The last time GameStop (GME) was associated with a non-fungible token (NFT) was in January of this year.
Based on the latest developments, GME has partnered with Immutable X Pty Limited and introduced a special fund worth $ 100 million in an effort to launch the establishment of the NFT market platform.
At the same time, Immutable X also allocated a large amount of IMX tokens worth $ 150 million to support the GameStop project.
It is understood the platform will be developed on Immutable X, a Layer-2 scalability protocol for NFT in Ethereum.
While GameStop will submit collaboration and related information to the Securities and Exchange Commission (SEC) through Form 8-K.
GameStop also welcomes people to contribute on its latest platform, including game studio developers; Web3 and metaverse through the official website.
So far, GameStop has just begun setting up an online hub for NFT video game trading, covering a number of items such as clothing and equipment used in virtual reality (VR).
This latest collaboration boosted the price of IMX by over 10%, trading at $ 3.39 at the time of writing the article.
GameStop history
GameStop began to gain world attention following the pump and dump incident in late January 2021.
It started when GME shares hit an all-time high (ATH), $ 483 after being pumped by group members on Reddit’s site, WallStreetBets (WSB).
At the time, SkyBridge Capital co -founder Anthony Scaramucci described the surge in GME shares as a positive indication for Bitcoin (BTC) and decentralized finance (DeFi).
However, a few weeks later GME’s stock price dropped to nearly $ 50 a unit, and at the time of writing it closed at $ 99.23, down nearly 1%.
