cryptoknowmics.com
GameStop revealed today that ImmutableX, an Ethereum layer-2 scaling platform, now supports NFTs, allowing for the purchase and sale of Web3 game assets on the network. ImmutableX is a layer-2 scaling network created to scale Ethereum. https://twitter.com/Immutable/status/1587172557832310784 The interactive NFT products for several immutable X-based games, including Gods Unchained, Illuvium, and Guild of Guardians, are now accessible through the GameStop shop. A few examples of tokenized, tradeable objects are configurable land plots and digital trading cards.
Collaboration of GameStop and ImmutableX
In February, the store initially disclosed its collaboration with ImmutableX. In addition to the $500 million fund comprising investments and awards for NFT and developers utilizing ImmutableX, the companies launched a $100 million token incentive fund for Web3 game makers. GameStop also took part in this fund independently. Over the past year, GameStop has worked to expand its collection of Web3 connectors. The business unveiled its self-custodial cryptocurrency and NFT wallet in May. It launched its beta marketplace in July and processed transactions using the layer 2 scaling product Loopring, generating $7.2 million in sales in the first week. Most recently, the shop revealed plans for a collaboration with FTX, a cryptocurrency exchange.
Physical and Virtual Games in Future
According to Jonathan Reedy, vice president of strategic alliances at ImmutableX, both businesses want to attract more Web3 players by bringing both physical and virtual games in the future. He further stated that ImmutableX aspires to establish a gaming landscape where actual digital ownership and enjoyment lie at the center of the gameplay. This would replace the current focus on wallets, bridges, chains, and rollups in blockchain gaming.
Matt Finestone Left GameStop
In mid-September, Cryptoknowmics reported that the leader of GameStop's blockchain, Matt Finestone, resigned from the video game store. Finestone expressed his appreciation for the company and its ambition to keep enhancing the Ethereum environment. In April 2021, Finestone began working at GameStop, according to his LinkedIn profile.