The NFT-gaming developer Immutable is developing Passport, a comprehensive solution for gamers. It will integrate non-custodial crypto-wallet functionality, player-profile management, and authentication tooling.
Introducing Immutable Passport, your passport to the future of gaming ?
We are developing Immutable Passport, the instant non-custodial wallet onboarding solution for web3 games. Designed to onboard the next billion users into web3 #onIMXhttps://t.co/A8WKmGUxlV pic.twitter.com/NOxmZl2vDk
— Immutable — $IMX (@Immutable) January 31, 2023
The team says the product will help Web3 game studios scale their user bases and revenues by:
- reducing entry barriers for gamers;
- improving asset distribution;
- facilitating access to games and marketplaces.
According to the developers, existing wallets are difficult for mainstream players to use. This is one of the obstacles to the mass adoption of next-generation internet gaming apps.
“The goal of Passport is simple — to give game studios the ability to make Web3 simple and accessible for everyone. With Passport, gamers will obtain a single secure wallet that will unlock new opportunities,” Immutable said.
In March 2022, the startup raised $200 million after a Series C round, valuing the company at $2.5 billion.
In June, the company announced the launch of a $500 million ecosystem fund to finance game developers and NFT-focused projects built on its second-layer protocol Immutable X. Previously, the firm created a similar structure with a $40 million budget in partnership with the gaming portal Kongregate.
In July, reports emerged of a staff reduction at Immutable. The layoffs affected the team behind the startup’s flagship game, Gods Unchained.