Immutable

Based in Australia, Immutable is a developer of blockchain-based video games and a provider of a Web3 game development platform. The company develops and publishes its games through Immutable Game Studio, and released its first game, Gods Unchained, in March 2021. The game is a NFT strategy card game, and had ~80,000 active players as of January 2022. It also claimed that over USD 25 million of Gods Unchained digital assets have been traded as of the same date. In February 2024, the company launched the mobile version of Gods Unchained, available on Google Play and Apple App Store. Immutable launched its second game, Guild of Guardians , in May 2024 to over 1 million pre-registered users. It is a mobile role-playing game set in a fantasy world on the brink of destruction, where players must form teams to battle against evil Dreads.

Its Web3 game development platform, Immutable X, provides a SDK that offers APIs and smart contracts to allow developers to leverage ready-made Web3 infrastructure to quickly build and deploy blockchain-based games. These include an onboarding solution (non-custodial wallet) called Passport , transaction infrastructure, and NFT minting tools. The platform also consists of a developer hub which allows developers to launch and manage their projects in one-place and obtain related performance analytics.

In addition, Immutable X also acts as a layer-2 scaling solution on the Ethereum blockchain. It uses StarkWare's StarkEx roll-up technology and can process 9,000 transactions per second, with zero gas fees, while claiming to be carbon-neutral. Its native token IMX can be used to pay for transactions as well as stake and govern the network. Notable companies building on Immutable X include GameStop, TikTok, OpenSea, Ember Sword, Illuvium, GreenPark Sports, and Vee Friends (Gary Vee).

Key customers and partnerships

Immutable partnered with Mineloader to develop Guild of Guardians, and it has also collaborated with several game developers, including Turner Sports and Kongregate, to build Web3 games on the Immutable X platform.

The company collaborated with Polygon to launch its zero-knowledge Ethereum Virtual Machine (zkEVM) scaling solution to bypass the scaling limitations of the Ethereum blockchain and promote Web3 gaming. The network developers to completely abstract transaction fees that allow a frictionless player onboarding and improved user experience. Furthermore, Immutable partnered with Amazon Web Services (AWS) to develop infrastructure solutions to assist companies in developing and scaling blockchain-based games, and Amazon Prime Gaming to list in-game content for Gods Unchained in the latter’s platform. This partnership also aimed to introduce the game to a broader audience circle through Amazon's platform, which boasts over 200 million Prime Gaming members. It also collaborated with Axelar to integrate games built on Immutable's zkEVM into the Axelar network to enhance user onboarding across blockchain. 

Funding and financials

In March 2022, Immutable raised USD 200 million in a Series C funding round led by the Singapore state investment fund Temasek at a valuation of USD 2.5 billion. The company planned to use the funds for its gaming studio improvements, geographic expansion, and potential mergers and acquisitions. Immutable also planned to hire 200 new employees.