Photo by Sean Hollister / The Verge
GameStop plans to launch its own marketplace for non-fungible tokens (or NFTs) and is co-creating an “up to $100 million” fund for game developers who use it. The marketplace will mark GameStop’s expansion from a popular meme stock to a company that dabbles in cryptocurrency and Web3 tech — although it may also provoke the wrath of gamers who are stridently opposed to NFTs.
The new GameStop NFT marketplace is supposed to launch later this year. It’s built on Immutable X, a platform based on the popular Ethereum cryptocurrency blockchain. Designed by Immutable, the company behind the NFT trading card game Gods Unchained, Immutable X is intended to mitigate the biggest drawbacks of Ethereum: its massive energy consumption and the high…
