Great news on the fundraising front for Blockchain based games – Immutable, a company that builds video games with player-owned assets, today announced that they have raised a $15 million according to their Medium post.
The Series A round was led by Naspers Ventures, part of Naspers, a global internet group and one of the largest technology investors in the world, and Galaxy Digital EOS VC Fund, a $325 million ecosystem development fund run by blockchain-focused merchant bank Galaxy Digital. Apex Capital Partners also participated in the round. The Immutable team will use the funds to accelerate the development of their flagship game, Gods Unchained, a trading card game led by Chris Clay, the former director of Magic The Gathering: Arena. Gods Unchained made waves last year as the world’s highest grossing blockchain-powered video game. Funds will also be used to build out the Immutable Platform, an open-source blockchain toolkit that lets developers create “immutable assets,” or truly ownable in-game items like cards, skins, weapons, and more, for their third-party games.
“Gaming is a $140 billion per year market that has capitalized on leasing premium features to select individuals based on their purchasing power,” said Robbie Ferguson, co-founder of Gods Unchained. “In almost every game, players are buying items, cards, skins and upgrades which they don’t truly own. Blockchain actually gives players digital-asset ownership, with the same property rights you can find in the real world. With Gods Unchained, we’ve captured the allure of traditional print card collectibles like Magic, married them with appealing visuals of digital games like Hearthstone, and added true ownership through the Ethereum blockchain.”
What do they plan to do with the money?
They’re planning to pour it into development and marketing for Gods Unchained and the Immutable Platform. This speaks to the long term viability of blockchain based games and bodes well for their competitors. Will other games be coming forward with similar capitol raises?
What does this mean for Blockchain Games in general?
Here at Crypto Project Times, we’re bullish on the future of blockchain based video games. Blockchain technology has some real advantages over the status quo – from combating fraud to handling micropayments without an army of accountants that will service this sector well. As the ICO fundraising tactics have fallen by the wayside, crypto projects running a tight ship with strict adherence to SEC guidelines are in a great position. 2018 may have served to shake out the poorly managed companies and left some true gold for investors and players alike to participate in. Good times ahead? Let’s hope this is the first in a new wave in investment.
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