By
Chimamanda U. Martha
April 22nd, 2024
Robbie Ferguson, president of ImmutableX, noted the launch of the marketplace with GameStop allows the firm to continue providing players with the best experience.
Retail gaming platform, GameStop, has added support for blockchain platform ImmutableX on its NFT marketplace.
The partnership between GameStop and ImmutableX was first announced in February. Since then, both firms have worked together on several initiatives, including the launch of a $100 million grant to support Web3 developers.
GameStop announced the launch of its NFT marketplace in July as ‘part of a turnaround plan’. With the beta launch, only digital artworks and collectibles were available for the platform. This spurred questions about when the firm would bring interactive gaming NFTs and assets into its platform.
By adding support for ImmutableX, assets from Web3 games on ImmutableX will also be available for sale and purchase on the platform. Particularly, assets from Web3 games on ImmutableX like Gods Unchained, Guild of Guardians and Illuvium will be available. These assets include tokenized lands, digital trading cards, customizable land plots, and more.
To incentivize traders, GameStop is offering traders up to 1% of their daily trading volume in Immutable tokens (IMX). It’s also charging a marketplace fee of just 0.2% and offering rewards for staking.
GameStop NFT Marketplace Benefits
Robbie Ferguson, president of ImmutableX, noted the launch of the marketplace with GameStop allows the firm to continue providing players with the best experience. He said:
“We can provide access to millions of additional NFTs and more top web3 games while maintaining a best-in-class experience for players.”
Additionally, the partnership will help ensure faster and cheaper gameplay interactions than Ethereum’s main net. It will also permit gas-free and carbon-neutral minting and trading on the GameStop NFT marketplace, a feature that will attract new web3 gamers. Also, both firms will work to bring new web3 players on board by educating them.
Meanwhile, GameStop has been working on multiple Web3 integrations in the last year. In May, GameStop launched its self-custodial wallet for crypto and NFTs. Later in July, it partnered with Loopring to process trades on its beta marketplace launch. Most recently, it announced a potential partnership with a leading exchange, FTX.
Since announcing the integration, trading on the GameStop NFT marketplace is up 20% with a 27% increase in trader volume, according to DappRadar.