TLDR:
- Immutable launches $100 million fund for blockchain games, called the “Inevitable Games Fund” (IGF)
- IGF invests in seven blockchain game titles, including Pixelmon, Guild of Guardians, Metalcore, and My Pet Hooligan
Immutable, a blockchain game publisher, has introduced a $100 million fund called the “Inevitable Games Fund” (IGF) to invest in blockchain games. The fund, supported by venture capital firm King River Capital and Polygon Labs, is described as an “ecosystem-agnostic fund.” The fund’s first close raised $30 million, with contributions from various investors, including VC firm Alpha Wave Ventures, Web3 gaming guild Merit Circle, and TechCrunch co-founder Michael Arrington.
The IGF has already made investments in seven blockchain game titles, all native to ImmutableX or Polygon. These titles include Pixelmon, which raised $70 million and drew controversy with its initial art reveal in February 2022, leading to a change in artwork and leadership team later that year. Despite the initial setback, Pixelmon has managed to secure an $8 million seed round and continues to strive for success in the blockchain gaming space.
According to Immutable founder Robbie Ferguson, the future of Web3 games lies in either a breakout hit game that gains mainstream popularity or a leading gaming company transitioning to blockchain with an onboarding experience comparable to traditional gaming. King River co-founder Zeb Rice believes that video games are poised for a significant technological shift towards Web3 technology, a shift that the IGF aims to benefit from.
In 2023, Web3 games and metaverse projects saw a decrease in funding compared to the previous year. However, blockchain games continued to have the most unique active wallets in the DApp space. Polygon emerged as the leading blockchain for gaming in 2023 and maintained its position with over 400,000 daily unique active wallets last month, thanks in part to strategic partnerships like the one with Immutable.
