Unchangeable notch rating of $ 2.5 billion after financing the series C

Unchangeable notch rating of $ 2.5 billion after financing the series C

Immutable, creator of the NFT-focused Layer 2-scaling protocol Immutable X, secured series C financing of $ 200 million and started the startup based in Sydney with an evaluation of $ 2.5 billion.

Under the leadership of Temasek, the investors of the Financing round Animoca Brands, Tencent, Parafi Capital, Princeville Capital, Arrington Capital, Mirae Asset and Liberty Global.

King River Capital, Prosus Ventures, Airtree Ventures, Declaration Partners, Fabric Ventures, Possible Ventures and Alameda Research increased all of their existing investments in immutable.

"We will grow from 170 to 350 employees in the course of next year- we are investing in a global partnership and gaming consulting team and triple our product and development teams," said Robbie Ferguson, co-founder of Immutable, to block works.

Immutable made headlines for the development of immutable X, which supported the NFT collection (non-fungable token) from Tiktok. It was invoiced as the first Layer 2 protocol on Ethereum, which enabled immediate trading and no gas fees, which often served as an obstacle for the characteristics of NFTS.

At the beginning of this month, Immutable announced a common fund of $ 100 million with a gamestop for blockchain gaming startups.

The company was founded in 2018 by the brothers Robbie and James Ferguson.

"In 2017 we saw how NFTS came out with cryptopunks and [My Brother and I] said, 'This is'," said Robbie. "This becomes tremendous because there are more unique things in the world that can be owned than there are currencies. The ability to have digital property rights will be the most important thing."

In the early years, immutable was known for this, " Götter unleashed ", which Robbie as "The first multiplayer game with nfts on Ethereum, [All] Fully on-Chain."

Since then, however, the company has expanded and introduced token as IMX in September, which were sold out on coin list in less than an hour and earned over $ 12.5 million.

In the same month, Immutable announced a Series B financing round of $ 60 million in order to boost NFT trading. Bitkraft Ventures and King River Capital led the round together, with the participation of Alameda Research, Galaxy Interactive, Vaynerfund and Apex Capital.

Together with the announcement of Monday, immutable new C-Suite employees announced, including former Riot Games manager Justin Hulog. The startup also won the former Chief Marketing Officer from Shutterfly, John Boris, as Chief Growth Officer.

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The article Immutable Notches $ 2.5b Valuation after Series C Funding is not a financial advice.