Ethereum-based NFT scaling solution developer Immutable has announced the launch of the $500 million Ecosystem Fund.

we are starting @constant $500M Developer and Venture Fund to accelerate adoption of Web3 games and projects.

Learn more https://t.co/iUs5uYQsIq

Continue with the topic below. pic.twitter.com/u5rPPsApAt

— Immutable | $IMX ⓧ (@literal) 17 June 2022

The fund will focus on funding Web3 game developers and NFT-focused startups backed by Immutable. The structure plans to collaborate with other investors, including Animoca Brands, Arrington Capital and GameStop.

Immutable co-founder Robbie Ferguson told TechCrunch the main goal is to scale and drive adoption of next-gen Web3 games.

In September 2021, Immutable raised $12.5 million from an IMX token sale on the CoinList platform. It took less than an hour.

That same month, the startup closed a $60 million Series B funding round.

In March 2022, Immutable raised $200 from Temasek, Mirae Asset, ParaFi Capital, Declaration Partners, Tencent Holdings, and more. Investors valued the project at $2.5 billion.

In May, the startup launched a $40 million fund to support blockchain games, along with the Kongregate gaming portal.

Recall that in June, infrastructure blockchain platform Alchemy announced that it has created a $25 million program to support startups and developers in the Web3 space.

Andreessen Horowitz previously launched a $600 million fund focused on “game infrastructure and metaverse technologies.”

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