GameStop Partners with Immutable to Launch an NFT Marketplace

gamerant.com:

NFTs have become a hotly debated topic. With many gamers viewing NFTs as a negative addition to the gaming environment and executives at Ubisoft saying players don't understand NFTs, the addition of NFTs into the industry has gone poorly so far.

Regardless of this, GameStop has confirmed it wants a piece of the metaverse pie, announcing it is partnering with Immutable, an Australia-based blockchain startup. This news comes after GameStop quietly launched an NFT page back in May 2021, suggesting this plan has been in the works for a long time.

United States Postal Service is Making NFTs

With recent news suggesting that GameStop would create an NFT marketplace, it was only a matter of time before GameStop confirmed it itself. Along with the announcement of working with Immutable, GameStop announced some key points about how the marketplace will work. First off, the marketplace will operate using Immutable's own cryptocurrency Immutable X (IMX). In return, Immutable has guaranteed GameStop up to $150,000,000 in IMX with certain stipulations dealing with GameStop's continued success. Secondly, the website is open to creators from gaming studios, Web3.0 developers, metaverse game developers, and others depending on their intentions. Lastly, the marketplace will create NFTs for video games only.

For those still confused about what NFts are, NFTs, or Non-Fungible Tokens, are basically pieces of digital art. Like physical works of art, though fakes can be made, the original work of art is unique and thus holds value. Many argue that NFTs hold no value because they are digital images, and thus can be copied and pasted. However, the reason NFTs can hold value and are unique is because they hold a one-of-a-kind digital signature. NFTs