Game developer Kongregate and Ethereum scaling startup Immutable announced a $40 million fund to develop blockchain-based games.
Launched in 2006, Kongregate’s website Kongregate.com became a home for free-to-play independent web games. With this new fund, comprised of the IMX token pool, Kongregate.com will begin incorporating blockchain-based games later in 2022 and ultimately rebranding to a web3-oriented gaming site.
Kongregate.com’s blockchain-based rebrand also includes tools for blockchain-based game developers, such as through tokenomic consultations.
“With the relaunch of Kongregate.com for web3, we’re once again creating a destination unlike any other for developers and gamers to come together to discover, chat about and play games,” said Kongregate’s Chief Technology Officer Max Murphy in a statement.
Kongregate partnered with Immutable in February of this year to implement non-fungible tokens (NFTs) into web games.
Kongregate platforms have more than 128,000 free games with over a billion gameplays, according to its website. Immutable is a startup founded in 2018 that had a $2.5 billion valuation as of March 7, 2022.