Tencent's largest shareholder, Naspers, Coinbase, and other companies, Immutable received another $15 million in financing

Blockchain game studio Immutable is the developer of a popular card collection game, Gods Unchained, which announced on Monday that it raised $15 million in Series A financing. To push blockchain-based games to the public.

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Image courtesy of Gods Unchained

According to a statement on Monday, the round of financing was led by Naspers Ventures, a subsidiary of Tencent's largest shareholder, Naspers Ventures and Galaxy Digital EOS VC Fund. Reinventure, a Sydney-based venture capital firm, and Apex Capital, a US private investment company, voted. Galaxy Digital EOS VC Fund is an EOS eco-investment fund managed by cryptocurrency fund Galaxy Digital and EOS development company Block.One.

The company said the funds will be used to further develop the "Chain of the Gods" game and build an open source blockchain platform for developers to create "unchangeable assets" such as cards, skin and weapons.

Taylor Perkins, vice president of marketing at Immutable, said the company had raised $1.8 million, so today's financing has brought it to $16.8 million. Perkins did not comment on the company's valuation in this round of financing. The last round of financing was supported by companies such as Coinbase Ventures and Nirvana Capital to develop this "chain of gods" game.

The game is currently led by Chris Clay, former director of the popular video game Magic The Gathering (MTG): Arena. Last month, Clay was hired by Immutable to lead the development of the game, including design improvements and optimization of the overall community experience.

The company hopes to use these new funds to make blockchain games mainstream.

“We are developing a range of applications that provide users with a 'noob-proof' experience that allows them to easily interact with this new digital asset class,” Perkins said.

Perkins said that in order to achieve this goal, Immutable also intends to "recruit about 30 employees in the next 3-6 months", the current total number of employees is about 50.

The Chain of the Gods was created on the basis of the Ethereum blockchain platform and has been in beta since July, claiming that more than 4 million cards have been sold, known as the “Genesis” approach. For sale, although only 13,000 players are playing the game, it has generated more than $4.5 million in revenue, even though only 13,000 players are playing the game.

Earlier this year, the company sold a card called "Hyperion" for $62,000, claiming to be the second most valuable game card in the world. One is MTG's "Black Lotus" card, which is priced at $87,000, and the "Alpha Black Lotus" card that follows, for $27,000.

It is worth noting that the Galaxy Digital EOS VC Fund invested in this Ethereum-based game startup.

Sam Englebardt, co-founder and chief investment officer of Galaxy Digital, said in a statement.

“The true ownership of digital objects reflects the next paradigm of interactive content, which combines the long-term motivations of publishers, developers, creators and players. We are investing heavily in those who are able to best in all types of video games. The studio that realizes this vision."

About Immutable

Founded in June 2018 by Robbie Ferguson and the James Ferguson brothers, Immutable is headquartered in Sydney, Australia, and is a blockchain game company focused on developing games that allow players to truly own game assets. In 2018, led by Nirvana Capital and Continue Capital The financing, the US exchange Coinbase and Sora Ventures followed.

Gods Unchained is a TCG game based on the Ethereum blockchain, which draws some of the best from games such as Hearthstone, MTG and Fearia. Experience and turn them into truly community-centric games. At the heart of Gods Unchained is an advanced blockchain-based game that gives users the freedom to trade and sell their cards and own the ownership of cards, just as they are in real life.

Naspers

South Africa's newspaper group Naspers is Tencent's largest shareholder and is now accelerating the active placement of the blockchain industry. Earlier this month, Naspers Ventures led a $2.33 million seed round of funding for DappRadar, the Dapp data and distribution platform. Naspers's layout of the blockchain and cryptocurrency industries dates back to 2017. In May 2017, Naspers led a $10 million Series A round of bitcoin remittance company Coins.ph.