GameStop Chooses Blockchain ImmutableX to Launch NFT Marketplace
ImmutableX, a platform for non-fungible tokens (NFTs) on Ethereum’s layer-2 scaling infrastructure, has recently been created by the American computer game giant GameStop.
GameStop stated that platform customers would now offer access to Web3 games presently being developed on ImmutableX, – for example Gods Unchained, Guild of Guardians, and Illuvium, in addition to other NFT gaming content. The latest NFT marketplace will feature tokenized, tradable products like digital trading cards and fully customizable land parcels, among many others.
According to sources, ImmutableX will enable “100% gas-free and carbon-neutral minting and trading” on the GameStop NFT marketplace. The platform will be accessible throughout the United States, allowing GameStop gamers and Powerup Pro loyalty clients to get access to Web3 games and millions of NFT gaming content.
In addition to the NFT platform, GameStop and ImmutableX will collaborate on a number of Web3 projects, such as a $100 million grant program to encourage new game ideas, registrations, and integrations from developers and artists.
According to the article, the platform would return 1% of its customers’ daily trading volume in Immutable’s IMX token. It will also provide incentives for staking (or freezing) tokens, reducing its marketplace cost to 0.2% for an indefinite period of time. Additionally, ImmutableX will be integrated into the wallet of the GameStop NFT Marketplace to facilitate the maintenance of digital content.
Robbie Ferguson, president and co-founder of ImmutableX, seems ecstatic about the partnership and eager to construct the potential of web3 gaming. He continued, “Our cooperation with GameStop is a significant advancement as Immutable introduces the next billion people to web3 gaming. With the opening of the GameStop NFT Marketplace, we can already give gamers with access to millions of further NFTs, including more of the most popular web3 games being created today, while preserving a great experience.
GameStop has made significant investments in web3 in response to the NFT and metaverse mania that started last year. The relationship between the video game shop and Immutable X was initially revealed in February. With the latest news, the share value and trading volume of GameStop soared.
Nevertheless, within a short duration after after the market opened, the NYSE abruptly suspended trading in GameStop shares, citing the “Limit Up Limit Down” regulation. GameStop announced a contract with the prominent cryptocurrency trading exchange FTX in September to simplify Web3 gaming and increase mainstream acceptance.