GameStop unveils NFT marketplace and Immutable partnership

GameStop, the American retailer of video game consoles and software, will launch its own NFT marketplace. The platform will be built on an Ethereum layer-2 solution from Australian startup Immutable.

We’re thrilled to announce that @Immutable is taking another leap forward in the gaming & blockchain industry by partnering w/ @GameStop to power their NFT Marketplace: https://t.co/Tase31CBt3 🎮

🧵Continue for more… pic.twitter.com/8v6Titg3kq

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

Immutable is behind the NFT-focused L2 solution Immutable X. The latter allows processing more than 9,000 transactions per second, provides instant settlement and high scalability. The protocol also supports “gas-free” P2P operations.

In April 2021, OpenSea announced the integration of Immutable into its marketplace.

According to CoinDesk, GameStop chose the Australian startup’s solution in part because it enables “NFT issuance in a carbon-neutral environment.” The report adds that the company’s trading platform will feature “billions of inexpensive in-game assets that can be easily bought and sold.”

The backend for the marketplace is provided by StarkWare.

GameStop and Immutable also announced the creation of a joint fund of $100 million in IMX tokens. The structure is intended to award grants to developers and content creators in the NFT space. To participate in the program, applicants should submit an application on the dedicated лендинге.

The partnership also envisions that Immutable will provide GameStop up to $150 million in IMX “as milestones are reached.”

Over the last 24 hours, the IMX price rose 20%, according to CoinGecko. At the time of writing the token traded around $3.75.

Back in September 2021, Immutable raised $12.5m in the IMX token sale on the CoinList platform.

In the same month, the startup closed a Series B financing round totaling $60m. Investments were led by Bitkraft Ventures and King River Capital.

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