So if ya thought NFTs were a phase...you might be wrong.
Background: Immutable was founded back in 2018 and officially launched in 2021. It's behind games like Gods Unchained and Guilds of Guardians.
What happened: Within these games, players can earn and own uniquely identifiable digital items (i.e. NFTs). Earlier this year, Immutable partnered with Gamestop to launch a NFT marketplace where players can buy, sell and trade these NFTs.
What else: Now, Immutable has completed a $280 million funding round, which values the company at a whopping $3.5 billion. So, even though the price of many cryptocurrencies has decreased, investors are still betting on crypto's potential.
💡When an investor invests in a company based on its future potential, it's called growth investing. It's an investing strategy that focuses on increasing an investor's return in the long-term.
💡 In the past few years, venture capital funds, celebrities and even blue-chip companies have doubled down on their crypto investments - despite crypto being on a bit of a 🎢 ride.
💡Investors are betting on the potential of the asset - and the rapidly growing market - as opposed to the actual price of the asset. And even thought the prospect of juicy, juicy returns sounds nice... this can be risky business.
Sign up for Flux and join 100,000 members of the Flux family
