Video Game Retailer Gamestop Partners With L2 Startup Immutable X, Launches $100 Million NFT Fund – Blockchain Bitcoin News


Final Could it was found that the online game retail big Gamestop was getting into the world of non-fungible token (NFT) expertise. 9 months later, Gamestop has revealed it’s partnering with the layer two (L2) Ethereum scaling venture, Immutable X. The 2 groups have additionally established a $100 million fund devoted to NFT creator grants.

Gamestop Companions With Immutable X

Gamestop has lastly revealed its blockchain companion on February 3, 2022, after the corporate hinted in regards to the creation of a Gamestop NFT market constructed on prime of Ethereum. Gamestop’s announcement on Thursday says the online game retailer is collaborating with the Ethereum-based L2 venture Immutable X.

Immutable X beforehand labored with the social media firm Tiktok in September. The venture’s web site claims that it’s the “first layer two for NFTs on Ethereum” and Immutable X contributors expertise “zero fuel charges, prompt trades, and carbon-neutral NFTs for marketplaces, video games, and purposes with out compromise.”

Gamestop and Sydney-based startup Immutable X are additionally launching a grant fund price $100 million in IMX tokens that can be used for creator grants. “We search to fund sport changers,” Gamestop says in regards to the $100 million grant fund. “We’re calling on builders and creators to energy the way forward for Web3 gaming. Apply for grant consideration.”

“The partnership establishes an as much as $100 million fund in Immutable X’s IMX tokens, which the events intend to make use of for grants to creators of non-fungible token (“NFT”) content material and expertise,” Gamestop’s announcement particulars. The corporate added:

“Immutable X may also grow to be a layer-2 companion and platform for Gamestop and the corporate’s NFT market that’s anticipated to launch later this 12 months. As well as, the phrases present for Immutable X offering as much as roughly $150 million in IMX tokens to Gamestop upon the achievement of sure milestones.”

Gamestop additionally says that the collaboration deal can be filed with the U.S. Securities and Change Fee (SEC). “The partnership settlement and different related info can be disclosed on Type 8-Ok with the [SEC],” the online game retailer notes.

Tags on this story

$100 million fund, $100M fund, Content material creators, Creators, ETH, Ethereum, GameStop, Immutable X, L2, layer 2, Layer two, nft, NFT fund, NFT Market, NFT market, NFTs, Non-fungible Token

What do you concentrate on Gamestop’s partnership with Immutable X and the $100 million creator fund? Tell us what you concentrate on this topic within the feedback part under.

Jamie Redman

Jamie Redman is the Information Lead at Bitcoin.com Information and a monetary tech journalist residing in Florida. Redman has been an energetic member of the cryptocurrency neighborhood since 2011. He has a ardour for Bitcoin, open-source code, and decentralized purposes. Since September 2015, Redman has written greater than 5,000 articles for Bitcoin.com Information in regards to the disruptive protocols rising right now.

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