Immutable and Polygon Labs, in collaboration with King River Capital, have unveiled a groundbreaking $100 million fund dedicated to web3 gaming ventures.
Dubbed the Inevitable Games Fund (IGF), this initiative, announced on March 19, seeks to identify and capitalize on high-growth opportunities within the web gaming sector. The fund is designed for select progressive and sophisticated investors, with a cap set at $100 million.
King River Capital, assisted by Immutable and Polygon Labs, has combined forces to launch the $100M Inevitable Games Fund.
Set to pioneer investment in web3 gaming with early-stage investments already made in category winners.
The Inevitable Games Fund leverages deep insights… pic.twitter.com/18DV9PFp14
— Immutable (@Immutable) March 19, 2024
Heading the investment process is King River Capital, leveraging its expertise in venture and digital asset investing. Immutable and Polygon Labs will contribute their extensive experience and knowledge in the GameFi sector to identify promising investment opportunities.
Despite being associated with Immutable and Polygon ecosystems, IGF is described as “ecosystem-agnostic,” indicating its intention to invest in web3 games across various networks.
The collaboration between King River Capital, Immutable, and Polygon Labs aims to capitalize on the vast potential of web3 gaming, likening its growth trajectory to the explosive rise of mobile gaming over the past decade and a half.
GameFi projects have witnessed a remarkable recovery in recent months, with gaming token capitalization surging by 170% since late October, reaching $24.34 billion, according to CoinGecko. Immutable stands out as the largest GameFi protocol, boasting a market capitalization of $3.79 billion.
IGF has already garnered commitments from leading entities in the web3 space, including Merit Circle, Mike Arrington of Arrington Capital, Immutable co-founder Robbie Ferguson, Polygon Labs co-founder Sandeep Nailwal, and Alpha Wave Ventures, among others.
Preceding its formal establishment, IGF has made seven early-stage investments, supporting ventures like Pixelmon, Metacore, Guild of Guardians, and My Pet Hooligan.
The establishment of IGF underscores the growing interest and investment in the blockchain gaming sector, which has seen $19.2 billion worth of investments since 2018, including $1.5 billion in 2023 alone, according to Game 7’s State of Web3 Gaming 2023 report.
