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Layer-2 Ethereum scaling solution Immutable is launching the $500 million Immutable Fund to incentivize game and NFT developers to adopt and build on the platform and receive the support & backing needed to build a world-class game.
Immutable X is the first NFT-focused Layer 2 scaling solution on Ethereum using StarkWare’s zero-knowledge-based rollup solution to batch transactions on the network and commit them to the Ethereum mainnet increasing throughput with lower transaction costs.
Immutable’s mission is to empower developers to build the best games with scalability, security, and speed. They are a leader in the L2 space working with the biggest crypto games and NFT projects including Illuvium, Ember Sword, Gods Unchained, Guild of Guardians, and OpenSea.
The fund is a mix of cash and Immutable X’s native token IMX. Immutable is also working with companies like Animoca Brands, GameStop and VC firms such as Airtree, Arrington Capital, BITKRAFT, Double Peak and King River Capital, which are focused on web3 gaming and NFTs to give developers access to additional investment opportunities.
Besides providing funding, the Immutable Fund connects projects and developers with blockchain gaming experts, including advisors in tokenomics, game design, community building, and marketing.
We’re taking the lessons learned from building two of the blockchain’s biggest games, Gods Unchained and Guild of Guardians, and hiring the smartest people from Web2 studios like Riot GamesJames Ferguson, Immutable CEO
Projects that win a grant will receive monetary support to meet funding requirements, milestone-based IMX rewards, including advisors with deep blockchain expertise in tokenomics, game design, community building, and marketing support.
The investments will mainly be executed via tokens with the average investment size ranging from $100,000 to $500,000, but token allocation may move into the millions for the right project. Select projects may receive cash investments as well.
The Immutable Developer & Venture Fund will distribute funds in a 4-year vesting period. The vesting schedule for these investments are milestone-based with 24-month unlocks post milestone achievement.
All projects planning to build on the Immutable X protocol are encouraged to submit an application.
To help developers leverage existing Layer 1 NFT collections, Immutable also recently announced the Arch 1.0 NFT bridging protocol between L1 Ethereum and L2 StarkNet.
NFT projects that require assets to be moved across layers are required to build their own bridging solutions with varying levels of complexity and security. Arch is Immutable’s first step towards a cross-rollup NFT future.
The bridge is initially designed for the projects wishing to bridge their L1 Ethereum NFT collections to L2 StarkNet, but future enhancements will include bridging L2 native assets to L1 and supporting more networks.
The design of the Immutable X smart contracts is to provide a simple building block for developers to integrate their new or existing projects. It’s primarily developed for use with ERC721 tokens but is extensible to other NFT standards like ERC1155.