โ
โImmutable are making some huge plays in the space right now. ๐
The Australian startup behind an Ethereum layer-2 scaling solution designed for games and NFTs, announced today that it has raised a Series C funding round at a valuation of $2.5 billion. The firm joins an ever-expanding list of crypto โunicorns,โ or startups worth at least $1 billion.
The $200 million round was led by investment firm Temasek, with participation from Chinese gaming giant Tencent and leading metaverse investment firm Animoca Brands. Additional new investors include Arrington Capital, Mirae Asset, and Liberty Global, while Alameda Research and Possible Ventures are among the firms that increased their total investment. ๐น
Immutable is the firm behind Immutable X, a layer-2 platform that works on top of the Ethereum blockchain. Transactions on Immutable X are significantly cheaper and faster than those on Ethereumโs own mainnet, and require much less power than transactions on Ethereumโs own energy-intensive proof-of-work network.
