Immutable declares win for Web3 gaming as SEC ends investigation
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Summary
Gaming platform Immutable has been notified by the Securities and Exchange Commission (SEC) that it is ending its inquiry into the company, with no findings of wrongdoing.
The probe was looking into potential violations of securities laws and misrepresentations by the firm.
Immutable has led the way in Web3 gaming, onboarding more than 500 blockchain games to its platform.
Founder Robbie Ferguson said the company can now “build unencumbered” towards its aim of bringing digital ownership to the global gaming industry.
He said regulatory clarity would unlock further investment and opportunities for ventures such as tokenising the $200bn market for in-game purchases.
Immutable’s native token IMX could also see increased institutional interest.