GameStop Announces The Launch Of Non-Fungible Tokens (NFTs) On Immutable X

Video game retailer GameStop has revealed that its non-fungible (NFT) token has been launched on the blockchain platform, Immutable X.

The company initially announced the collaboration back in February this year, and the GameStop NFT platform has been operating as a public beta since July.

To celebrate the launch, GameStop announced on its official Twitter page that it will run a limited-time promotion with lesser fees on the Immutable X platform.

Users To Have Access To More Web3 Games

Following the official launch, the marketplace will now enable users to have access to Web3 games that are being built on Immutable X. Some of the available games include Illuvium, Guild of Guardians, and Gods Unchanged. Users will also have access to more NFT gaming assets on the platform.

The developers of Immutable X stated that the layer 2 scaling product line can facilitate “100% gas-free and carbon-neutral minting and trading” for the GameStop NFT marketplace. This new feature makes it a very attractive solution for players new to Web3 gaming. These features include tokenized, tradable items like customizable land plots and digital trading cards.

With the launch of GameStop’s long-awaited marketplace, the platform now has a wider focus, bringing NFTs from interactive gamers into the space.

The Ethereum-based NFT marketplace has been live in beta for more than 48 hours. Although it has not started offering NFTs yet, it will be the main offering on the marketplace.

The initial announcement of the retailer’s partnership in February came with a $100 million token incentive fund for Web3 game developers. Additionally, GameStop initially raised $500 million fund from grants and investments for NFT game creators using Immutable X.

Immutable Became A Crypto Unicorn In September

The Immutable X platform is built on the Ethereum platform, the world’s largest platform for decentralized apps (dApps). However, the Ethereum platform has its flaws, which include a slow procession of transactions as well as high gas fees. But Immutable X is bringing something new into the picture.

The platform enables cheaper and faster games, NFT, and app interactions by transferring transactions to a second-layer blockchain.

Immutable, the company behind the platform, became a crypto “unicorn” earlier this year after raising $20 million in Series C funding from major investors like Animoca brands and Tencent. This took Immutable’s valuation to an impressive $2.5 billion.