Immutable, Polygon Labs and King River Capital have united to back the Inevitable Games Fund (IGF), to encourage growth and innovation in blockchain based video games.
The strategic partnership combines King River Capital's investment prowess with Immutable's deep web3 gaming expertise, and Polygon Labs' international reach. The collaboration underscores its backers confidence in web3 gaming's potential and their commitment to nurturing innovation within this dynamic space.
Head of Investments at Immutable, Brendan Ma, took to LinkedIn to announce the flagship venture.
The IGF has a cap size of $100 million. The fund has already raised $30 million from its first close and secured anchor commitments from Alpha Wave Ventures, part of the global investment company Alpha Wave Global, and several other investors.
The IGF reflects increasing momentum in the development of Web3 games. With Sony and Microsoft recently filing patents pointing to blockchain technology gaming integrations and France's NFT gaming law, NFT based games are continuing to receive attention as a logical use case for blockchain technology, allowing gamers to own virtual game currencies and in-game assets. The IGF enables game developers to access the financial resources and tools to build the future of Web3 games.
By Michael Bacina, Steven Pettigrove and Luke Misthos