Immutable Records Revenue Increase, Optimistic for 2024 After $50 Million Loss!
Jakarta, Pintu News – After incurring a $50 million loss in 2023, Immutable, a blockchain game developer, reported a significant improvement in its financial performance in 2024.
With revenues already surpassing $110 million, Immutable is recovering strongly amidst a challenging crypto market.
Check out the full news below!
Immutable Financial Performance
In 2023, Immutable faced huge losses influenced by volatile crypto market conditions, strict global regulations, and high marketing costs. However, the company did not lose its way and continued to innovate to improve its performance.
With the launch of their layer-2 network, Immutable zkEVM, developed with Polygon Labs, Immutable significantly increased its revenue. The new network enables faster transactions and lower fees, attracting more game developers to join the Immutable platform.
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Investment in the Web3 Gaming Sector
In addition to infrastructure upgrades, Immutable invests heavily in the Web3 gaming sector. By launching a $100 million fund, Immutable aims to support game developers who want to utilize blockchain technology in their game creations.
This investment is expected to not only enhance the gaming ecosystem on Immutable but also strengthen the company’s position as a leader in the blockchain gaming industry.
This approach demonstrates Immutable’s commitment to advancing the gaming industry with blockchain technology, despite facing tough market challenges in the previous year.
Read also: Standard Chartered Slashes Ethereum (ETH) Price Prediction 60%, Will it Fall to $4,000?
On-Chain Game Activity Improvement
According to a report from DappRadar released on February 13, 2025, on-chain gaming activity experienced a significant surge, with over 7 million daily unique active wallets in January 2025. This marks an increase of 386% over the previous year, indicating a positive trend in blockchain gaming adoption.
Robbie Ferguson, co-founder of Immutable, stated that several gaming companies with over $1 billion valuations appear open to launching their own tokens. This shows the huge growth potential in the blockchain gaming industry, as more developers are interested in utilizing this technology.
Conclusion
With various strategies and innovations in place, Immutable demonstrated strong resilience and adaptability to challenges. Increased revenues and strategic investments in the Web3 gaming sector put Immutable in an even stronger position for 2024 and beyond.
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*Disclaimer
This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.
Reference
- Crypto News. Blockchain Game Developer Immutable Says 2024 Outlook Improved After Reporting $50M Loss. Accessed on March 19, 2025
- Featured Image: Blockchain Gamer
