GameStop To Launch NFT Platform By June 2022
During the Q4 2021 earnings call today, Gamestop released its plans in its 10-K disclosure filing under a section entitled “new growth opportunities.”
The company described its forward thinking goals during today’s call saying,
“As we scale and expand our core offerings we will simultaneously invest in additional growth, including blockchain, digital assets (including non-fungible tokens, Web 3.0 technology, and new destination formats for our stores.”
GameStop announced a partnership with Immutable X in January of this year with the aim of constructing a unique NFT marketplace. Digital World has earmarked $100 million in IMX tokens to NFT creators and up to $150 million to GameStop itself as certain milestones are eclipsed.
Immutable X is an Ethereum Layer 2 network for NFTs built utilizing StarkWare’s ZK-rollup technology, which allows increased scalability with the added benefit of lower gas fees.