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GameStop and Immutable X launch NFT marketplace partnership



 GameStop became one of the most popular meme stocks in 2021 alongside AMC Entertainment.


IMX tokens surged to $3.92 per token on Thursday, up over 37% in 24 hours.


A new non-fungible token (NFT) marketplace is about to launch thanks to a partnership between video game retailer GameStop and Immutable X, a Layer 2 Ethereum (ETH) project.


GameStop announced this development on Thursday and stated in a press release that it expects the NFT marketplace to launch in 2022.


The US-based video game giant and the Ethereum L2 platform are also trying to attract game developers after agreeing on a $100 million partnership.


The funds, according to GameStop in its press release, will be used for support programs aimed at Web 3 and Metaverse gaming developers who want to take advantage of the new marketplace for their NFT projects.


According to a grant agreement filed with the US Securities and Exchange Commission (SEC), the funds are available in IMX token, the native token on the Immutable X platform.


The fund will have a total of 56,209,850 tokens, the SEC filing shows.


As part of the partnership, Immutable X has agreed to a $150 million giveaway of IMX tokens. The funds will be available on specific timelines, including the eventual launch of the NFT marketplace and once the platform exceeds a certain sales volume.


IMX-Token

The price of IMX has surged significantly over the past 24 hours despite a plunge across the crypto market.


According to data from CoinGecko, the price of the token has increased by 37% over the past 24 hours, standing at around $3.92 per token.


GameStop-Action

GME stock is up 2.2% on Thursday to $102.04, with the January sell-off meaning the stock is down over 33% year-to-date.

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