Popular American video game and consumer electronics retailer, GameStop, has revealed that it will be partnering with the layer 2 scaling solution for NFTs, Immutable X, to launch an NFT marketplace.
The company noted that it will utilize Immutable X’s technology to mint and trade NFTs on its “100% carbon neutral” NFT marketplace. The marketplace will be designed to enable the launch of gaming developer-focused NFT projects with high transaction rates and zero gas fees.
According to GameStop, developers have been challenged by the extremely high gas fees notoriously associated with the Ethereum network. However, leveraging Immutable X, the company intends to tap into the dominant Ethereum ecosystem of NFTs without the high fees.
Speaking on the partnership, Robbie Ferguson, the co-founder of Immutable X said,
“Immutable is excited to be working with GameStop and leading gaming publishers to support genuine power to players. GameStop, in partnership with Immutable, has the potential to cement itself as the ultimate destination for the next paradigm of gaming… GameStop’s NFT marketplace will bring the power of an insanely strong community to its over 50 million users and every developer that launches on it, and our technology will make it faster, easier, and more affordable to do so – while being 100% carbon-neutral.”
The project is expected to go live before the year runs out.
GameStop Unveils $100 Million Fund for NFT Developers
In addition to the news of its NFT marketplace launch, GameStop also announced that it will launch a $100 million fund dedicated to supporting Web 3 game development and NFT creators.
The fund is geared toward attracting game developers and NFT projects to the marketplace. Web 3 and metaverse developers, gaming studios, IT services, digital brands, and anyone willing to become an NFT content creator in the marketplace can apply for a grant on the GameStop website.
GameStop had hinted at its interest in joining the rapidly growing NFT industry when it listed several job openings for Web3 and NFT-experienced software engineers and product marketers. The company subsequently hired about 20 people to manage its NFT unit.
Last week, the world’s largest NFT marketplace was reported to be working on integrating high-performance blockchain, Solana, on its platform.
