Sydney-based blockchain company, Immutable recently joined the list of the most valuable NFT startups in the world after the platform secured $200 million in its Series C investment round led by Temasek.
Amid recent funding, Immutable saw a sharp surge in its valuation as the number touched $2.5 billion. With a mission to drive its growth, Immutable announced the appointment of several key executives, including Gill Findlay as Chief Operating Officer and John Boris as Chief Growth Officer.
The latest announcement from Immutable came just a few weeks after the NFT firm established a collaboration with GameStop. According to the company, the capital will be used for the growth of the Immutable X platform.
"Immutable is locked in on developing a leading, ambitious and dependable web3 ecosystem for a new era of creators that desire scalable results in the world's fastest-growing industry," said James Ferguson, the CEO of Immutable. "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. We are also excited to welcome new executive team members who will help execute on our aggressive business and growth plans.”
Moreover, The $200 million Series C funding round saw participation from Animoca Brands and technology company Tencent.
NFTs
Global non-fungible token platforms witnessed an immense rise in demand for the emerging asset class in 2021. The trend continued during the first two months of this year despite some challenges across the crypto market.
"We are at a pivotal point in which the user experience creates a critical path to success for all emerging technologies, and Immutable's platform makes building NFT businesses simple, cost-effective and extremely easy to monetize," said John Henderson from AirTree. "We are excited to be on this journey to foster greater adoption of the powerful technology that is poised to change the way digital games are played.”
