GameStop announces further NFT updates with Immutable X

GameStop announced their first crypto/web3 based venture back in February of this year, alongside rising star Immutable X who have since also featured alongside other web2 gaming companies.

Nearly 9 months later and we have received further updates for this teased venture that will feature NFTs, games and much more to fans. NFTs and Games built with Immutable X will be featured on the platform, onboarding a substantial amount of new players into blockchain games.

This project has an official site that is stating it is in its Beta phase of release, and looks great so far to say the least. Originally, the platform was able to host NFTs and other assets through the integration of Ethereum technologies in July and Loopring layer 2 solutions to get the Beta launched back in March.

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Image Credit | GameStop/Immutable X

It is fair to say the release schedule for each stage of this project has been met in a timely manner. Now that we are in November, GME and Immutable X have since allowed the integration of web3 related gaming projects, with some of the biggest names currently listed and available to play via the portal. They include:

  • Gods Unchained
  • Immortal Game
  • Guild of Guardians
  • Ember Swords
  • Bitverse
  • Hro (DC TCG Game)

$500 Million Already Invested

A total of $500 million was placed into an investment fund for game developers and NFT creators using the Immutable X platform by GameStop and a further $100 million was put aside for a token incentive as a joint venture from the 2 companies leading this project.

Immutable X themselves have recently being evaluated as a $2 billion company thanks to a number of different investments and thumbs up from heavyweights such as Animoca Brands residing in Asia.

Gamers who are signed up to GameStop Powerup Pro scheme will be able to take advantage of further features, such as an order book to play any of the games that are featured on the Immutable X network.

When people see Ethereum many will be quick to jump to conclusions when regarding gas fees and overall eco-friendliness of the given project. GameStop and Immutable X have vowed to provide 100% gas free transactions fees and carbon neutral minting of via their NFT marketplace.

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Image Credit | GameStop

The effect of crypto on the environment

Crypto as an industry has an enormous effect on the environment, and a negative one at that. It has been compared to that of the country of Greece, which is crazy. Since 2016, mining a singular Bitcoin has managed to increase the CO2 emissions by 126x, from 0.9 tons to 113 in 2021.

The carbon awareness of Gamestop and Immutable is a positive step in the right direction as the mining power and overall contributions to climate change will thicken as crypto becomes more popular and adapted across industries. We have seen a number of carbon credit tokens have picked up in popularity with the likes of KlimaDAO & MCO2 Token making the most notable waves so far.

Gamers who are signed up to GameStop Powerup Pro scheme will be able to take advantage of further features, such as an order book to play any of the games that are featured on the Immutable X network.

It must also be noted that GameStop and Immutable X are giving true power to the players! Traders using the platform will hand out 1% of the day’s trading volume in the form of IMX token and other rewards for staking crypto via the platform.

Please be aware if you are outside of the USA you will not be able to access the NFT marketplace in continents such as Europe and Asia. Hopefully with future developments of this project we see the integration into these parts of the world.

This recent update is another reason why web3 is an important advancement for technology and entertainment. GameStop has been able to bridge the gap for a large number of users that otherwise may not expose themselves to the possibilities of blockchain gaming. Whilst not necessarily being the largest platform in terms of trading volume, it is great to see a recognisable name making a contribution to the world of web3 and blockchain.