GameStop introduces NFT marketplace officially
Using the Immutable X Layer 2 scaling protocol, the platform will provide digital assets from big web3 games.
The GameStop NFT marketplace is live on Immutable X, a Layer 2 scaling technology for Ethereum. The business of video game retailers is declining, but it is now poised to become a big participant in the NFT gaming market, rivalling crypto-native gaming NFT platforms like Fractal, developed by Twitch’s Justin Kan.
In addition to other web3 games, GameStop’s marketplace will have assets for Immutable X titles such as Gods Unchained, Guild of Guardians, and Illuvium. Immutable X’s Ethereum scaling will eliminate all transaction fees and deliver carbon-neutral minting for all transactions.
Immutable, the creator of Immutable X, joined with GameStop in February to launch a new NFT marketplace centred on gaming. In March of this year, a value of $2.5 billion was placed on Immutable.
According to the company’s financial report, GameStop earned $1.1 billion in the second quarter, a 3.4% reduction compared to the preceding quarter. This year, the corporation has taken several important web3 moves, including a partnership with the cryptocurrency exchange FTX US to offer GameStop customers with access to FTX’s digital asset marketplace.
The Block’s Data Dashboard indicates that weekly sales of gaming NFTs have rebounded marginally from the summer’s weak market in recent months.