GameStop is getting into NFTs, as reported last month (non-fungible tokens). The startup has teamed up with Immutable X to create a gamestop NFT marketplace, which they plan to launch later this year. People will be able to purchase and trade NFTs. These are tied to digital assets that can be used in a variety of games. According to The Verge, the goodies will include virtual real estate, character cosmetics, and weaponry.
Immutable X is built on the Ethereum blockchain. Which consumes a lot of energy and has high gas costs (a cryptocurrency payment necessary to complete an Ethereum transaction). By integrating many NFT sales into a single Ethereum transaction and purchasing carbon offsets, the platform promises to mitigate these problems. As a result, Immutable X guarantees zero gas fees and carbon-neutral NFTs, with several blockchain games like TikTok as partners.
Gamestop NFT marketplace to attract creators
With the support of a $100 million fund, GameStop and Immutable X want to attract game creators to utilise the marketplace. It remains to be seen if developers and studios will respond in droves.
In December, Ubisoft introduced NFTs to one of their games for the first time, but it appears that sales have been poor. Last week, a Ubisoft official said that the ability to trade virtual products to others is useful to gamers. It is”very advantageous But, for the time being, they don’t comprehend it.”
Latest venture of Gamestop
It will take time to see if GameStop’s latest venture. Which comes after its rise as a popular meme stock last year, is a success. The market, on the other hand, does not appear to be looking up. It’s important remembering that for many years. The Steam marketplace has enabled gamers to purchase and trade in-game things without the threat of NFTs.