Immutable Raises $60M in Series B Round to Scale NFT Trading
www.coindesk.com 14 September 2021 11:00, UTC
Reading time: ~2 m
Immutable has raised $60 million in Series B funding to scale 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, 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 solution for NFTs on Ethereum 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 leading to transactions taking longer and being more expensive to execute.
Read more: Solana-Based Game Raises $4.1M to Teach You How to DeFi
Back to the list