Immutable, the company behind Immutable X, the NFT-driven scaling network, has raised $200 million in its Series C funding round and has a market cap of $2.5 billion. Accompanied by the investment news, the price of NFT coin rose more than 50%. As Kriptokoin.com, we provide the details…
NFT coin project raised $200 million, now valued at $2.5 billion
Immutable’s capital round was headed by Temasek, a Singapore government investment business. New investors included Animoca Brands, Tencent, ParaFi Capital, Arrington Capital, Mirae Asset and Liberty Global. Alameda Research, AirTree Ventures, Declaration Partners and Fabric Ventures were among the previous investors.
Australia-based Immutable is committed to developing worldwide, expanding its staff, and now more It aims to turn to M&A options because it has more financing. The company currently has 165 employees and aims to hire 200 more over the next 12 months in various roles including sales, marketing, engineering and product development. Immutable also wants to expand StarkWare’s Layer-2 network, Immutable X, using StarkEx technology. OpenSea, TikTok, and GameStop are just a few of the platforms that use Immutable X.
Immutable X (IMX) price rose 60% after the news
Immutable X (IMX) witnessed massive whale purchases after investment. Its price rallied from the intraday low of $1.10 to $1.70 within hours. This means that at one point, IMX reached 60% of its last 24-hour gain.
Animoca Brands plans to use Immutable X
Comments on this by Yat Siu, co-founder and president of Animoca:
We are happy to explore Immutable X integrations across Animoca’s content library and bring new levels of scale, security and liquidity to the next generation of Blockchain games.
James Ferguson, CEO of Immutable, said:
Immutable is focused on developing a leading, assertive and trusted Web 3 ecosystem for a new era of creators seeking scalable results in the world’s fastest growing industry . Our investment partners understand the power and potential of the Immutable X platform and will play an integral role in this next phase of our growth.
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