gaming, NFTs

Australia’s gaming start-up, Immutable, has announced that its most recent funding round has pushed the company’s value to US$2.5 billion. According to an Immutable Twitter thread, the $200 million round was led by investors from Singaporean company Temasek.

Immutable Supercharges Its Mission

Sydney-based blockchain firm Immutable, the start-up behind the scaling solution for Ethereum NFT games – Immutable X – has just joined the ranks of the crypto unicorns (ie, crypto start-ups worth at least a billion dollars). This comes after its latest round of funding, led by Temasek investors alongside metaverse investment firm Animoca Brands and Chinese Temacent. The increase in funding was not the only benefit Immutable received. As a result of the firm’s promotion to unicorn status, Immutable’s token (IMX) has also soared.

Immutable’s previous funding round in 2021 saw it garner US$410 million. Currently, the Immutable X price prediction is neutral; however, the company only seems to be moving from strength to strength. Immutable hopes that the fresh funds will supercharge its goal of pushing NFTs mainstream through high-quality blockchain games.

IMX Pursues Gaming Industry

Immutable X established several high-profile partnerships and deals in late 2021 and early 2022. A partnership was solidified in October with ESL Gaming, a leading Esports company, which provided the ESL Pro Tour NFTs with gasless trading on its platform.

More recently, Immutable X entered a contract with retail game giant GameStop to develop its new NFT marketplace, with the addition of a US$100 million innovation fund to support the NFT space and its creators.

Lauren Claxton

Lauren Claxton

Lauren is currently a freelance writer with experience in finance writing. She has a growing interest in the metaverse and all things NFTs and expects to graduate in 2022 with bachelors degrees in creative writing and public relations.

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