A marketplace for non-fungible tokens (NFTs) on Ethereum's sidechain Immutable has raised $200 million in a funding round led by Singapore's Temasek with participation from other investors such as Mirae Asset, ParaFi Capital, Declaration Partners, Tencent Holdings and others, Reuters reports. The latest round brings the total valuation of the marketplace at $2.5 billion.
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Immutable is known as the developer of NFT games "Gods Unchained" and "Guild of Guardians." Immutable's Co-Founder and president, Robbie Ferguson, said that the latest funding round would help the company with expanding "aggressively through M&A opportunities."
Earlier in February, GameStop, one of the world's largest gaming retailers, entered into a partnership with Ethereum layer 2 solution developer Immutable X for its NFT marketplace. As part of the collaboration, GameStop established a $100 million fund in Immutable X's IMX tokens to support game developers and artists for content that will be published on the marketplace.
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