Australian NFT tech startup Immutable valued at $2.5 billion after raising $200M in funding led by Singapore’s Temasek

Investors continue to pour billions into the red non-fungible token (NFT) space as VC firms, celebrities, and blue-chip companies have doubled down on crypto investments, betting on the potential of cryptocurrencies and the rapidly growing market for NFTs. Today, the global NFT market is estimated to be worth tens of billions of dollars.

Last month, we wrote about Immutable after Sulake announced it has chosen Immutable X, an Ethereum’s leading Layer 2 scaling solution for non-fungible tokens (NFT), to boost the full NFT experience for its 500,000+ monthly active Habbo users worldwide.

Today, Australian NFT startup Immutable announced it has raised $200 million in fresh funding from investors led by Singapore’s Temasek in a round that values it at $2.5 billion. Other backers include Mirae Asset, ParaFi Capital, Declaration Partners, Tencent Holdings, and others. The announcement follows a 2021 raise that valued the company at $410 million at the time.

Founded in 2018 by James Ferguson and Robbie Ferguson, the Sydney-based Immutable provides a blockchain infrastructure that transforms digital asset ownership in the video-gaming industry. Immutable is also the developer of NFT games “Gods Unchained”, an online game where trading is done through NFT cards, and “Guild of Guardians”, a mobile game that allows players to earn tradeable rewards.

Immutable is also the creator of Immutable X, a platform it says allows transactions to take place at a much faster rate compared to Ethereum, the second-largest blockchain network. Immutable X is the leading Layer 2 scaling solution for NFTs to enable gas-free minting and trading, while not compromising the security of the most used blockchain globally for NFTs, Ethereum.

The solution, powered by StarkWare’s innovative technology, offers instant trade confirmation, massive scalability (up to 9,000 transactions per second), and a fantastic developer and user experience. Immutable X has announced integrations with established marketplaces such as OpenSea and Mintable and is powering some of the largest NFT plays across consumer apps (TikTok), DeFi (SuperFarm), and gaming (Highrise, ESL Gaming, Ember Sword, Planet Quest, Gods Unchained, Guild of Guardians, GreenPark Sports, Illuvium, MyCryptoHeroes+).

In February, Immutable partnered with GameStop to launch the videogame retailer’s NFT marketplace alongside a fund worth $100 million dedicated to supporting creators of NFT content from gaming studios, Web3 and metaverse gaming.

“We’re excited to raise this capital so we can help deploy it aggressively through M&A opportunities,” Immutable’s co-founder and president, Robbie Ferguson, said.  The global NFT market is already worth tens of billions of dollars.