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GameStop prepares to launch NFT market

GameStop NFT

 Last year, retail investors rebounded GameStop shares as they moved toward slow death under the clutches of greedy Wall Street hedge funds.


Now, GameStop wants to give back and make the most of this second chance, by launching the NFT Marketplace to serve gamers, crypto lovers, and tech enthusiasts.


On March 17, the American video game retailer GameStop announced its intention to launch the NFT platform by the end of the second quarter of 2022.


According to the company's first-quarter report, the platform will be powered by "Immutable X," a layer two protocol running on the Ethereum network, allowing NFT exchanges instantly with the scalability of 9,000 transactions per second, without charging users any fees.

GameStop prepares for the launch of the NFT market:

On February 3, GameStop announced that the new platform would be launched by the end of 2022.


But according to the new report, the launch date has been changed to late July this year.


On the other hand, “GameStop” announced the creation of a $150 million fund of IMX tokens, the official cryptocurrency of “Immutable X” that will be delivered to the company upon reaching the set goals.


A portion of these funds will also be used to provide financial support to content creators and platform developers.


GameStop has already hired dozens of people specializing in games, blockchain, e-commerce, and various other areas of technology, so perhaps the new platform could arrive sooner than expected.

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