According to CoinDesk, Web3 gaming developer platform Immutable and venture capital firm King River Capital have partnered to create a $100 million 'Inevitable Games Fund' (IGF) with support from Polygon Labs. The IGF aims to target high-growth opportunities for professional and sophisticated investors in the Web3 gaming sector. Immutable and Polygon Labs will identify investment opportunities, while King River will manage the investment process and allocate the capital across game studios and Web3 infrastructure companies.
The fund seeks to capitalize on the growing Web3 gaming industry, which has attracted approximately $19 billion in investments since 2018. In 2023, blockchain gaming-related rounds reached $1.7 billion, with a significant portion going to the 270+ blockchain games in development on Immutable, according to industry research. Web3 gaming refers to video games hosted on blockchains, allowing players to own their in-game assets in the form of non-fungible tokens (NFTs) or other digital property. The launch of the fund comes nearly a year after Immutable and Polygon Labs announced their partnership to accelerate the development of Web3 gaming.