Game store GameStop will use immutable X to power its NFT marketplace. Gamestop is opening a $100 million fund to grant game developers. Creators can mint and trade things for gamers in a carbon-neutral environment.
Immutable is a new distribution channel for players, gamers, and companies to build on. It gives the gaming industry a global presence. This is the latest big win for the Sydney startup, GameStop.
The price of shares in GameStop went to $482 from under $20. John Sutter: I would say 95 percent of the short sellers were short sellers. Gamestop is a great example of a company that has a long history of success, he says.
The stock is currently trading at about 99. This drew worldwide attention. Trade platforms like Robinhood and stake were chaotic. Also, that sluggish place back in the community, giving it a renewed power.
Digital tokens can be used to prove ownership of any digital asset. It relates to the Web 3 revolution, but it is also creeping into the mainstream. The fact that GameStop is putting so much effort into NFTs is significant, says Ferguson.