GameStop Picks NFT Market Partner in Challenge to OpenSea
- Immutable X protocol selected for launch later this year
- GameStop looking to expand its meme investor appeal with NFTs
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GameStop Corp. is teaming up with Sydney-based Immutable on a new marketplace for non-fungible tokens and setting up a fund valued at about $100 million to promote NFT projects.
Under the agreement, GameStop will use Immutable’s technology for an NFT trading hub, which it plans to launch on the Ethereum blockchain by the end of the year. The Australian company, in turn, will pay GameStop up to $150 million in IMX, Immutable’s token, depending on transaction volume. The two companies will support creators for their platform with up to $100 million in IMX.