GameStop launches NFT marketplace on Immutable X, creates $100M dev fund
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GameStop has teamed up with Immutable X to launch a marketplace for nonfungible tokens (NFTs) later this year. Immutable and GameStop are also creating an up-to-$100-million fund dedicated to providing grants to game developers and studios to build on Immutable X and the NFT marketplace.
In doing so, it runs the risk of angering hardcore gamers and some game developers who have expressed their displeasure (to put it mildly) on social media that NFTs are either deceptive or a cash grab. It’s not clear how GameStop’s customers will react, as many are hardcore gamers who don’t seem to like NFTs, but many GameStonk investors (who pushed GME’s stock price to well over $100 on the strength of memes) have embraced radical new theories about ownership.
GameStop will use the liquidity platform of Sydney, Australia-based Immutable, which has built the Immutable X platform to power NFT marketplaces.
GameStop said that building on the Immutable X protocol will enable faster, more affordable, carbon-neutral, and nearly limitless transactions on GameStop’s NFT marketplace, which is being built for launching gaming developer-focused NFT projects.
Three top investment pros open up about what it takes to get your video game funded.
To apply for grants, you can go to this site. Immutable X sits as a layer on the Ethereum protocol, which provides security for transactions on the transparent and secure digital ledger of the blockchain.
Immutable X will enable game developers to have high transactions rates and zero gas fees, or costs related to computing usage, for trading and
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