Immutable X Closed Series C at $2.5 Billion Valuation

Immutable X, Ethereum's leading NFT scaling protocol, announced closing Series C round, raising $200 M. Thus, the company's valuation hit $2.5 bln.

1/ Major news: we’re thrilled to announce @Immutable has raised $200M in Series C funding @ $2.5B val.🎉

We’re supercharging our mission to make NFTs mainstream through high-quality blockchain games (and more).https://t.co/mZkrK2PnEj pic.twitter.com/69zbECxlIw

— Immutable | $IMX (@Immutable) March 7, 2022

The funding was led by a Singaporean investment firm Temasek. Mirae Asset, ParaFi Capital, Tencent Holdings, and others also took part in the investment.

Immutable X stands behind the development of the NFT game "Gods Unchained", which allows players to trade NFTs.

Earlier, in February, Immutable revealed a collaboration with a leading retail gaming company, GameStop to release a marketplace for NFTs. As a part of the project, they announced a $100 M fund for NFT content and technology builders.

The ultimate vision of Immutable X is to make digital ownership available worldwide via NFTs. The company will use the raised fund to expand the staff, meet the increasing demand of partners, and to create more content.