Polygon Labs teams with Immutable, King River Capital to announce Inevitable Games Fund

The Web3 gaming sector is on the verge of becoming mainstream, with notable game publishers now shifting their focus to emerging newer technologies. To attract web3 game developers to give their best, three countries have formed an alliance. Venture firms Immutable and King River Capital have tied up with blockchain firm, Polygon Labs to launch a $100 million (approx. Rs. 83 crore) fund called – Inevitable Games Fund (IGF).

The future of the Web3 gaming market is expected to be bright, according to a survey conducted on the topic. The blockchain gaming market is expected to grow to $614 billion (roughly Rs. 51,07,086 crore) in the next seven years, says a recent study by Fortune Business Insights.

With the IGF, all three countries demonstrate their commitment to try to develop the potentially promising Web3 gaming sector. A bunch of other medium and large investors are also joining the initiative. These include Alpha Wave Ventures, Abu Dhabi Royal Group’s Chimera Capital, as well as family offices such as Mike Arrington, co-founder of CrunchFund, and Arrington Capital; Steve Kokinos

In fact, a bunch of Web3 game companies have already raised investment from the IGF. These include Pixelmon, Metalcore, Guild of Guardians and My Pet Hooligan. King River Capital is charged with the responsibility of overseeing all investment-related processes. These will include deploying IGF capital to game studios, web3 infrastructure developers and immersive gaming projects.

“Spending on video games exceeds global revenue from the movies, streaming TV and music industries combined, and it’s ripe for a huge technological shift,” Zeb Rice, co-founder and managing partner at King River Capital, said in a statement.

As part of the deal, Polygon Labs and Immutable, meanwhile, will provide key resources and expertise in web3 games. Since 2023 Alchemy’s Dapp Store lists 62 Web3 games supported on the Polygon blockchain. Messari, a crypto market intelligence firm, claims that the combined market share of Immutable and Polygon is 70 percent of the total blockchain game development.

“Our combined experience, global relationships and industry reach ideally position the Fund to identify and invest in the best web3 gaming opportunities and gaming infrastructure globally,” said Robbie Ferguson, co-founder of Immutable.