The blockchain gaming industry is witnessing a revolutionary development with the launch of the “Inevitable Games Fund” (IGF) by Immutable and polygon. This collaborative initiative marks a pivotal moment in promoting and developing native blockchain games, with an investment commitment of $100 million. The partnership between Immutable, a leading blockchain game publisher, polygon, and venture capital firm King River Capital, is set to transform the landscape of gaming applications built on decentralized technologies.
Background and Fund Details
King River Capital, a venture capital firm, will lead the investment process for IGF, while Immutable and polygon will provide advisory roles. The fund, known as “ecosystem-agnostic,” has already garnered considerable support from various stakeholders. Notable investors include Alpha Wave Ventures, Merit Circle, Michael Arrington, Steve Kokinos, and the founders of Immutable – James and Robbie Ferguson. The initial phase raised $30 million.
Native Blockchain Games: IGF’s Focus
IGF primarily invests in blockchain games that run natively on the ImmutableX or polygon blockchains. Seven such projects have already secured funding, including Pixelmon, Guild of Guardians, Metalcore, and My Pet Hooligan.
Pixelmon: A Turnaround Story
One such project, Pixelmon, has experienced a remarkable turnaround. Initially facing criticism due to its artwork in February 2022, the game’s recent leadership changes and artwork revisions have spurred renewed interest. Pixelmon secured an $8 million seed round, with support from prominent investors like Animoca Brands and Immutable founder Robbie Ferguson.
Web3 Technology’s Impact on the Gaming Industry
Zeb Rice, co-founder of King River Capital, underscores the transformative potential of Web3 technology in gaming. He envisions video games undergoing a significant technological shift driven by advancements in Web3 technology. By being strategically positioned to capitalize on this evolving landscape, the IGF aims to foster innovation and growth within the blockchain gaming sector.
Industry Insights and Future Prospects
Despite a decline in funding for blockchain games in 2023, the sector continues to attract significant interest and investment. Blockchain games held the highest number of daily unique active wallets (UAW) within the decentralized application (DApp) space last year. polygon emerged as a leading blockchain for gaming, with over 400,000 daily unique active wallets in a recent DappRadar report.
polygon ranked third for gaming in 2023, with one million unique active wallets over the year. Strategic partnerships, including collaborations with Immutable, have significantly contributed to polygon’s rise as a prominent player in the blockchain gaming ecosystem.
The alliance between Immutable and polygon, backed by the launch of the Inevitable Games Fund, signifies a shared dedication to advancing blockchain gaming. With a substantial investment pool and a focus on native blockchain games, the IGF is poised to drive innovation and propel the industry forward.
As the gaming sector evolves, stakeholders anticipate further growth and opportunities within the burgeoning realm of blockchain games.
