Bitcoin continues its lackluster performance with altcoins in the red, yet significant news keeps coming. The latest good news is related to two popular cryptocurrencies. A recent announcement heralds a $100 million gaming fund. But what does this announcement entail?
MATIC and IMX
Web3 game developer platform Immutable and King River Capital today announced a $100 million gaming fund with the support of Polygon Labs. The “Inevitable Games Fund” (IGF) will invest in game studios and Web3 infrastructure companies, marking an important step in preparing for a Web3-focused future. Moreover, it could contribute to the long-term prices of IMX and MATIC Coin ecosystems as it provides support.
The announcement stated the following;
“Since 2018, the industry has attracted approximately $19 billion in investments. In 2023, funding rounds related to blockchain games reached $1.7 billion. A significant portion of this has been directed to over 270 blockchain games currently being developed on Immutable.”
The trio announced about a year ago that they would join forces, and today they have announced the fund.
