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Immutable X is launched on the GameStop NFT market, which supports the trading of Web3 game assets
2022-11-01 15:05
This article is about 1206 words, reading the full article takes about 2 minutes
Interactive NFTs for games like Gods Unchained and Illuvium are now available through GameStop's Web3 platform.

This article comes fromDecrypt, the original author:Kate Irwin

Odaily Translator | Nian Yin Si Tang

Odaily Translator | Nian Yin Si Tang

Video game retailer GameStop announced today that it has added support for NFT generation through the Ethereum Layer 2 expansion network Immutable X in its marketplace, which means that assets from Web3 games can be bought and sold through the platform.

Immutable X-based games like Gods Unchained, Illuvium, and Guild of Guardians all have their own interactive NFT items in the GameStop marketplace. This includes tokenized, tradable items such as digital trading cards and customizable plots, among others.GameStop in JulyOpened the long-awaited NFT market

, but at launch, the platform only offers digital artwork and collectibles. Given the company's broader focus and previously announced plans to go to market, many in the Web3 space are curious when the company will bring NFTs from interactive games to the mix.This retailer's partnership with Immutable XFirst announced in February of this year. The two companies announced a $100 million token incentive fund for Web3 game developers, while GameStopSolo participation in $500 million fund

, providing investments and grants to NFT and game developers using Immutable X.

Immutable X is built on Ethereum, the leading platform for decentralized applications. While transactions on the Ethereum mainnet sometimes require high gas fees and can be slow depending on network traffic, Immutable X enables faster and cheaper games, apps and NFTs by moving transactions to the Layer 2 blockchain interact.Immutable, the company behind the platform, achieved crypto "unicorn" status earlier this year. early March,Immutable raises $200 million at $2.5 billion valuation

, Temasek (Temasek) led the investment, Animoca Brands, Mirae Asset, ParaFi Capital, Declaration Partners, Tencent Holdings, etc. participated in the investment. Robbie Ferguson, co-founder and president of Immutable, said that this round of financing will be used for investment in mergers and acquisitions.

As of today, GameStop says its marketplace is out of beta testing. GameStop offers various incentives for traders using its fledgling NFT platform. According to a representative, the marketplace will return users 1 percent of their daily trading volume in Immutable’s IMX tokens and offer rewards for staking (or locking) the tokens. It also set the market fee at 0.2% for an undisclosed period.

However, prior to today's announcement of new Immutable X support, GameStop NFT's total transaction volume was only about $29 million from nearly 24,000 transaction users, according to DappRadar. In comparison, leading NFT marketplace OpenSea generated around $309 million in transaction volume in October alone.

Decrypt reached out to GameStop and Immutable X representatives for more information on the market's performance so far, but had not received a response by press time.

GameFi
NFT
Web3.0
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