As a result of the partnership with Immutable X, users will now be able to buy and sell NFTs linked to digital assets for use in various games through GameStop. According to The Verge, items will include things like virtual real estate, character skins, and weapons.

Immutable X is based on the Ethereum blockchain, which requires significant energy consumption and high gas fees. The platform claims to mitigate these disadvantages by combining many NFT sales in a single Ethereum transaction and purchasing carbon offsets. As such, Immutable X, which has some blockchain games and TikTok among its partners, promises zero gas fees and carbon neutral NFTs.

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GameStop, an American retailer of video games, electronics and gaming products, in partnership with Immutable X, hopes to persuade game developers to use the market with a $100 million fund.

The Game Developers Conference conducted an annual survey of more than 2,700 developers to see the state of the game industry. He found that 70 percent and their studios were not interested in NFTs, while 72 percent were not interested in incorporating cryptocurrencies into their game. About 28 percent said they were at least somewhat interested in NFTs.

immutable x gamestop

In the last few months, some studios, publishers and industry figures have announced NFT projects. Ubisoft brought NFTs to one of its games for the first time in December, but sales seem to have slowed. GameStop made a name for itself with many different events last year, and now the company may be aiming to get out of this position with its NFT initiatives.

More-than-expected buying and selling of cryptocurrencies over the past years has helped a new market hit record highs. Digital collectibles, known as NFTs, were sold at record prices.

2021 was a breakthrough year for NFTs with sales exceeding $14 billion as artists, investors and entrepreneurs entered the emerging Web3 space.