Gamestop partners with Immutable X for NFT marketplace, announces $100M grant for creators

On Thursday, iconic brick-and-mortar video crippled retailer GameStop announced a concern with layer-two nonfungible tokens, oregon NFTs, Ethereum (ETH) scaling solution Immutable X to make GameStop's upcoming NFT marketplace. GameStop volition utilize Immutable's exertion for trading and minting NFTs.

— Immutable | $IMX (@Immutable) February 3, 2022

Immutable developers claim that the caller NFT marketplace volition beryllium 100% c neutral with nary state fees. In addition, some Immutable and GameStop volition motorboat a $100 cardinal assistance programme denominated successful IMX tokens for NFT contented creators and tech developers. Although, GameStop volition person the rights to up to $150 cardinal IMX tokens upon accomplishing definite concern milestones.

At the clip of publication, the assistance is lone disposable to firm entities and decentralized autonomous organizations processing video games, Web 3.0, metaverse, IT services, and integer brands. The period prior, GameStop entered the NFT space by announcing the hiring of implicit 20 caller unit and teasing 2 upcoming partnerships with blockchain firms for NFT crippled development.

On societal media, users appeared little than pleased with the development, with @LouiePikmin2 writing:

"Wow, you guys volition truly bash thing to enactment successful business, including investing heavy into a fad."

In context, GameStop had dropped implicit 70% since all-time highs past January, erstwhile it was the people of a Reddit-fueled short-squeeze. The decay of its banal momentum has created a assemblage of little than blessed investors.

In addition, users look to beryllium disgruntled that Loopring, an ETH token task designed for powering decentralized cryptocurrency exchanges, was not included successful the announcement contempt anterior negotiations with GameStop. However, successful a Securities and Exchange Commission filing the aforesaid day, GameStop disclosed that Loopring is inactive progressive successful the NFT marketplace, with the institution stating:

"GameStop volition not integrate immoderate blockchain protocol different than Ethereum Layer 1 and Loopring into their NFT marketplace without archetypal having integrated Immutable."