- Video game and tech store GameStop will launch its own NFT marketplace thanks to its partnership with Immutable.
- This will be your entrance to the world of cryptocurrencies and to Web3.
- Immutable and GameStop will create a fund of up to $100 million dedicated to providing grants to game developers and studios to develop Immutable X and the NFT marketplace.
GameStop the world’s largest technology and video game retailer has announced the upcoming launch of its own NFT marketplace Will it be able to stand up to giants like OpenSea and LooksRare?
According what was announced by the American firm the launch of its NFT market will mark its arrival not only in the world of cryptocurrencies, but also in the expanding sector of the decentralized Internet, the Web3.
To do this, the video game retailer has partnered with Immutable Xa second layer solution built on the Ethereum blockchain, based in Australia, which allows, according to the firm’s page:
“Instant and scalable transactions focused on video games, NFT marketplace and zero transaction costs.”
Immutable X and GameStop NFT Marketplace
In addition, the two firms will create a fund of more than $100 million to encourage game developers and creators to launch their NFTs and decentralized games on the GameStop marketplace and built on the Immutable X solution.
“CBuilding on the Immutable X protocol will enable faster, more affordable, carbon-neutral and nearly unlimited transactions in GameStop’s NFT marketplace, which is being built to launch NFT projects focused on game developers.”expressed the GameStop team.
In addition, you can read in the statement that the two companies expect the GameStop marketplace to be ready by the end of this year 2022.
Not the entire gaming community applauds the news
It is a present reality that a large part of the world population still does not use or support cryptocurrencies or blockchain technology. Furthermore, it is also true that even more people do not understand the pros and usability of NFTs.
Therefore, it is statistically expected that dWithin the gaming community there are a lot of people who do not support Non Fungible tokens. It may be due to ignorance, a bad experience, or because they simply do not want to accept it, but, let’s accept it, they are within their rights.
From this point of view, both Immutable X and GameStop know that they can “anger some gamers and developers who have voiced their opinion that NFTs are a scam or just plain theft.”
However, the video game retailer has accepted the risk and sees it as a way to give back to the thousands of crypto users who, in addition to being gamers, were those who a couple of years ago bet on GameStop when the large capital funds had bet against the actions of the firm and it almost went bankrupt and that not only did they save GameStop, but they also caused its stock to jump as high as $300.
“It’s unclear how GameStop customers will react, as many are hardcore gamers who don’t seem to like NFTs, but many GameStonk investors (who drove GME’s stock price over $100 on the strength of the memes) have embraced radical new theories of digital property” reads the announcement.
Benefits, benefits, benefits
Finally, GameStop wanted to mention some of the benefits that investing in solutions based on blockchain technology would bring, not only to the community, but to the world.
“Building on the Immutable X protocol will enable faster, more affordable, carbon neutral and nearly unlimited transactions in the NFT market.”.
What’s more, Web3 allows video game creators to obtain high rates of return on their creations, something that is not possible with traditional technologies. But, in addition, allows players to democratize the monetization of their game time, now not only professionals who participate in competitions can make money playing.
“Immutable is excited to work with GameStop and leading game publishers to bring genuine power to gamers. Games are now bigger than music and movies combined, but the time and value invested by gamers cannot be converted into real economic value”.
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