GameStop stock up on rumors of Microsoft NFT game partnership

The banal terms of fashionable video crippled store concatenation GameStop (GME) surged astir 13% successful 1 time amid rumors circulating online regarding a concern with Microsoft to enactment connected NFT gaming.

At the clip of writing, GME sits astatine $115.60 arsenic of marketplace adjacent connected Feb. 8 and has besides held astir that level successful after-hours trading according to information from TradingView.

GME started February astatine astir the $100 portion and has been pumping this month connected the backmost of GameStop’s partnership with NFT focused Layer-2 Ethereum scaling solution Immutable X to make its upcoming NFT marketplace. As portion of the deal, GameStop is besides rolling retired a $100 cardinal assistance programme denominated successful IMX tokens for NFT contented creators and tech developers.

The latest rumors circulating via channels specified arsenic Reddit and Twitter suggest that GameStop whitethorn squad up with Microsoft to motorboat NFT integrations into existing games, on with creating caller NFT focused games.

Microsoft partnering with GameStop for #NFT and #Metaverse ?? large companies down the curve volition scoop up the existing manufacture leaders that person been gathering the abstraction already.

— AF (@OmniFurukawa) February 8, 2022

Twitter idiosyncratic “P_MackD” shared a photograph earlier contiguous that contained compiled screenshots of tweets from Immutable X and Microsoft execs cryptically posting the “probably nothing” meme regarding the large concern with GameStop.

Yorke Rhodes III successful particular, the manager of Microsoft’s blockchain section tagged Xbox, Microsoft and GameStop successful his tweet, perchance hinting that the tech elephantine whitethorn person a relation to play successful the Immutable X and GameStop concern down the scenes.

Best graphic I've seen astir each this nothingness truthful passing it on. Probably thing though...#GameStop #gme #Microsoft #must#immutableX #loopring #Apple #lrc pic.twitter.com/9vCZn33O5a

— moonape.nft (@P_MackD) February 8, 2022

While it is unclear what the nonstop transportation betwixt the 3 parties is, a Feb. 6 post connected the r/Superstonk Reddit assemblage outlined a notable proposal of what the concern could entail.

Commenting connected Microsoft’s large $69 cardinal acquisition of gaming elephantine Activision Blizzard, bamfcoco1 pointed to the firm’s turn-based subordinate vs subordinate collectible paper crippled Hearthstone arsenic thing ripe for NFT integrations via Immutable X and GameStop.

Related: 3 things each NFT capitalist should cognize to debar a taxation nightmare

The Redditor argued that Hearthstone’s declining idiosyncratic basal from a highest of astir 23.5 cardinal to 3.5 cardinal was partially owed to the hefty costs of paper collecting and deficiency of existent ownership implicit the user’s assets, thing which could beryllium solved via NFT integrations:

“With the quality to freely mint and commercialized NFTs connected Immutable X’s platform, it’s a nary brainer. GameStop could motorboat Hearthstone connected their marque caller Web3 level by simply making an NFT for each paper and past distributing them accordingly to users’ existing paper collections. It’s astir arsenic casual arsenic it would get.”

It appears that Web3 and NFT related announcements person a beardown interaction connected the terms of GameStops shares. Cointelegraph reported successful aboriginal January that the terms of GME gained a whopping 26% successful aft hours trading aft the unveiling of the firm’s caller NFT division.