- Immutable, Polygon Labs and King River launch $100 million Inevitable Games Fund to fuel Web3 games.
- With $30 million already secured, the fund seeks to reach its total target, backed by industry-leading investors.
The gaming industry is poised to explore the enormous possibilities offered by Web3 technology. Immutable, Polygon Labs and the King River team have launched the Inevitable Games Fund, a colossal $100 million initiative designed to support Web3 games.
The launch of the Inevitable Games Fund begins with an initial investment of $30 million, creating a firm foundation to reach its $100 million goal. With a lead investment from Alpha Wave Ventures – a collaboration supported by Alpha Wave Global and Chimera Capital of Abu Dhabi’s Royal Abu Dhabi Group – the fund has already won the backing of leading industry figures .
“The IGF exists to fund the next wave of projects that will follow this one and advance the industry not only in the short term, but also in the long term.”
Backers include Merit Circle, Mike Arrington, Sandeep Nailwal of Polygon Labs and Immutable co-founders James and Robbie Ferguson.
Led by King River, a venture capital firm known for its ability to identify good investments, it plans to invest in a wide variety of game studios and Web3 infrastructure.
“Just as mobile gaming went from virtually zero in 2008 to 79% of gamers playing mobile games today, we believe a similar shift has just begun to web3 technology…[the fund is] designed to benefit from this multi-hundred billion dollar spending shift to this disruptive new technology.”
With Immutable and Polygon Labs‘expertise in identifying opportunities and deep understanding of Web3 gaming, the fund is uniquely positioned to foster new video game technologies in the sector.
Web3 gaming, with its integration of blockchain technology, enables real ownership of in-game assets through non-fungible tokens (NFT), these Web3 games envision a future where players have an active and tangible stake in their virtual worlds, as we have detailed in ETHNews.
With the gaming industry receiving approximately $19 billion in investments since 2018, and with investments in blockchain-based games reaching $1.7 billion by 2023, the launch of the Inevitable Games Fund comes at a key time. Brendan Ma, chief investment officer at Immutable, sees 2023 as a watershed year for Web3 gaming.
