Immutable, the company behind Ethereum’s Immutable X layer-2 scaling solution, has announced the creation of a $500 million fund to encourage more developers to use the platform. In collaboration with various VC firms and ecosystem allies, the Immutable Ventures fund will invest in and provide grants to companies that build on Immutable X, utilizing a mix of IMX tokens and cash. The $500 million venture, comprising assets from Animoca Brands, BITKRAFT Ventures, GameStop, Arrington Capital, King River Capital, AirTree, and Double Peak, was announced today by the company. Co-founder and President Robbie Ferguson said, “Immutable Ventures will target NFT projects that are committed to our growing digital ecosystem with the understanding that we have just begun to scratch the surface of the massive potential for this category,” We're launching the @Immutable Developer & Venture Fund worth $500M to accelerate the adoption of Web3 games & projects. Learn more ➡️ https://t.co/iUs5uYQsIq Continue the thread below. 🧵 pic.twitter.com/u5rPPsApAt — Immutable | $IMX ⓧ (@Immutable) June 17, 2022 Immutable X is a Scaling Solution Immutable X is a scaling solution that allows for faster, cheaper, and more energy-efficient transactions than Ethereum’s mainnet can manage. The platform processes transactions on its chain, then bundle them and commits them to the Ethereum blockchain using StarkWare’s StarkEx rollup technology. This scaling solut...
