Immutable's outlook for blockchain games in 2023 | Robbie Ferguson
Of the many blockchain gaming companies, Immutable has become one of the leaders, or at least the survivors, in the emerging market. And it has an important role among blockchain platforms and so it can see more into the future.
ImmutableX generated $87 million in non-fungible token (NFT) trading volume, 250% more than last year. And Immutable's Gods Unchained game ranked among the top 25 most traded collections on all blockchains.
The Sydney, Australia-based company has two parts. Immutable makes its own blockchain games like Gods Unchained and Guild of the Guardians. And ImmutableX is a layer 2 scaling solution for Ethereum applications on the blockchain. It has become a platform for games with non-fungible tokens (NFTs) as well as a marketplace. Meanwhile, ImmutableX users benefit from the security of the Ethereum blockchain.
Robbie Ferguson, CEO of Immutable, launched the company in 2018 with James Ferguson and Alex Connolly. It was originally created to reduce the transaction costs associated with trading NFTs for Gods Unchained, providing near instant confirmation and near zero gas fees for trading and minting NFTs.
I spoke with Ferguson about the milestones Immutable has reached and what he expects to happen in 2023. The company had five games in early 2022 on its platform, and now there are over 100. It has 15 marketplaces and over 1.5 million active wallets on ImmutableX today. And the company has more than 300 employees. It certainly sounds like Ferguson wants to be one of the crypto winter survivors and bring NFTS into the mainstream game.
Here is an edited transcript of our interview.
GamesBeat: I wanted to check out some of the milestones you've reached this year and what you're looking forward to next year in general.
Robbie Ferguson: It's been an outstanding year for Immutable. At the start of the year, we had five games on the platform. We now have over 100. We have grown from three marketplaces to 15. Our global backlog has more than doubled due to the volume of these marketplaces and games, as more than half of the trading of origin on the Immutable protocol take place in a market other than where it was created. If you list it on a marketplace or any game, half the time it gets bought elsewhere, which is only possible with our global backlog.
Things I'm Really Excited About Just Came Out, Delphi Digital Released Their Gaming Report. Immutable was the largest ecosystem in terms of funding allocated to Web3 games, out of any other Layer 1 or Layer 2 in the world except Ethereum Layer 1. More than Polygon, Solana, Avalanche. I think we are more than 10 times Solana. The reason we were excited about this is that this is very high signal information. It's very easy to say that we have X number of games, which may be indie games that have very little chance of making a dent and going mainstream. We focused on games with enough funding and firepower to attract 10 or 100 million players. We also have over 1.5 million active wallets on Immutable today.
As far as we know, in terms of market share, we have moved from fifth to first in terms of winning Web3 games market share. It's been a big year for us, and a big year for Web3 games in general, especially in the context of people wondering, "Where will the first consumer utility use cases for Web3 come from? " For us, it will very clearly be Web3 games, now more than ever.
Of the many blockchain gaming companies, Immutable has become one of the leaders, or at least the survivors, in the emerging market. And it has an important role among blockchain platforms and so it can see more into the future.
ImmutableX generated $87 million in non-fungible token (NFT) trading volume, 250% more than last year. And Immutable's Gods Unchained game ranked among the top 25 most traded collections on all blockchains.
The Sydney, Australia-based company has two parts. Immutable makes its own blockchain games like Gods Unchained and Guild of the Guardians. And ImmutableX is a layer 2 scaling solution for Ethereum applications on the blockchain. It has become a platform for games with non-fungible tokens (NFTs) as well as a marketplace. Meanwhile, ImmutableX users benefit from the security of the Ethereum blockchain.
Robbie Ferguson, CEO of Immutable, launched the company in 2018 with James Ferguson and Alex Connolly. It was originally created to reduce the transaction costs associated with trading NFTs for Gods Unchained, providing near instant confirmation and near zero gas fees for trading and minting NFTs.
I spoke with Ferguson about the milestones Immutable has reached and what he expects to happen in 2023. The company had five games in early 2022 on its platform, and now there are over 100. It has 15 marketplaces and over 1.5 million active wallets on ImmutableX today. And the company has more than 300 employees. It certainly sounds like Ferguson wants to be one of the crypto winter survivors and bring NFTS into the mainstream game.
Here is an edited transcript of our interview.
GamesBeat: I wanted to check out some of the milestones you've reached this year and what you're looking forward to next year in general.
Robbie Ferguson: It's been an outstanding year for Immutable. At the start of the year, we had five games on the platform. We now have over 100. We have grown from three marketplaces to 15. Our global backlog has more than doubled due to the volume of these marketplaces and games, as more than half of the trading of origin on the Immutable protocol take place in a market other than where it was created. If you list it on a marketplace or any game, half the time it gets bought elsewhere, which is only possible with our global backlog.
Things I'm Really Excited About Just Came Out, Delphi Digital Released Their Gaming Report. Immutable was the largest ecosystem in terms of funding allocated to Web3 games, out of any other Layer 1 or Layer 2 in the world except Ethereum Layer 1. More than Polygon, Solana, Avalanche. I think we are more than 10 times Solana. The reason we were excited about this is that this is very high signal information. It's very easy to say that we have X number of games, which may be indie games that have very little chance of making a dent and going mainstream. We focused on games with enough funding and firepower to attract 10 or 100 million players. We also have over 1.5 million active wallets on Immutable today.
As far as we know, in terms of market share, we have moved from fifth to first in terms of winning Web3 games market share. It's been a big year for us, and a big year for Web3 games in general, especially in the context of people wondering, "Where will the first consumer utility use cases for Web3 come from? " For us, it will very clearly be Web3 games, now more than ever.
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