Immutable Adding Roughly 15 Studios Every Week as Ferguson Teases ‘Imminent’ Product Launch

In Brief:

• Over the past 90 days, Immutable has been onboarding around 15 new game studios weekly, according to co-founder and president Robbie Ferguson, who also teased a new product announcement coming “imminently.”
• One unnamed game picked up 150,000 wishlists in 10 days with Immutable’s help, and saw its wishlist-to-sale conversion rise 2.2 times, he said. Neither the title nor the forthcoming product was identified.
• All of these numbers come from Immutable itself, and they arrive alongside the commercial case for Immutable Audience — the growth platform the firm has been marketing to web2 studios ever since Immutable Play expanded past crypto games in August 2025.

Immutable is bringing on roughly 15 new game studios every week and will unveil a new product “imminently,” co-founder and president Robbie Ferguson wrote in a post on X.

The metrics came in a rundown of what Ferguson described as “the last 90 days at @Immutable have been some of the biggest in the company’s history.” Beyond the studio sign-ups, he said the company “helped one game grow by 150k wishlists in 10 days” and “increased their wishlist → sale conversions by x2.2.”

No game, product or release date was specified. Independent verification of the figures is not available.

The wishlist pitch

Immutable’s commercial argument currently revolves around that 2.2 number. In research it put out in April, the company reported that conversion from Steam wishlist to actual player has fallen from about 20% in 2018 to somewhere between 5% and 10% in 2026 — a slide Immutable characterizes as structural instead of cyclical: yearly game releases keep climbing, wishlisting happens earlier and across more titles, and squeezing conversion out of the launch window takes effort most studios never put in.

Those figures are Immutable’s own. Per the company, the benchmarks pull together publisher conversations and platform analytics spanning 2018 to 2026, while customer uplift is measured against pre-campaign control segments and published in aggregate.

Immutable Audience is the vehicle for that pitch. Covering five products that stretch from a player’s first click through to repeat purchases, it collects player emails while pushing wishlists and pre-registrations, layering personalized campaigns, channel attribution and creator measurement on top. Ubisoft, NetMarble and upwards of 700 funded games are listed as users. Immutable Passport supplies the identity layer beneath it all.

Ubisoft keeps surfacing as the proof point. Might & Magic: Fates used Audience to assemble an owned audience before launch, then ran a five-phase email sequence in the lead-up to its February 2026 release. On day one, players who came in via that owned channel converted at 2.8 times the rate of those arriving through standard Steam storefront notifications — a gap that had stretched to 3.0 times by day 14. Immutable has also claimed elsewhere that the game tripled its pre-registration-to-download conversion, reaching 10.2%.

How the funnel got here

On Aug. 12, 2025, Immutable threw Play open to every game, web2 titles included, with Ubisoft signing on as the first non-crypto studio. At that point the company reported reaching 5.6 million wallets and 660 games — a figure it characterized as 70% of the web3 market.

Three developments framed the timing, per Immutable: the Epic Games court decision permitting developers to process payments outside app stores and sidestep the roughly 30% cut; the CLARITY Act, which excludes certain video game assets from the digital commodity definition; and stablecoins evolving into payment rails that work without a crypto-native user. Ferguson’s own explanation for building Play was that most games can’t attract enough players when they launch.

Sept. 19, 2025 brought a mobile gaming division, targeting a market Immutable pegged at $121 billion. Since April, the company said, it had already driven three games to the No. 1 slot on both the App Store and Google Play, and it counted over 680 funded games on the platform. Bitkraft and King River Capital are among its backers.

The underlying infrastructure has been consolidating at the same time. Immutable folded its two chains into one in 2026, retaining zkEVM as the foundation on the grounds that EVM compatibility affords studios more headroom for complex onchain logic. Games and staking contracts migrated first, followed by the sandbox and testnet environments, and then the asset bridge. Operating two chains had fragmented liquidity and required studios to commit to a network before shipping anything at all.

Founded in Sydney in 2018 under the name Fuel Games, Immutable Pty Ltd was started by Robbie Ferguson, James Ferguson and Alex Connolly.

When the mobile division was announced last September, Ferguson described phones as “the single largest opportunity in gaming,” adding that the company was “prepared to invest heavily in new products, talent and partnerships.”