Gamestop partners with Immutable X to power NFT marketplace

Gaming giant marks its first venture into NFTs by leveraging Immutable X's novel approach to digital collectables

Gamestop has today joined forces with Layer-2 Ethereum scaler Immutable X to launch a non-fungible token marketplace expected later this year.

The gaming giant chose Immutable X to power its upcoming NFT marketplace due to the security, speed, zero-fee and carbon-neutral approach adopted by the L2 solution which has already seen widespread adoption within the thriving NFT space.

Along with the marketplace launch, the partnership will establish an ‘up to $100 million’ fund in Immutable X’s IMX token, which will be used by both to award grants to creators of NFT-related content and technology built on the platform.

In addition, Immutable X will provide generous rewards of up to approximately $150 million in IMX tokens to GameStop upon the achievement of landmark milestones throughout their partnership.

Sydney-based Immutable X, which works on top of the Ethereum blockchain, was purposefully built and designed to power token-based games and NFT projects while leveraging the inherent security provided by Ethereum.

It’s built using StarkWare’s ‘StarkEx’ zero-knowledge proof technology, which ‘rolls up‘ a vast number of transactions into one Ethereum transaction, with carbon footprints being offset by climate-friendly partners Trace and Cool Effect.

According to Immutable, the partnership will enable Gamestop to tap into previously unexplored liquidity that resides in digital economies through greater access to players and token-based ecosystems.

It’s now expected that GameStop’s NFT marketplace will leverage Immutable X to nurture these new opportunities and enable developers to create in-game economies where gamers can buy, sell and trade virtual assets such as digital land, weapons, collectables, skins and much more.

Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.

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