GameStop Announces Launch of NFT Marketplace and Partnership with Immutable

The American retail network for the sale of game consoles and computer games GameStop will launch its own NFT marketplace. The platform will be based on the second-level Ethereum solution from the Australian startup Immutable.

GameStop will launch its own NFT marketplace

Immutable is behind the development of the NFT-centric L2 solution Immutable X. The latter can process over 9,000 transactions per second, provides instant confirmation of the transaction and high scalability. The protocol also provides for “gas-free” P2P transactions.

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

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

The Starkware project is responsible for the backend of the site.

GameStop and Immutable also announced a $100 million joint fund in IMX tokens. The structure is intended to allocate grants to developers and content creators in the field of NFT. To participate in the program, you must leave an application on a special landing page.

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

Over the past 24 hours, the price of IMX has increased by 20%, according to CoinGecko. At the time of writing, the token is trading near $3.75.

Recall that in September 2021, Immutable raised $12.5 million as part of the IMX token sale on the CoinList platform. It took him less than one hour.

That same month, the startup closed a $60 million Series B funding round led by Bitkraft Ventures and King River Capital.

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