Immutable launching crypto gaming rewards program worth $50 million

Blockchain gaming platform Immutable announced it is launching what it calls "the largest ever web3 gaming quest and rewards program."

Dubbed "The Main Quest," Immutable said it has already secured $50 million in token rewards for players. The company also said the Immutable ecosystem "boasts more than 270 titles currently in development," including higher-profile gaming projects like "Illuvium" and MetalCore."

Both those games are among the 10 titles included in the first phase of the program, the company said. "Starting today, players can get rewards immediately by exploring quests, playing games and owning collections on Immutable," according to the announcement.

As web3 gaming slowly matures and bigger-budget games are set to be released to the general public, Immutable appears eager to lure gamers with a rewards program.

"We are showing players what they can expect when we talk about the real benefits of digital ownership,” Robbie Ferguson, president and co-founder at Immutable, said in a statement.

Sydney-based Immutable has been backed by investors such as Tencent, Coinbase, Bitkraft Ventures and Galaxy Interactive.