GameStop and Immutable To Launch An NFT Marketplace With A $100M fund

Australia-based immutable has proclaimed that its layer two (L2) scaling protocol for Ethereum (ETH) and non-fungible tokens (NFTs), immutable X, has partnered with the US-based videogame merchandiser GameStop (GME) to launch an NFT marketplace. The new marketplace are absolutely carbon neutral, said the immutable team, and can associate with no gas fees. immutable known as this “another step forward within the recreation & blockchain industry,” stating that other NFT projects will be ready to access a lot of liquidity and gaming content.

Following the news, GME jumped over 2% these days to USD 102.6. Furthermore, the price of immutable X' native token IMX rallied 38% today, by the time of writing (15:00 UTC), presently trading at USD 4. The coin conjointly appreciated 36% over the last seven days. Furthermore, GameStop and immutable said they'll launch a $100m IMX pool. The partners arrange to use the pool “for grants to creators of NFT content and technology, enabling creators to leverage all the advantages the leading L2 Ethereum brings at immutable X,” said the team. Layer one (L1) is that the Ethereum blockchain itself, whereas L2 encompasses projects engineered on high of it. VentureBeat opined, however, that by launching this platform, GameStop “runs the danger of angering hardcore gamers and a few game developers who have expressed their dissatisfaction (to place it mildly) on social media that NFTs are either deceptive or a money grab.” That said, several investors who pushed the company’s stock price throughout one of the foremost (in)famous meme manias may also be identical people who support the NFT industry.