Polygon, Immutable and Australian VC Launch $100M Gaming Fund
The fund aims to tap into high-growth opportunities within the web3 gaming sector
March 20, 2024 08:58 AM
Reading time: 1 minute, 32 seconds
TL;DR Australian venture capital firm King River Capital, blockchain gaming company Immutable, and Polygon Labs have launched a $100 million Inevitable Games Fund. This ecosystem-agnostic fund aims to tap into high-growth opportunities within the web3 gaming sector, capitalizing on the industry's booming market.
Australian venture capital firm King River Capital has partnered with Immutable and Polygon Labs to launch the Inevitable Games Fund, a $100 million initiative designed to fuel the growth of the sector.
This unique fund is set to explore high-growth opportunities, leveraging the expertise of its founding firms to identify and invest in promising web3 gaming projects.
Recent data from Messari, a renowned crypto market intelligence firm, indicates a booming year for blockchain gaming, with Immutable and Polygon Labs dominating an estimated 70% of the market share.
This growth is part of a broader trend within the gaming industry, which is projected to see revenues increase from $227 billion in 2023 to $312 billion by 2027, according to a report by PwC. Such expansion underscores the sector's potential and the timely nature of the Inevitable Games Fund's launch.
Zeb Rice, co-founder and managing partner at King River Capital, emphasized the transformative potential of web3 technology in gaming. Drawing parallels to the mobile gaming revolution, Rice highlighted the shift towards decentralization and ownership features in gaming, which the Inevitable Games Fund aims to capitalize on.
The fund is not just an investment vehicle but a gateway for investors to engage directly with the forefront of gaming technology evolution.
The Inevitable Games Fund has already made strides by supporting seven early-stage investments in projects like Pixelmon, Metalcore, Guild of Guardians, and My Pet Hooligan.
These investments reflect the fund's commitment to nurturing the next generation of blockchain games, which promise to offer players not just entertainment but also financial incentives through play-and-earn models.
Open exclusively to professional and sophisticated investors, the Inevitable Games Fund represents a pioneering step towards the future of gaming. As the industry continues to evolve, this fund is poised to play a crucial role in shaping the landscape of blockchain gaming, making it an exciting time for investors and gamers alike.
