Immutable Launches $500 Million NFT and Gaming Fund

Layer 2 scaling solution for NFTs Immutable has revealed that it will launch a $500 million web3 NFT and gaming fund. The Immutable Developer & Venture Fund will be allocated towards web3 games and NFTs.

In a Nutshell:

• The fund will be broken down into ventures and grants, with the goal of establishing the foundation for web3 games to flourish.
• Immutable is partnering with entities like Animoca and GameStop to create an investment fund.
• Immutable co-founder Robbie Ferguson said that the gaming industry could be worth as much as $1 trillion, if other media like movies and music are used inside games.

What it Means:

• Immutable is at the heart of web3 development and could find itself supporting some of the fastest growing companies in the space. Web3 has been the talk of the town and gaming in particular has a lot to gain from blockchain implementation. Such a large fund could very entirely transform the gaming industry and put NFTs well and truly into the mainstream.