Sydney NFT tech startup Immutable is partnering with NYSE-listed gaming giant GameStop to develop the world’s largest gaming marketplace for gamers to buy, sell and trade in-game assets.
As part of the deal, the two companies are looking to launch a fund worth up to US$100 million for NFT gaming projects.
GameStop will use the Immutable X liquidity platform to launch its NFT Marketplace later this year.
Immutable co-founder Robbie Ferguson said the the GameStop NFT marketplace, powered by Immutable X, will create significant opportunities for developers to create in-game, carbon-neutral economies in which gamers can buy, sell and trade in-game assets (e.g digital real estate, swords, skins).
“Immutable X is built using StarkWare’s StarkEx cutting-edge zero-knowledge proof technology, which rolls up hundreds of thousands of transactions into one Ethereum transaction while positioning GameStop to safely secure their users’ digital assets directly on Ethereum,” he said.
” Any carbon footprint is then offset with certified climate conscious partners Trace and Cool Effect.”
The Immutable X protocol will enable faster, more affordable, carbon-neutral and nearly limitless transactions on GameStop’s NFT marketplace.
Immutable and GameStop are also creating an up to US$100 million fund dedicated to providing grants to game developers and studios to build on Immutable X and the NFT Marketplace. Details at nft.gamestop.com
Ferguson said that until now, developers have been challenged to create in-game items that players can truly own due to prohibitive gas fees, but the Immutable X collaboration will create massive opportunities for participation and liquidity.
“Immutable is excited to be working with GameStop and leading gaming publishers to support genuine power to players. Gaming is now bigger than music and movies combined — but the time and value that gamers invest cannot be turned into real economic value,” he said.
GameStop, in partnership with Immutable, has the potential to cement itself as the ultimate destination for the next paradigm of gaming; true in-game economies that enable permissionless ownership of in-game items and value players for their time.
“GameStop’s NFT marketplace will bring the power of an insanely strong community to its over 50 million users and every developer that launches on it, and our technology will make it faster, easier, and more affordable to do so – while being 100% carbon-neutral.”
Existing partners on Immutable X include Gods Unchained (one of the top-3 largest games on the blockchain by players), Guild of Guardians (a leading blockchain mobile RPG), Ember Sword, Playco, TikTok, Planet Quest, ESL Gaming, GreenPark Sports, and Illuvium