Immutable, Polygon Labs, and King River Capital have come together to introduce a new $100 million web3 gaming fund, the Inevitable Games Fund (IGF), aiming to fuel growth in the burgeoning web gaming sector. This “ecosystem-agnostic” fund is designed to seek out promising investment opportunities within web3 gaming, a field that’s rapidly gaining traction among developers and investors alike.
Bridging Expertise for Web3 Gaming Innovation
King River Capital will spearhead the fund’s investment strategy, drawing on the combined GameFi sector knowledge and digital assets expertise of Immutable and Polygon Labs. Despite the fund’s affiliation with Immutable and Polygon, its “ecosystem-agnostic” approach indicates a willingness to invest in web3 games across various networks, not limited to those within the founding companies’ ecosystems.
This collaborative effort is set to capitalize on the multi-hundred billion dollar global video game industry by leveraging King River Capital’s experience in venture and digital asset investing, alongside Immutable and Polygon Labs’ insights into web3 gaming.
Recovery and Expansion in the GameFi Sector
Following a significant uptick in the GameFi sector, with the capitalization of gaming tokens increasing 170% since late October to $24.34 billion, IGF’s launch is timely. Immutable stands as the largest GameFi protocol, boasting a market cap of $3.57 billion and recently launching its zero-knowledge rollup, Immutable zkEVM, to further its development in the space.
Zeb Rice, King River Capital’s co-founder and managing partner, emphasized the transformative potential of web3 games, likening it to the mobile gaming explosion over the past decade. IGF aims to harness this shift towards web3 technology, anticipating a significant redirection of consumer spending towards this innovative gaming paradigm.
Strong Industry Backing and Early Investments
IGF has attracted support from notable entities within the web3 sphere, including Merit Circle DAO, Arrington Capital’s Mike Arrington, and co-founders from Immutable and Polygon Labs. Furthermore, Alpha Wave Ventures, supported by the Abu Dhabi Royal Group’s Chimera Capital, has committed to backing IGF, underscoring the fund’s strong position in the web3 gaming investment landscape.
Before its official launch, IGF made strategic early-stage investments in several promising projects like Pixelmon and Guild of Guardians, showcasing its proactive approach to fostering growth and innovation in web3 gaming.
As the blockchain gaming sector continues to attract significant investments, IGF positions itself at the forefront of this digital revolution, aiming to shape the future of gaming through strategic investments and partnerships.
