GameStop launches NFT marketplace in partnership with Immutable
U.S. video game retail giant GameStop has launched its NFT marketplace in partnership with start-up Immutable.
The marketplace will be based on Ethereum-based network Immutable X and will make available NFT games such as Gods Unchained, Guild of Guardians and Illuvium, and others, Immutable said on October 31.
The launch of GameStop’s NFT Marketplace was reported in January by the Wall Street Journal, with GameStop’s stock price rising 20 percent the next day.
In addition to the Web3 games, the GameStop NFT Marketplace handles NFT items such as characters, weapons, and costumes designed for each game. GameStop and Immutable will also grant users who trade on the GameStop NFT Marketplace a token equivalent to 1 percent of their daily volume.
In February, GameStop and Immutable announced a partnership to launch the GameStop NFT Marketplace and create a fund of up to US$100 million to support NFT creators. GameStop also integrated Immutable X into its Wallet, giving players the ability to manage their funds and digital assets. In September, it began offering rewards for members of GameStop’s membership program, PowerUp Rewards Pro®, among other things.
Immutable raised US$200 million in March and is now a unicorn company with a corporate valuation of US$2.5 billion. The video posting app TikTok has been using Immutable X since 2021 for its creator-focused NFT, and other major NFT marketplaces such as OpenSea have also used Immutable X to build their apps.