GameStop has revealed that it has big plans for 2022 with a planform for NFTs being prepared to launch by the end of Q2 of this year.
The company confirmed the plans in its Q4 2021 earning call today and mentioned the plans in its 10-K disclosure filing which is part of “new growth opportunities.”
In the filing, it was declared:
“As we scale and expand our core offerings we will simultaneously invest in additional growth, including blockchain, digital assets (including non-fungible tokens (“NFTs”)), Web 3.0 technology, and new destination formats for our stores.”
In January 2022, GameStop and Immutable X began to collaborate for an NFT marketplace. Digital Worlds wants to offer up to $100 million in IMX tokens to creators of NFTs and also $150 million to the company GameStop as it will go on to reach certain milestones, mentions the terms of the deal.
Immutable X represents an Ethereum Layer 2 network for NFTs that was created using StartWare’s ZK-rollup technology which aims to help with two of Ethereum’s biggest problems, namely scalability and gas fees.