GameStop is a video game, consumer electronics, and gaming products store based in the United States. The company became popular when users from Reddit and other trading forums caused a short squeeze. This means that a group of people from Reddit made a plan, they bought and held GameStop stocks as a means of increasing the stock price. In just a month stock prices went from $20 to $483. 

The basic activity of GameStop was selling video games. But it is obvious that physical stores, for all the goods, are becoming less popular. This is especially significant for the gaming industry, where games are sold online, you just get a link and download it. Thus, GameStop made a smart decision and began its breakthrough in the NFT market. This year, GameStop announced that they will launch their own NFT marketplace. Right now there is an open invitation for the creators to join the project, and by the end of the year, it should be available for users to buy and mint NFTs. 

Visit the BEST NFT Marketplace

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What is GameStop NFT?

In collaboration with Immutable X, an Australian blockchain firm, GameStop will launch an NFT marketplace later this year. It will also invest up to $150 million in Immutable X’s IMX tokens to provide NFT content and technology to artists. Producers from game studios, web 3.0, metaverse gaming developers, and others can apply to become content creators on GameStop’s marketplace.

The Wall Street Journal highlighted the company’s interest in NFTs last month when it announced the hiring of more than 20 new employees to head an NFT business. Although the sector is still in its infancy, GameStop is considering it after suffering in the physical game area in recent years.

GameStop NFT won’t receive the entire investment all at once. Immutable X will invest in phases. To receive the money, they will need to fulfill the following conditions:

• Conclude a cooperation agreement with Immutable to receive $83.4 million in IMX tokens.
• Mention Immutable X in a press release from GameStop as part of the launch of the NFT marketplace to receive $27.8 million in IMX tokens.
• Launch an NFT marketplace based on Immutable X to receive around $11.1 million in IMX tokens.
• Achieve $1.5 billion in cumulative sales on Immutable X to receive $22.2 million in IMX tokens within 24 months of launching the NFT marketplace.
• Achieve $3 billion in cumulative sales on Immutable X to receive $22.2 million in IMX tokens over an additional 24 months.

GameStop could already receive more than $110 million worth of tokens from cooperation. The retailer also announced on its official website that it is launching a fund with a capital of $100 million to support content on the NFT marketplace. 

Visit the BEST NFT Marketplace

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Who is Immutable X, the partner of GameStop NFT

James Ferguson, Robbie Ferguson, and Alex Connolly launched Immutable X in 2018. For minting and selling NFTs, it provides near-zero gas expenses and rapid transaction confirmation. ERC-721 and ERC-20 tokens can be readily created and traded at cheaper prices without jeopardizing the security of users’ assets.

Immutable X is based on the Zero-Knowledge Rollup (ZK-Rollup) scaling technology, which is a layer-2 protocol for verifying transactions on the Ethereum blockchain.

ZK-Rollup groups a big number of transactions into a single zero-knowledge proof known as the ZK-STARK proof, rather than adding each transaction to the blockchain. The acronym ZK-STARK stands for zero-knowledge succinct transparent knowledge arguments. It’s a means of proving ownership of specific knowledge without disclosing any information about it. It has the potential to improve the privacy and security of Immutable X transactions.

The technology which Immutable X uses to trade or mint NFTs is completely carbon-neutral. On Ethereum, minting 8 million NFT trade cards for the play-to-earn game Gods Unchained will use about 490 million kWh. Immutable X needed just 1030 kWh to mint the same quantity of NFTs using ZK-Rollup compressing the data necessary for minting, which is 475000 times less energy use. Carbon credits are used to offset the residual energy use. 

The native token of Immutable X is IMX. Users can use IMX to pay processing fees and reward users and developers. They can earn IMX tokens by helping to expand the platform by trading NFTs and developing apps. As a utility token, IMX enables token holders to participate in reward pools and collect rewards. 

Visit the BEST NFT Marketplace

Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.

How to buy NFT on GameStop?

The information about what token GameStop will use for its marketplace is not yet available, but we presume that it will be their partner’s token, the IMX. So, to be able to mint or buy NFTs you will need token IMX. You probably won’t be able to buy IMX straight from the exchange, so we recommend buying Ethereum first and the exchange it for IMX. As the best option for this purpose, we recommend eToro, which is rated as the most complete crypto exchange. Also, you will need a wallet that supports Ethereum, and some of those are Metamask, CryptoWallet, or Coinbase. 

eToro is first and foremost a social investment network that, with one of today’s most innovative approaches, provides traders with the best platform to trade CFDs, currencies, commodities, and indices. The way the trade takes place is appealing and interesting. Currently, the merchant base of this skyrocketing broker exceeds over 20 million people in 160 countries with a growing trend. 

In 2014 eToro added Bitcoin and enabled users to buy and sell CFDs on this cryptocurrency. Over the years, many other cryptos followed, and now there are more than 40 cryptocurrencies available to trade CFDs on. The advantage of using the eToro app is that it offers traders various tools with which they can make the most of their knowledge. By tracking and copying other users in real-time, traders can make significant profits with almost no prior knowledge, which is one of its biggest advantages.

Visit the BEST NFT Marketplace

Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.

Marketplaces similar to GameStop

Besides GameStop, there are also many other NFT marketplaces. Until the GameStop NFT marketplace become active, we recommend you to use NFT LaunchPad. NFT LaunchPad is our top choice for NFT marketplace applications. NFT LaunchPad, which was founded in February 2022, is one of the fastest-growing digital asset markets, offering a wide range of NFTs housed on the Binance Smart Chain and Polygon blockchains. The platform itself has a simple interface and can be used from a laptop or a smartphone.

