Video Game Retailer Gamestop Partners With L2 Startup Immutable X, Launches $100 Million NFT Fund – Blockchain Bitcoin News


Last May it was discovered that the video game retail giant Gamestop was stepping into the world of non-fungible token (NFT) technology. Nine months later, Gamestop has revealed it is partnering with the layer two (L2) Ethereum scaling project, Immutable X. The two teams have also established a $100 million fund dedicated to NFT creator grants.

Gamestop Partners With Immutable X

Gamestop has finally revealed its blockchain partner on February 3, 2022, after the company hinted about the creation of a Gamestop NFT marketplace built on top of Ethereum. Gamestop’s announcement on Thursday says the video game retailer is collaborating with the Ethereum-based L2 project Immutable X.

Immutable X previously worked with the social media company Tiktok in September. The project’s website claims that it’s the “first layer two for NFTs on Ethereum” and Immutable X participants experience “zero gas fees, instant trades, and carbon-neutral NFTs for marketplaces, games, and applications without compromise.”

Gamestop and Sydney-based startup Immutable X are also launching a grant fund worth $100 million in IMX tokens that will be used for creator grants. “We seek to fund game changers,” Gamestop says about the $100 million grant fund. “We are calling on builders and creators to power the future of Web3 gaming. Apply for grant consideration.”


“The partnership establishes an up to $100 million fund in Immutable X’s IMX tokens, which the parties intend to use for grants to creators of non-fungible token (“NFT”) content and technology,” Gamestop’s announcement details. The company added:

“Immutable X will also become a layer-2 partner and platform for Gamestop and the company’s NFT marketplace that is expected to launch later this year. In addition, the terms provide for Immutable X providing up to approximately $150 million in IMX tokens to Gamestop upon the achievement of certain milestones.”

Gamestop also says that the collaboration deal will be filed with the U.S. Securities and Exchange Commission (SEC). “The partnership agreement and other relevant information will be disclosed on Form 8-K with the [SEC],” the video game retailer notes.

Tags in this story

$100 million fund, $100M fund, Content creators, Creators, ETH, Ethereum, GameStop, Immutable X, L2, layer 2, Layer two, nft, NFT fund, NFT Market, NFT marketplace, NFTs, Non-fungible Token

What do you think about Gamestop’s partnership with Immutable X and the $100 million creator fund? Let us know what you think about this subject in the comments section below.

Jamie Redman

Jamie Redman is the News Lead at News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 5,000 articles for News about the disruptive protocols emerging today.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

More Popular News

In Case You Missed It

Source link


Be the first to comment

Leave a Reply

Your email address will not be published.