NFT Platform Immutable Raises $200M at $2.5B Valuation

Singapore state investment giant Temasek led the round of funding, which will be used for global expansion.

AccessTimeIconMar 7, 2022 at 2:13 p.m. UTC
Updated May 11, 2023 at 7:16 p.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

Non-fungible token (NFT)-scaling platform Immutable has raised $200 million in a Series C funding round that was led by Singapore state investment fund Temasek at a $2.5 billion valuation, according to a press release provided to CoinDesk. The funds will be used toward global expansion, including boosting Immutable Gaming Studio and merger-and-acquisitions activity.

  • Other participants in the round included Mirae Asset, ParaFi Capital, Declaration Partners and Tencent Holdings, among others.
  • Immutable last raised money at a $410 million valuation in September, the company told Reuters, which was the first to report on the latest funding round. Last fall, Immutable raised $60 million in a Series B funding round.
  • Sydney-based Immutable develops the popular NFT games “Gods Unchained” and “Guild of Guardians.” The company also created Immutable X, a layer 2 NFT infrastructure platform for businesses to build games, marketplaces and applications.
  • Immutable plans to add 200 employees in the next 12 months, which would more than double its current 165-person team.
  • NFT-related platforms have captured plenty of investment dollars and increasing valuations recently. In early January, NFT marketplace OpenSea raised $300 million at a $13.3 billion valuation. And soon after that, Autograph, the platform co-founded by the recently retired National Football League star Tom Brady, raised $170 million in a Series B round that was co-led by Andreessen Horowitz (a16z) and Kleiner Perkins.
  • Australia to Release Draft Legislation for Crypto Exchanges in 2024; Is Binance Too Big to Fail?
    26:19
    Australia to Release Draft Legislation for Crypto Exchanges in 2024; Is Binance Too Big to Fail?
  • Australia's CBDC Pilot Shows 'Path Forward' for a Tokenized Economy: Canvas CEO
    08:55
    Australia's CBDC Pilot Shows 'Path Forward' for a Tokenized Economy: Canvas CEO
  • Australia Won't Introduce a CBDC for Some Years, Central Bank Says
    02:31
    Australia Won't Introduce a CBDC for Some Years, Central Bank Says
  • Binance to Shut Down 'Connect' Service; State of Crypto in Singapore and Australia
    26:09
    Binance to Shut Down 'Connect' Service; State of Crypto in Singapore and Australia
  • 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.

    Brandy Betz

    Brandy covered crypto-related venture capital deals for CoinDesk.


    Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.