The ‘Explore’ option on the NFT LaunchPad site offers a wide range of unique digital assets to invest in. NFT art, games, animations, collectibles, movies, and more are among them. NFT LaunchPad will provide detailed information about a listed asset when you click on it, such as who created it, what collection it belongs to, past owners, creation facts, and the listing price.

Numerous high-profile collections, such as Lucky Block NFTs and diverse abstract artworks, have already joined NFT LaunchPad. Wrapped BNB (WBNB), which is easily obtained from prominent crypto exchanges, is used to denominate the NFTs on this platform. In terms of wallets, NFT LaunchPad presently supports MetaMask and is working on adding support for Trust Wallet.

Finally, NFT LaunchPad will appeal to creators because of its straightforward minting procedure. NFT LaunchPad will lead you through the full minting process by connecting your crypto wallet and selecting ‘Create,’ with support for a variety of forms. There’s also the option of customizing your royalties and rarity level to generate passive revenue from secondary market transactions.

Visit NFT Launchpad

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What is the best NFT to buy in 2022?

There are a lot of NFT projects in development right now. Every new NFT is created for a specific purpose, whether it is a utility token or a gaming asset. But the economic principle behind them is always the same, it is made so you can earn money. If you want to invest in such an NFT, then we are suggesting you buy Lucky Block NFT. Lucky Block is a crypto lottery platform. It is a project with the Lucky Block token, and as of March 19th, they launched their first NFT. Their NFT collection is called Lucky Block Platinum Rollers Club NFT and it consists of 10000 pieces. The main quality of every NFT, besides it being a unique work of art, is that it serves as a lifetime ticket for the Lucky Block lottery draw. The lottery winnings are also NFTs or Lucky Block tokens that you can sell for crypto and later withdraw in fiat currency. 

How can you buy the Lucky Block NFT?

The Lucky Block Platinum Rollers Club NFT collection is minted on the Binance Smart Chain and that’s why you will need Wrapped BNB (WBNB). If you are using Trust Wallet, just add the coin to your wallet and then swap it with another crypto.

Get Lucky Block High Rollers Club

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Step 1: In Metamask, make sure you are on the Binance Smart Chain.

By default, Metamask will take you to the Ethereum Main Network, and to change the network, you need to click on “Wallet”. After that, you need to select Binance Smart Chain Network (which will be positioned at or near the bottom of the list of networks).

The ones of you who don’t see Binance Smart Chain listed, need to go to “Settings – Network – Add Network” and enter the following details:

Network Name: Smart Chain

New RPC URL: https://bsc-dataseed.binance.org/

ChainID: 56

Symbol: BNB

Block Explorer URL: https://bscscan.com

Then, go back to the network settings, choose Binance Smart Chain, and close the view. You will see under the “Wallet” heading that the network is now showing Binance Smart Chain.

Step 2: Get WBNB.

Swap BNB or another crypto for WBNB. Make sure you also have a small amount of BNB to cover gas fees and remember that you will need 3.75 WBNB to buy the NFT.

Step 3: Go to the NFT marketplace in your browser.

Simply go to nftlaunchpad.com.

Step 4: Click the “Connect Wallet” button.

Here, you simply need to click on the “Connect Wallet” button.

Step 5: Connect MetaMask or Trust Wallet

If you are using MetaMask, make sure to be on the Binance Smart Chain network, and also keep in mind that Trust Wallet is not available at launch.

Step 6: Click the “Explore” button.

Here, you will notice Platinum Rollers as one of the collections that you can purchase.

Step 7: Click on “Buy Now” to buy the NFT

Don’t be confused about not seeing the image of the actual NFT during the buying process. You will see it after the transaction is done.

Step 8: Here you will see your NFT appearing in your site profile area.

For accessing NFT Launchpad from your phone, you need to use Metamask’s built-in browser. Simply go to the drop-down menu and select “browser”. Then, type the “nftlaunchpad.com” URL into the address bar to navigate to the marketplace.

Now, you will see the NFT in your profile on NFT Launchpad. Click on the avatar on the bottom left-hand side.

To see the NFT in your MetaMask wallet, go to the import token at the bottom of the assets list. For the contract address paste: 0x78178bb96d3533D45EB4809bfE4c3F69E712b560

Collectible ID: the number of the NFT you bought

Token symbol: LCK

Decimals: 0

As we already mentioned, you can purchase your Lucky Block NFT on Launchpad, but there is one more way to do that. You can purchase the Crypto for your Lucky Block NFT, or any other NFT on eToro, and here we will explain how you can do that.

Get Lucky Block High Rollers Club

Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.

Conclusion

GameStop NFT marketplace is a brand new marketplace. The whole platform is still in its beta version and currently, there is an open invitation for creators to join. The company behind the marketplace is GameStop, a famous American video game store, which most people heard about when its stocks skyrocketed in 2021 after an artificially created short squeeze.

At the very same time, they became interested in the NFT market. The whole thing became certain when they announced the cooperation with Immutable X, which will invest up to $150 million in the next two years. 

The marketplace is not active yet, so until it becomes active, we recommend you to use NFT LaunchPad which is as good as the GameStop NFT marketplace. 

We still need to wait until the end of the year to see what it will look like, but we are sure that the GameStop marketplace will be a success.