Get All Access for $5/mo

USD 100 million "Inevitable Games Fund" Set Up by Immutable, King River Capital, and Polygon Labs According to the official statement, Immutable and Polygon Labs will be tasked to identify prospective investment opportunities. King River, on the other hand, will manage the process and deploy capital to gaming studios and Web3 infrastructure firms

By Paromita Gupta

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Canva

To capture the opportunities in the Web3 gaming industry, Web3 gaming developer platform Immutable, venture capital company King River Capital, and Ethereum developer Polygon Labs have joined hands to set up USD 100 million "Inevitable Games Fund" (IGF).

According to the official statement, Immutable and Polygon Labs will be tasked to identify prospective investment opportunities. King River, on the other hand, will manage the process and deploy capital to gaming studios and Web3 infrastructure firms.

IGF will be privately offered and is only open for investment by certain types of professional and sophisticated investors. Notably, it has already secured a commitment from Alpha Wave Ventures (backed by Alpha Wave Global and the Abu Dhabi Royal Group's Chimera Capital) along with Merit Circle, Mike Arrington (Co-Founder of CrunchFund and Arrington Capital), and Steve Kokinos (Sonic Boom Ventures and former CEO of Algorand).

It has identified several investment opportunities and warehoused seven early-stage investments such as Pixelmon, Metalcore, Guild of Guardians, and My Pet Hooligan.
"Spending on video games exceeds the global revenue from movies, streaming TV and the music industry, combined, and it is ripe for a huge technology shift. The Fund provides investors with an opportunity to gain unique access to the best web3 gaming projects globally and is designed to benefit from this multi-hundred billion dollar shift in spending to this disruptive new technology," shared Zeb Rice, Co-Founder and Managing Partner, King River Capital.

"Our combined expertise, global relationships, and industry reach ideally position the Fund to identify and invest in the best web3 gaming and gaming infrastructure opportunities globally," said Robbie Ferguson, Co-Founder, Immutable.

Since 2018, the sector has seen investments worth USD 19 billion. Blockchain gaming investments reached USD 1.7 billion in 2023. Notably, a significant part of that has flowed to the 270+ blockchain games in development on Immutable.

PwC's 2023 report estimated that the USD 227 billion gaming revenue will touch USD 312 billion in 2027 at a CAGR of 7.9 per cent.

Paromita Gupta

Entrepreneur Staff

Features Writer with Entrepreneur India

Covering news and trends in AI and Metaverse segments. An avid book reader running her personal blog on the side. You may reach me at paromita@entrepreneurindia.com. 
Business News

'I've Got All the Time in the World': AI Grandma Thwarts Scammers By Answering Their Calls

The AI persona called Daisy keeps scammers on the line for 40 minutes at a time with stories of her family and passion for knitting.

Growing a Business

How to Prepare Your Small Business for Impactful Investor Partnerships That Go Beyond Funding

Here's how investorpreneurs transform startups with mentorship and strategic investments.

Business News

Alexis Ohanian Says This Is His Best Investment So Far: $10,000 Turned Into More Than $17 Million

Ohanian has backed 40 unicorns, but one investment stands out the most.

Starting a Business

Nearly 50% of America's Workforce Has a Secondary Source of Income or Side Hustle. Here Are 7 Steps You Should Take to Create Lasting Value for Yours.

Today's entrepreneurs have the opportunity to generate long-lasting supplementary income if they take these steps.

Business News

'Carefully Crafted Charade': Billionaire Media Mogul Rupert Murdoch, 93, Loses Legal Battle to Change Family Trust

A Nevada commissioner ruled that Murdoch and his chosen successor had acted in bad faith.