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GameStop partners with Immutable X and launches $100M gaming fund

Updated: Jul 25, 2024
Published: Feb 3, 2022
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Gaming giant Gamestop announced Thursday that it is working with Immutable X to launch its non-fungible token (NFT) marketplace.

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GameStop launches NFT marketplace on Immutable X

GameStop plans to offer "billions of low-cost in-game assets that can be easily bought and sold" on its NFT marketplaces. These can be digital properties and in-game skins. In a press release, the gaming giant said it chose Immutable X because the network charges "zero gas fees for trading and minting NFTs in a carbon-neutral environment." GameStop also explained that it partnered with Trace and Cool Effect to "offset its remaining carbon footprint."

Along with the marketplace news, GameStop and Immutable announced the launch of a $100 million fund to support Web 3 game development in their ecosystem. The fund aims to attract game developers and studios to the marketplace. This is just one of many $100 million gaming funds launched recently.

What is Immutable X?

Immutable X is the first Layer 2 protocol in Ethereum to focus on NFTs, offering no fees and instant trading. There are fees on the blockchain, but Immutable X takes care of those fees and makes the process practically free to users. By using Immutable X, Gamestop is enlisting the help of Starkware. This zero-knowledge-proof technology can aggregate thousands of Ethereum transactions into one.

Last September, Immutable raised a $65 million Series B led by BITKRAFT Venture and King Rival Capital. Immutable X's existing partners include Gods Unchained, Guild of Guardians, Ember Sword, Playco, TikTok, Planet Quest, ESL Gaming, GreenPark Sports, and Illuvium.

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