Sydney NFT business Immutable raises another $82 million in Series B round

Sydney NFT company Immutable has raised $82 million in a Series B funding round, taking its total funding to $105 million.

© Stockhead Australia Immutable

The capital raising was co-led by distributed esports venture capital firm BITKRAFT Ventures and King River Capital, a Sydney and California-based venture capital firm for software businesses.

Also taking part in the funding round were Australian and New Zealand venture capital fund AirTree Ventures; Prosus Ventures; Galaxy Interactive; Fabric Ventures, Sam Bankman Fried’s FTX exchange; Reinventure; Apex Capital; and Gary Vaynerchuk’s VaynerFund.

The funding will be used to expand Immutable’s global engineering and sales teams and strengthen partnerships with gaming companies, as well as scale the growth of its two in-house NFT games, Gods Unchained and Guild of Guardians.

Co-founded by brothers Robbie and James Ferguson in 2018, the company currently has 95 employees on Linkedin.

Immutable in April launched Immutable X, a layer 2 Ethereum scaling solution for NFTs built in partnership with StarkWare.

It’s what’s known as a ZK-rollup, or “zero knowledge proof” rollup, in contrast to the other notable Ethereum scaling solution technology known as Optimistic rollups.

In simple terms, all these “layer 2” solutions bundle numerous transactions together into a single one that’s published on the Ethereum mainnet, avoiding the congestion and high fees there.

“NFT trading is a terrible mainstream user experience right now,” said Robbie Ferguson. “It’s expensive, illiquid, and the only existing scaling solutions compromise on the most important thing — the security and user-base of Ethereum.

“We want businesses to create their game, marketplace or NFT application within hours via APIs, with a mainstream user experience. No blockchain programming required.”

Immutable says the ImmutableX platform can handle 9,000 transactions per second, with instant finality and zero gas fees. The platform is also carbon-neutral, with Immutable covering the cost of carbon credits until at least 2025.

Immutable held a US$13 million token sale for Immutable X on Coinlist last week, but “due to regulatory uncertainty,” Australians were barred from participating, along with those in the US, Canada, Hong Kong and mainland China.

Jens Hilgers, founding partner at Bitkraft Ventures, said the firm has “been encouraged by the strong momentum around the Ethereum ecosystem and are  excited by the prospects of this next-generation scalability infrastructure broadening accessibility for a new wave of blockchain game developers”.

“The future of asset trading is digital  and in-game items and in-game digital assets will broadly move onto the blockchain. To support and accelerate this shift the industry is in need of a scalable, fast, efficient and trusted  blockchain layer.

“With Immutable we have found the best team and product in the market to  make this industry shift a reality.”

Internet Explorer Channel Network
News Related

OTHER NEWS

Gauahar Khan's winter fashion in warm Kashmiri suits will upgrade your trousseau

If you are looking for an instant way to upgrade your trousseau, search no more as Bollywood actor Gauahar Khan is here to sort your fashion woes with her winter ... Read more »

The most iconic supermodel moments from fashion's greatest era

© Provided by Lifestyle Asia There’s no denying the headiness of fashion in the 90s. But among the slip dresses, grunge vibe, and neon colours of the day, and designers ... Read more »

PSSSB Recruitment 2021: Apply for 2789 Clerk vacancies on sssb.punjab.gov.in, details here

© Provided by Zee News New Delhi: Punjab Subordinate Service Selection Board (PSSSB) has invited applications for Clerk, IT Clerk and Accounts Clerk posts. Interested candidates can apply on the ... Read more »

Vakratunda Sankashti Chaturthi 2021: Puja Vidhi, Shubh Muhurat and Significance

© Provided by News18 Vakratunda Sankashti Chaturthi 2021: Puja Vidhi, Shubh Muhurat and Significance The Chaturthi Tithi that falls after Purnima or full moon during Krishna Paksha of Kartika month ... Read more »

Open Thread: October 24, 2021

The Open Thread/Daily Merengue is a place where you can discuss anything and everything related to football. Feel free to discuss the topics presented here, or start your very own ... Read more »

‘Are You Proud of India or Not?' Union Minister's Dig at Siddaramaiah Over India's 100 Cr Vaccination Milestone

© Provided by News18 ‘Are You Proud of India or Not?’ Union Minister’s Dig at Siddaramaiah Over India’s 100 Cr Vaccination Milestone Taking a jibe at senior Congress leader and ... Read more »

'Con is always on my mind': Richie Berrington opens up on lost friend as Scotland prepare for Super 12s

Vice-captain Richie Berrington had someone very special on his mind as he looked skywards to see how far he had hit the ball over the boundary for six to create ... Read more »

