(Rejected) NFT Trading Platform Immutable has Raised $200M in Series C Financing at a Valuation of $2.5B

Immutable, an Ethereum-based NFT trading platform headquartered in Sydney, Australia, has raised $200 million in Series C funding led by Temasek. Leading blockchain gaming giant Animoca Brands and China's top tech company Tencent participated.

Other new investors include ParaFi Capital, Princeville Capital, Arrington Capital, Mirae Asset and Liberty Global.

At the same time, additional investment has been made by King River Capital, Prosus Ventures, AirTree Ventures, Declaration Partners, Fabric Ventures, Possible Ventures and Alameda Research.

Immutable's valuation will be raised to $2.5 billion following this financing.

Funds raised will be used to expand global development programs for non-fungible tokens (NFTs) on the Ethereum network, invest in Immutable X layer 2 scaling solutions, and scale Immutable Gaming Studio, which includes its flagship Gods Unchained and Guild of Guardians video games, and also plans to add 200 new employees to its existing 165-person team over the course of a year to meet the platform's growing needs.

 Immutable X uses StarkWare's StarkEx zero-knowledge proof technology to achieve scalability on Ethereum while providing security for users, while providing game developers with zero gas fees and a carbon neutral environment.

Xiao Yi, co-founder and chairman of Animoca, said about the collaboration

"We're thrilled to double down on our partnership with Immutable. We're excited to explore integrations with Immutable X across Animoca's portfolio of content - bringing next-level scale, security, and liquidity to the next generation of blockchain games,"

In addition, four new executives have been appointed this time: former Riot Games general manager Justin Hulog as chief studio officer; AirTree Ventures partner Gill Findlay as chief operating officer; former IfOnly CEO John Boris as chief growth officer; Katherine Rau serves as Chief People Officer.

As reported by blockchain. News on February 3,American video game, consumer electronics, and gaming merchandise retailer, GameStop Corp has unveiled a new partnership with blockchain-based Non-Fungible Token (NFT) platform, Immutable X to extend its foothold in the NFT ecosystem.