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On Thursday, video-game retailer GameStop (GME), announced a partnership with layer-2 non-fungible tokens (NFTs), Ethereum (ETH) scaling solution Immutable X.
The firm will develop GameStop’s upcoming NFT marketplace and will provide the technology for trading and minting NFTs.
The new NFT marketplace will be 100% carbon neutral with no gas fees, Immutable developers state. Included in the collaboration is a grant program where Immutable and GameStop will chip in $100 million denominated in IMX tokens for NFT content creators and tech developers. Although GameStop will receive the rights to up to $150 million IMX tokens upon accomplishing certain business milestones.
For now, the grant is available to corporate entities and decentralized autonomous organizations developing video games, Web3, metaverse, IT services and digital brands.
GameStop’s NFT plans were unveiled in the beginning of January, with its shares shooting up as a result. This time, stock price jumped 3% in after hours trading following the news.