Web3
gaming
developer
platform
Immutable
and
venture
capital
company
King
River
Capital
have
teamed
up
to
form
a
$100
million
“Inevitable
Games
Fund”
(IGF)
with
assistance
from
Polygon
Labs.
The
IGF
will
target
high-growth
opportunities
for
professional
and
sophisticated
investors
in
Web3
gaming,
according
to
an
emailed
announcement
on
Tuesday.
Immutable
and
Polygon
Labs
will
identify
investment
opportunities,
while
King
River
will
manage
the
investment
process
and
deploy
the
capital
across
game
studios
and
Web3
infrastructure
firms.
The
fund
is
hoping
to
capture
the
opportunity
in
the
Web3
gaming
industry.
“Since
2018
the
sector
has
attracted
approximately
$19
billion
in
investments.
In
2023,
blockchain
gaming
related
rounds
reached
$1.7B.
A
significant
part
of
that
has
flowed
to
the
270+
blockchain
games
in
development
on
Immutable,”
the
press
release
said,
citing
industry
research.
Web3
gaming
refers
to
video
games
hosted
on
blockchains
and
may
enable
players
to
own
their
in-game
assets
in
the
form
of
non-fungible
tokens
(NFTs)
or
other
digital
property.
The
firms
have
unveiled
the
fund
almost
exactly
a
year
after
Immutable
and
Polygon
Labs
announced
they
were
forming
a
partnership
to
accelerate
the
development
of
Web3
gaming.