Immutable, King River Capital, and Polygon Labs Launch $100M Web3 Gaming Fund
With Immutable's zkEVM mainnet powered by Polygon and King River Capital's track record of successful investments, the partnership brings together complementary expertise to support the growth of gaming startups.
Immutable, a leading web3 gaming developer platform, has joined forces with venture capital firm King River Capital and blockchain technology provider Polygon Labs to establish a groundbreaking $100 million fund aimed at supporting the burgeoning web3 gaming industry. The newly formed "Inevitable Games Fund" (IGF) aims to identify and capitalize on high-growth opportunities within the dynamic landscape of web3 gaming.
With a focus on professional and sophisticated investors, the IGF seeks to tap into the immense potential of web3 gaming, which has witnessed substantial investment growth in recent years. Since 2018, the sector has attracted approximately $19 billion in investments, with blockchain gaming-related rounds reaching $1.7 billion in 2023 alone. Immutable and Polygon Labs will collaborate to identify promising investment opportunities, while King River Capital will oversee the investment process and allocate capital across game studios and web3 infrastructure firms.
Web3 gaming, characterized by video games hosted on blockchains, offers players the unique opportunity to own their in-game assets in the form of non-fungible tokens (NFTs) or other digital property. This innovative approach to gaming has garnered significant interest and investment, with over 270 blockchain games currently in development on Immutable's platform.
The collaboration between Immutable, Polygon, and King River Capital is a shared commitment to advancing the web3 gaming ecosystem. With Immutable's zkEVM mainnet powered by Polygon and King River Capital's track record of successful investments, the partnership brings together complementary expertise to support the growth of gaming startups.
Zeb Rice, co-founder and managing partner at King River Capital expressed confidence in the transformative potential of web3 technology in gaming, likening it to the paradigm shift witnessed in mobile gaming over the past decade.
The collaboration between Immutable, Polygon, and King River Capital underscores their shared commitment to advancing the web3 gaming ecosystem. With Immutable's zkEVM mainnet powered by Polygon and King River Capital's track record of successful investments, the partnership brings together complementary expertise to support the growth of gaming startups.
Zeb Rice, co-founder and managing partner at King River Capital expressed confidence in the transformative potential of web3 technology in gaming, likening it to the paradigm shift witnessed in mobile gaming over the past decade.
As the global hub for all things crypto, blockchain, and web3, the IGF is well-positioned to support and nurture the growth of innovative projects and startups in the web3 gaming space. With a focus on identifying and capitalizing on emerging trends and opportunities, the fund aims to drive innovation, foster collaboration, and unlock new possibilities for players, developers, and investors alike.