Jack Ross speaks on Darren McGregor red card as Hibs boss makes appeal admission

The veteran defender was given his marching orders deep into second-half injury time in the Easter Road side’s 1-0 defeat by the Dons with referee Greg Aitken telling Ross after ... Read more »

Bernie Sanders Says Medicare Expansion Will Remain in Spending Bill: 'Not Coming Out'

Senator Bernie Sanders on Saturday expressed confidence that Medicare expansion of dental, vision and hearing coverage will remain in the Democrats’ paired-back spending bill amid ongoing negotiations between progressives and ... Read more »

GOP candidate fried for asking for Trump tweets about Alec Baldwin

Ohio Republican Senate candidate pleaded for Twitter to allow former President Donald Trump back on Twitter in wake of Alec Baldwin‘s tragic shooting incident, where a crew member was killed. ... Read more »

Japan's Princess Mako set to marry commoner without royal rituals

Japan‘s Princess Mako – The Imperial Household Agency of Japan via AP Japan's Princess Mako will finally marry next week after a lengthy engagement marked by intense scrutiny but there ... Read more »

How to Host an Aesthetic Event at Home, According to Professional Stylists

© Provided by Preview.ph ICYMI, there’s a new celebrity-approved “it” venue for the hottest events: home sweet home. Don’t be fooled though, this isn’t your usual indoor hangout. From Angel ... Read more »

Rare seabird prompts celebs to flock to Yorkshire Coast

If you’ve been to visit RSPB Bempton Cliffs, on the Yorkshire Coast, in the past few months, you may have got a glimpse of some famous faces! © Credits: © ... Read more »

Murder, missing money and cover-up claims: South Carolina family mystery grips America

Photograph: Jeffrey Collins/AP It’s a story as thick and unctuous as South Carolina’s low country mud. Those in the know aren’t talking, and those who don’t know are. But with ... Read more »

Govt likely to introduce two key financial sector bills in winter session

New Delhi: The government may introduce two key financial sector bills, including the proposed law for facilitating privatisation of public sector banks as announced by the finance minister in the ... Read more »

Mann Ki Baat: PM Modi hails India's 100-crore vaccination mark

Prime Minister Narendra Modi hailed the nation’s health workers and volunteers for achieving the 1-billion-vaccine milestone on the 82nd edition of his monthly radio programme ‘Mann Ki Baat’ today. “Namaskar…namaskar ... Read more »

PM Narendra Modi pays tributes to R K Laxman on 100th birth anniversary

Prime Minister Narendra Modi on Sunday paid tributes to legendary cartoonist R K Laxman on his 100th birth anniversary, and said that through his cartoons, he beautifully conveyed the socio-political ... Read more »

Two popular artists on the celebratory intervention launched at Alserkal Avenue

© Motivate Publishing Janine Gaelle artwork October’s – ‘The Renegade Issue’ – Download Now The public realm interventions launched by Alserkal Arts Foundation are curated by Janine Gaëlle Dieudji, and will ... Read more »

Vanessa Bryant learned of Kobe and Gianna's deaths on social media via notifications that read 'RIP Kobe,' new deposition says

© Marcio Jose Sanchez/AP Photo Vanessa Bryant speaks during a celebration of life for her husband, Kobe Bryant, and daughter Gianna in Los Angeles. Marcio Jose Sanchez/AP Photo Vanessa Bryant, ... Read more »

Michael O Snyder: We've started to think about the pandemic the same way we think about environmental issues

© Provided by Entertainment Times The recently concluded All Living Things Environmental Film Festival saw a lineup of films and docu-films that focused on the growing concerns about the environment ... Read more »

Pratik Gandhi wants to be known by his characters, not his name

© IANS Pratik Gandhi.(photo:instagram) New Delhi, Oct 24 (IANS) Actor Pratik Gandhi, who gained stardom overnight with his portrayal of Harshad Mehta in the web-series ‘Scam 1992’, says he has ... Read more »

'Govinda ji will get good work once he fires his current manager': Kashmera Shah takes a dig at Sunita Ahuja

© Provided by Zee News New Delhi: The family rift between actor Govinda and his actor comedian nephew Krushna Abhishek doesn’t seem to end. Krushna’s wife actress Kashmera Shah has ... Read more »

Belanjawan 2022: Pastikan dana MITRA telus, kerajaan diberitahu

© Provided by Free Malaysia Today Menteri Perpaduan Negara Halimah Saddique menyampaikan bakul makanan sumbangan MITRA kepada golongan memerlukan dalam satu majlis di Port Dickson bulan lepas. (Gambar Bernama) PETALING ... Read more »

SA women make their mark in the science world

© Provided by Independent Online (IOL) Cape Town – South African women continue to make their mark in science and we celebrate it with every chance we get. Tarryn Surajpal, ... Read more »

