Last May it was discovered that the video game retail giant Gamestop was stepping into the world of non-fungible token (NFT) technology. Nine months later, Gamestop has revealed it is partnering with the layer two (L2) Ethereum scaling project, Immutable X. The two teams have also established a $100 million fund dedicated to NFT creator grants.
Gamestop Partners With Immutable X
Gamestop has finally revealed its blockchain partner on February 3, 2022, after the company hinted about the creation of a Gamestop NFT marketplace built on top of Ethereum. Gamestop’s announcement on Thursday says the video game retailer is collaborating with the Ethereum-based L2 project Immutable X.
Immutable X previously worked with the social media company Tiktok in September. The project’s website claims that it’s the “first layer two for NFTs on Ethereum” and Immutable X participants experience “zero gas fees, instant trades, and carbon-neutral NFTs for marketplaces, games, and applications without compromise.”
Gamestop and Sydney-based startup Immutable X are also launching a grant fund worth $100 million in IMX tokens that will be used for creator grants. “We seek to fund game changers,” Gamestop says about the $100 million grant fund. “We are calling on builders and creators to power the future of Web3 gaming. Apply for grant consideration.”
Captain Crypto Punish has been working in online media since 2004. He is a writer, music producer, life coach and investor.