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Rumors of NFT partnership with Microsoft: GameStop stock rises



 Immutable X and Microsoft executives have hinted that the software giant could partner with GameStop to develop NFT games.

The share price of the well-known video game chain GameStop (GME) rose by around 13 percent in one day after rumors about a partnership with Microsoft to develop NFT games surfaced on the Internet.


On Feb. 8, GME was trading at $115.60 and has held at that level in after-hours trading.


GME started February around $100 and has skyrocketed this month after announcing the partnership between GameStop and NFTs-focused "layer-two" Ethereum scaling solution Immutable X. As part of this partnership, the two companies want to build an NFT marketplace. GameStop is also launching a $100 million grant program that will give NFT content creators and tech developers in IMX tokens.


Rumors are now circulating on Reddit and Twitter that GameStop is working with Microsoft on NFT integrations into existing games and that new games are planned with NFTs in focus.



Twitter user "P_MackD" today shared screenshots of tweets between Immutable X and Microsoft executives using the so-called "probably nothing" meme when discussing the major partnership with GameStop.


However, Yorke Rhodes III, the head of Microsoft's blockchain division, tagged Xbox, Microsoft and GameStop in his tweet. Possibly hinting that the behind-the-scenes tech giant could play a role in the Immutable X-GameStop partnership.



While the connection between these three parties is unclear as of now, in a Feb. 6 post , the Reddit community r/Superstonk hypothesized what such a partnership might entail.


Commenting on Microsoft 's $69 billion acquisition of gaming giant Activision Blizzard , bamfcoco1 pointed to the trading card game Hearthstone, which is well-suited for NFT integrations via Immutable X and GameStop.


The Redditor argued that the drop in Hearthstone's user base from 23.5 million to 3.5 million was due in part to the high cost of card collecting and a lack of real ownership of users' assets. This problem could be solved by NFT integration:


"Since you can easily mint and trade NFTs on the Immutable X platform, it's a cinch. GameStop could bring Hearthstone to its brand new Web3 platform by simply creating an NFT for each card and then matching it to users' existing card collections distributed. It couldn't be easier."

Announcements related to Web3 and NFT have had a strong impact on GameStops stock price lately. Cointelegraph reported in early January that GME's price was up 26 percent in after-hours trading following the unveiling of the company's new NFT division


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