Immutable Raises $60M in Funding to Boost NFT Trading

The Ethereum Layer-2 protocol says it has created the underlying infrastructure for any business to build a game, marketplace or NFT application.

AccessTimeIconSep 14, 2021 at 2:00 p.m. UTC
Updated May 11, 2023 at 4:14 p.m. UTC

Immutable has raised $60 million in a Series B funding round to bolster its non-fungible token (NFT) trading infrastructure.

  • The Ethereum Layer-2 protocol says it has created the underlying infrastructure for any business to build a game, marketplace or NFT application.
  • Immutable is the developer of NFT games Gods Unchained and Guild of Guardians, which it intends to scale using the new funds. The money will also go toward strengthening partnerships with gaming companies.
  • The funding round, which was led by BITKRAFT Venture and King Rival Capital, takes the firm’s total funding to $77.5 million.
  • Immutable says it provides a Layer-2 scaling product for NFTs on the Ethereum network capable of processing 9,000 transactions per second with zero gas fees.
  • Along with other companies, Immutable is attempting to address the problem of increasing traffic on the Ethereum network that is leading to transactions taking longer and being more expensive to execute.
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    Jamie Crawley

    Jamie Crawley is a CoinDesk news reporter based in London.