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GameStop signs agreement with blockchain startups

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 token, depending on transaction volume.

Both companies will support creators for their platform with up to $100 million in IMX tokens

GameStop, a favorite among meme reddit stock investors, gave its share price a fresh boost when it announced the move into NFT’s.

The expansion will give the company an opportunity to capitalize on the hottest commodity in the market.

The Immutable collaboration helps GameStop by providing the back-end for its marketplace and capital for enticing game developers and artists to join.

The IMX token, is worth about $3.15 a piece, and has average daily liquidity over $50 million.