Immutable co-founder: Several billion-dollar gaming firms are exploring token launches

Several gaming companies with over $1 billion in valuation are now actively considering token launches, according to Immutable co-founder Robbie Ferguson.

In a Feb. 21 post published on his X account, Ferguson revealed that he has had multiple conversations with gaming firms valued at over $1 billion that are open to the idea of launching tokens.

Ferguson emphasized that these companies, including publicly traded ones, would not have even considered discussions about tokens a year ago. He believes 2025 is accelerating years of development into a much shorter timeframe, signaling a potential shift in the adoption of blockchain gaming assets.

This coincides with a spike in on-chain gaming activity. In January 2025, there were over 7 million daily unique active wallets for blockchain gaming, a 386% rise from the previous year, according to DappRadar’s games report released on Feb. 13.

Despite the general meme coin frenzy, games like Pixels on Ronin ron-4.78% Ronin and Off The Grid on Avalanche avax1.93% Avalanche are breaking engagement records, demonstrating persistent interest.

However, the report noted that web3 gaming investments have stalled. In January 2025, just $16 million was raised, a significant decrease from $222 million in Dec. 2024. 

The entry of prominent game developers into web3 might propel the creation of AAA-caliber blockchain games, which is essential for widespread acceptance, according to DappRadar experts. The “play-to-earn” bubble of the previous cycle resulted in an oversupplied market with speculative enterprises. 

This time around, gaming companies seem to be more interested in long-term token economies that have practical in-game uses. In addition, new gaming ecosystems are emerging as AI gains traction and top titles refine gameplay, rewards, and engagement. The growing number of AAA collaborations and layer 2 advancements will also contribute to the maturity of blockchain gaming.