- Immutable has removed most of its game development team and will outsource much of the work on its in-house titles.
- The company is prioritising its AI-powered Audience platform, targeting both traditional and blockchain-based game publishers.
- Despite ongoing losses, Immutable says funding secured during its 2022 capital raise provides substantial operating runway.
Sydney-based Immutable is scaling back its internal game development operations, cutting most of its studio workforce and outsourcing the majority of work on its own titles as it pivots towards an AI-driven marketing platform for game publishers. The company has removed 29 roles from its game development teams and will retain only a small in-house games group.
Co-founder James Ferguson said the shift reflects a broader move to extend Immutable’s tools beyond blockchain-native games into the wider gaming industry. He said the focus is now on expanding the company’s Audience product across both traditional and Web3 publishers, marking a significant refocus of strategy.
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Focus Moves Beyond Web3
Under the restructure, Gods Unchained will continue as a core revenue-generating title, while Guild of Guardians is being downgraded to maintenance mode. Most development work on these games will be handled externally, although the company has not named the providers involved.
Immutable originally built its business around blockchain gaming infrastructure and in-game token economies but now sees greater opportunity in player acquisition and engagement software.
Its Audience platform, launched in December, is designed to help publishers improve player growth through identity tools, attribution and campaign measurement. The company said Ubisoft’s Might & Magic: Fates saw a 10.2% pre-registration-to-download conversion rate using the system.
Despite reporting a US$48 million (AU$68.16 million) loss in 2024, Ferguson said the company remains well funded following a US$200 million (AU$284 million) raise and expects long-term runway of around a decade.
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