- GameStop collaborates with Immutable X to launch an NFT marketplace.
- Both firms will initiate a $100M grant to aid creators who debut their gaming NFT projects on the marketplace.
- Immutable X will offer $150M in IMX tokens to GameStop if certain targets are met.
US-based video game retail firm GameStop teams up with Immutable X to launch its own NFT marketplace. The carbon-neutral NFT marketplace is expected to launch later this year.
Both the firms have established a $100 million grant to assist developers who plan to launch gaming NFT projects on the marketplace.
The grant fund is priced in Immutable X’s IMX tokens, specifically 56,209,850 tokens. Game developers and studios can apply for grant consideration through a link on GameStop’s NFT website.
Immutable X will provide $150 million in IMX tokens to GameStop if certain goals are met, such as the NFT marketplace launch and reaching $1.5 billion in sales volume and $3 billion in sales volume on Immutable X within a certain time frame.
Immutable X is a Layer-2 protocol for Ethereum NFTs that enables faster transactions with zero gas fees. It is built with StarkWare’s StarkEx zero-knowledge proof technology, which can combine hundreds of thousands of Ethereum transactions into a single transaction.
Just last month, GameStop hinted at the possibility of launching an NFT marketplace. The game retail giant hired over 20 people to run the unit and also intends to work with game developers and publishers to list NFTs on its marketplace.