Kongregate Creates $40m Web3 Dev Fund With ImmutableX
Web gaming platform Kongregate has been gradually moving towards a more Web3 centred approach, planning to release 8-bit inspired metaverse The Bitverse as well as blockchain game Blood Vessels. Delving further into the Web3 space, Kongregate has announced a new $40 million blockchain gaming fund in collaboration with crypto solution provider ImmutableX.
The fund looks to inspire developers to build blockchain games for Kongregate.com, consisting of an IMX token pool that will be awarded as grants to creators. While Kongregate.com has always been about web-based gaming, the site will relaunch later this year focused on the Web3 space, therefore it’s looking to invest in a library of content to support that vision.
“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 Max Murphy, Kongregate’s Chief Technology Officer in a statement. “As gamers ourselves who have long been dedicated to what made the original site so fun and special for millions of community members worldwide, we’re excited to reopen doors with new, sustainable technology that enables players to uniquely experience and be a part of the games they dedicate their time to.”
Kongregate is continuing its partnership with ImmutableX which began with development of upcoming title Blood Vessels. Currently being built by Kongregate’s new blockchain-focused development team, Electric Visions, Blood Vessels is set during the 19th Century at the Chicago World’s Fair, with players NFT vampire characters.
“As an early innovator in web-based gaming, we’ve been proud of our partnership with Kongregate to help power the next generation of blockchain games,” said Robbie Ferguson, Co-Founder and President, ImmutableX. “With today’s launch of our blockchain developer fund, we’re excited to deepen our relationship with Kongregate as we work together to attract the best and brightest developers to build new titles on Kongregate’s relaunched Web3 platform.”
Kongregate will be initially sharing how to access the fund to current developers on its platform, new teams interested in being part of it will have to reach out to Kongregate directly. As further details regarding the platforms’ Web3 plans unfold, gmw3 will keep you updated.