GameStop's NFT Marketplace Goes Live With More Features on Immutable X After Beta Phase Run

The two platforms have worked together on several initiatives since February.

GameStop's NFT Marketplace Goes Live With More Features on Immutable X After Beta Phase Run

Photo Credit: Twitter/ Immutable X

Several NFTs have been listed on the marketplace already

  • Immutable X is a Layer-2 scaling solution built on top of Ethereum
  • The marketplace will allow gamers to own assets they purchase in-game
  • The marketplace's business model is said to be its USP

US-based video game company GameStop has officially launched its non-fungible token (NFT) marketplace on Immutable X and will now support NFTs minted via the Ethereum layer 2 scaling solution. According to the company's announcement on Monday, the GameStop NFT marketplace will "unlock access to Web3 games and millions of world-class, NFT gaming assets to tens of millions of GameStop players and GameStop Powerup Pro loyalty customers across the United States." Its launch follows a joint fund of $100 million (roughly Rs. 826 crore) between GameStop and Immutable X in February 2022.

GameStop first announced the NFT marketplace in February, but it dropped several hints about the same in 2021 as well. The marketplace has been operating in a public beta phase since July, and after three months of testing, it is now live.

Since February, GameStop and Immutable X have embarked upon various journeys, including debuting a $100 million (roughly Rs. 826 crore) grant fund meant "to drive new game pitches, signings and integrations from builders and creators powering the future of NFTs and Web3 gaming," as per a statement.

Recently, the integration of Immutable X into the GameStop wallet was also announced which granted the users the ability to manage their funds and digital assets under one roof easily.

"Our partnership with GameStop is an important step forward as Immutable brings the next billion players to Web3 gaming. Today's launch of the GameStop NFT Marketplace means that we can now provide access to millions of additional NFTs, more of the top Web3 games being developed today, while maintaining a best-in-class experience for players," said Robbie Ferguson, President and co-founder of Immutable X.

As reported earlier, GameStop added NFT trading cards in the virtual trading card game "Gods Unchained" under its PowerUp Rewards Pro program. The members of the loyalty program were given unique codes which were then used to redeem expansion packs in the game.

In a statement provided to CoinDesk, Jonathan Reedy, vice president of strategic partnerships at ImmutableX, revealed that down the line, the firm aims to onboard new Web3 gamers with the introduction of in-person and virtual gameplay along with educational material.

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