Mobile Game Publisher Kongregate Launch $40M Fund for Web 3 Developer

Mobile game publisher Kongregate has partnered with Immutable X, Ethereum's leading Layer 2 (L2) scaling solution, to launch a $40 million blockchain developer fund.

This time, the fund will establish the IMX token pool as a grant awarded to the development of blockchain games on the web3 gaming platform Kongregate.com.

Immutable X provides Ethereum Layer 2 blockchain developers Immutable. Their games earn NFT game items without compromising the security of their assets. It offers instant trade confirmation and near-zero gas fees for minting and trading NFTs.

According to the company, Kongregate.com will be relaunched later this year.

Max Murphy, CTO of Kongregate, said the launch of Kongregate.com will create a different destination for developers and gamers.

Markus Lipp, CEO of Kongregate, stated that: "Blockchain technology allows us to give them a deeper experience in ways not possible with traditional games, from enabling players to help to shape what comes next in the storylines they love to be able to maintain their unique character across titles."

Founded in 2016, Kongregate is a leading mobile game publisher and web game portal. Kongregate's mobile games have been downloaded tens of millions of times and played hundreds of millions of times. Kongregate's portal has over 100,000 free games played by tens of millions of players every month.

The fund aims to attract the best and brightest developers to build new games on Kongregate's relaunched web3 platform.

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