As the popularity of smart contracts and blockchains grow, more people are looking for companies that have interesting projects. Recently, Immutable Plans announced an upcoming airdrop to give $500 million in funds for web application developers who want to create games or other apps powered by blockchain technology. This is expected to be one of the largest-ever investments made in gaming’s future with over 1 billion dollars already available from investors worldwide.
Almost all development projects depend on funding. The success of the Web 3.0 era may depend on NFT, blockchain, and the use of these technologies to strengthen the gaming industry.
Web 3.0 concepts, inventions, and ideas have grown significantly, yet financing has often lagged behind. As a result, many projects are forced to depend on tactics like Pre-Sales, NFT sales, and other membership perks to increase their funding.
An Australian firm called Immutable is now attempting to enable Web 3.0 developers everywhere. A $500 million venture fund focused on Web 3 Games and NFT Projects has been established by Immutable.
There is no doubting that the Web 3.0 age includes a significant amount of gaming. Similar to how AR and VR will be important, they are also gamified in certain ways. The Metaverse will be sustained in large part by incentives like Play-To-Earn, Run-To-Earn, etc.
The market for video game items alone might reach $100 billion in the blockchain era, according to the experts. That excludes things like crypto tokens and other things that aren’t in the game.
How will this money affect game creators, then?
Table of Contents
An Overview of the Funds
Immutable has been diligently working to provide us Immutable X, a layer-2 protocol on Ethereum. Grants and investments in tokens should assist IMX (native tokens) in reaching their potential.
Numerous partnerships will take place. These will be with household names in the industry or individuals that see Immutable X’s potential. The list, for instance, contains:
- Animoca
- Capital Arrington
- Airtee
- BITKRAFT
- GameStop
- Capital King River
According to Immutable, ‘the $500m fund is set up to exponentially accelerate the growth and success of web3 projects & games built on Ethereum’s leading Layer 2 protocol’.
Is Impermanent A Good Investment?
Many prestigious businesses are striving to implement Immutable X, including GameStop (GME), TikTok, Ember Sword, and Open Sea. On Immutable X, these businesses are already hard at work developing sustainable solutions.
Immutable has also made investments in a number of new ventures in the meantime. Additionally, it will benefit a lot of Web 3 businesses who are just getting off the ground. These consist of:
- Starkware
- Stardust
- PlanetQuest
- Topology
Regarding reputation and track record, the business has a wealth of investment knowledge. For its Series C fundraising round, Immutable received around $200 million. It ultimately had a worth of $2.5 billion.
Immutable intends to assist more game developers to be successful in providing gamers new and engaging games by building on the success of NFT titles like Guild of Guardians and Illuvium.
Guild of Guardians, source
It first implies that many Web 2.0 developers may consider transferring to Web 3.0 and expanding upon it. Any promising initiative will get the funding it needs to continue operating in a mature economy.
Immutable is also making sure that these monies go to the initiatives with the best chances of success. While it may seem like these money are available to everybody, there will be a meticulous review.
Web 3.0 gaming may see a notable expansion as a consequence. The potential of the Web 3.0 industry is being recognized by large corporations and AAA-rated game creators. Every business is attempting to join the Web 3.0 revolution by embracing the Metaverse, even car manufacturers like MG.
Consequently, the game schedule for the next two years may be excellent.
The Market’s Needs
As was previously said, the majority of Web 3.0 game creators had to depend on their own personal networks or NFTs to earn money. With the collapse of Bitcoin and Ethereum, the market’s current state hasn’t been very promising.
The development of several games has slowed down. Many NFT initiatives that were promising have had major under-delivery.
The financing for Immutable is essential right now. All of the projects, aspirations, and hopes must be maintained. There are a lot of worthwhile initiatives out there, and this $500 million fund will enable the creators of the Metaverse Game support themselves.
the conclusion
The development of the blockchain and NFT has greatly benefited from immutable. The biggest fund project ever seen in the Metaverse will be this one. Immutable X’s potential as a gaming blockchain might be advanced by this. It could even outperform alternatives like Solana and Polygon. We anticipate positive growth for Web 3.0 games if this trend continues.
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