GameStop Partners with Immutable X on NFT Initiative
Key Takeaways
GameStop has partnered with Immutable X to further develop its NFT marketplace.
Immutable and GameStop will create $100 million fund dedicated to support game developers.
GameStop is among several traditional video game companies exploring NFTs.
Share this article
Immutable has announced a new partnership with GameStop to power its NFT marketplace.
GameStop Leveraging Layer 2 Technology
Immutable has partnered with GameStop to develop its NFT marketplace.
Immutable is the developer of Immutable X, a Layer-2 protocol for NFTs on Ethereum that allows for faster, less computationally-intense transactions at zero gas costs. It is also the creator of well-known blockchain games such as Gods Unchained and Guild of Guardians.
Immutable X is built using StarkWare’s StarkEx zero-knowledge proof technology, which is capable of rolling up hundreds of thousands of transactions into a single Ethereum transaction.
The news comes not long after GameStop first announced its foray into the NFT world, confirming their plan to build a hub for trading in-game items such as avatars, outfits, and weapons. Immutable X will have a role in powering the development of GameStop’s NFT marketplace.
The team’s plan includes launching a token pool to support developers building gaming apps and creators making content in the GameStop NFT marketplace.
In an apparent attempt to outsource developer talent, GameStop is allowing NFT content creators to apply for grant consideration via a link published via its NFT website.
In recent weeks, some of the industry’s biggest publicly traded video game companies have launched or announced plans to sell NFTs, including Ubisoft Entertainment, Zynga Inc. and Square Enix Holdings.
The global video games market has been reported to have reached $138 billion during 2021 and GameStop’s valuation is close to $10 billion at the time of reporting.
Disclosure: At the time of writing, the author of this piece owned ETH and other cryptocurrencies.
Share this article
The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.
You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.
See full terms and conditions.
Amasa Joins Polygon Studios to Advance Play-to-Earn Gaming
The micro income stream and investment platform Amasa has partnered with Polygon Studios to accelerate the adoption of play-to-earn games. Amasa Partners With Polygon Studios Amasa, a micro income streaming…
Animoca Brands Acquires Indie Game Developer Blowfish Studios
Animoca Brands has announced the acquisition of Sydney-based Blowfish Studios, expanding the firm’s game development capabilities. Animoca Brands Expands Game Development Animoca Brands is adding to its portfolio of game…
Atari Crypto Casino Launching in Ethereum Metaverse
Decentral Games is launching an Atari Casino on Ethereum. Atari Casino Coming to Ethereum Atari Casino will form part of the virtual gaming world in Decentraland, the Ethereum-based game Atari…
How to Profit From Market Volatility Using Linear and Inverse Contract…
Perpetual contracts are agreements between buyers and sellers with no specific expiry date, unlike other types of similar contracts such as options or futures. It is for the buyer and…