Bring it home: stay, try and buy holiday getaways

Settle, Norfolk A cluster of restored railway carriages and a handcrafted lakeside cabin, Settle is situated in 30 acres of private parkland on the edge of Thetford Forest. Hosts Jo ... Read more »

Christmas toys: Shops admit demand could outstrip supply – so keep your festive cool to help avoid shortages

Christmas is coming but, as much of the media and retail industry would have us believe, the shelves are far from “fat” with produce. But is there really going to ... Read more »

Online Banking Frauds: Here's how to protect yourself from phishing attacks

© Provided by Zee News New Delhi: For hundreds of millions of Indians, going online to buy things or just send money to family and friends has been a boon. ... Read more »

THESE states likely to receive thunderstorm, light rainfall today; predicts IMD

© Provided by DNA Parts of Uttar Pradesh and Haryana will likely receive light to moderate intensity rainfall today (October 24, 2021), said the India Meteorological Department (IMD) on Sunday. ... Read more »

Yogi Adityanath hits out at Opposition parties, asks people to maintain distance from 'Ram-drohis'

© Provided by Zee News Lucknow: Accusing opposition parties of being against Lord Ram, Uttar Pradesh Chief Minister Yogi Adityanath on Saturday said that such “Ram-drohis” not only harmed the ... Read more »

‘Men Are Stupid And Impulsive': Vicky Kaushal On 5 Common Myths About Men

© Provided by MensXP Vicky Kaushal is among the most promising stars in Bollywood now. It hasn’t been an overnight success story for the actor as he had to struggle ... Read more »

KBC 13: Amitabh Bachchan says ‘Save me' after a contestant starts discussing marital problems; Watch

© Provided by Pinkvilla Bollywood megastar Amitabh Bachchan who also hosts the game reality show Kaun Banega Crorepati 13 surely enjoys talking with contestants. He often encounters funny questions, but ... Read more »

2 more die after getting trapped in snowfall in J K's Anantnag; death toll reaches 5

Two people have been killed, and two others were rescued after the vehicle they were travelling in got trapped in snowfall last night in Jammu and Kashmir’s Simthan pass. The ... Read more »

Amid dating rumours, ‘Taarak Mehta Ka Ooltah Chashmah' fame Munmun Dutta's photo with Raj Anadkat goes VIRAL

© Provided by DNA People have been speculating for months that Munmun Dutta and Raj Anandkat, stars of ‘Taarak Mehta Ka Ooltah Chashmah’, are dating, but the two have denied ... Read more »

Watch: Newly-weds Make Roti Together in Unique Kashmiri Wedding Ritual

© Provided by News18 Watch: Newly-weds Make Roti Together in Unique Kashmiri Wedding Ritual Weddings are full of rituals. Some of these rituals place the bride and groom in fun ... Read more »

Increasing publisher monetisation by stepping into the OTT market

© Provided by The Financial Express OTT advertising is a new perspective that is reshaping the paid media landscape By Amitt Sharma The successful launch of new streaming apps has ... Read more »

#BLRecommends: Loving The Five Juanas? – check out The Handmaid's Tale, Big Little Lies, Churails and more web series where women get together to kick a**

© Provided by BollywoodLife.com Mexican web series The Five Juanas has emerged from nowhere to catch on like wildfire everywhere it has become a phenomenon and is on everyone’s lips ... Read more »

Amit Shah's rally moved back to Bhagwati Nagar ground in Jammu

© Provided by Hindustan Times Jammu and Kashmir: Union home minister Amit Shah will attend a rally to be organised at Bhagwati Nagar ground in Jammu on Sunday. (ANI Photo) Union ... Read more »

Colombia's most wanted drug trafficker arrested following decade on run

Colombia’s most wanted drug trafficker has been captured by security forces after evading arrest for more than a decade. © Provided by PA Media One of Colombia’s most wanted drug ... Read more »

Colombia's most wanted drug trafficker ‘Otoniel' nabbed from jungle hideout

© Colombian presidential press office via AP Colombian security forces have captured the country’s most wanted drug trafficker, a rural warlord who stayed on the run for more than a ... Read more »

Saturday Night Live: Oscar Isaac, Emily Ratajkowski, and Nicholas Braun make surprise appearances

© Twitter/nbcsnl Oscar Isaac, Emily Ratajkowski, and Nicholas Braun on ‘Saturday Night Live‘ – Twitter/nbcsnl Saturday Night Live welcomed three surprise guests on 23 October. Oscar Isaac, Emily Ratajkowski, and ... Read more »
On free-english-test.com you will find lots of free English exam practice materials to help you improve your English skills: grammar, listening, reading, writing, ielts, toeic