Immutable Raises $60M in Funding to Boost NFT Trading

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.

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.