- GameStop is launching a $100 million grant programme for NFT content creators and tech innovators in IMX tokens as part of the agreement
- In early January, Cointelegraph reported that GME’s stock jumped 26% in after-hours trading following the announcement of the company’s new NFT business.
- Hearthstone as something ripe for NFT integrations via Immutable X and GameStop in response to Microsoft’s huge $69 billion acquisition of gaming giant Activision Blizzard
The stock price of GameStop (GME), a famous video game retailer, jumped over 13% in one day amid online speculations of a deal with Microsoft to work on Next-Generation Gaming (NFT). According to TradingView data, GME is currently trading at $115.60 as of market close on February 8, and has also remained around that level in after-hours trading.
Gamestop Is Launching A $100 Million Grant Programme For Nft Content Creators And Tech Innovators In Imx Tokens
GME began February at roughly $100 and has been surging this month as a result of GameStop’s collaboration with Immutable X, a Layer-2 Ethereum scaling solution focusing on NFTs, to construct its future NFT marketplace. GameStop is also launching a $100 million grant programme for NFT content creators and tech innovators in IMX tokens as part of the agreement. According to recent reports circulating on Reddit and Twitter, GameStop and Microsoft may collaborate to provide NFT integrations into existing games as well as develop new NFT-focused games.
Earlier afternoon, Twitter user “P MackD” published a snapshot of combined images of tweets from Immutable X and Microsoft executives cryptically stating the “probably nothing” meme regarding the major GameStop relationship. Yorke Rhodes III, the director of Microsoft’s blockchain division, specifically mentioned Xbox, Microsoft, and GameStop in his tweet, possibly implying that the tech giant is involved in the Immutable X and GameStop collaboration behind the scenes.
While the specific nature of the three parties’ relationship is unknown, a Feb. 6 post on the r/Superstonk Reddit community detailed a noteworthy speculation of what the cooperation could involve. Bamfcoco1 alluded to Activision Blizzard’s turn-based player vs player collectible card game Hearthstone as something ripe for NFT integrations via Immutable X and GameStop in response to Microsoft’s huge $69 billion acquisition of gaming giant Activision Blizzard.
The Redditor said that Hearthstone’s dwindling user population, from around 23.5 million to 3.5 million, was due in part to the high prices of card collection and a lack of actual ownership over the user’s assets, both of which could be addressed by NFT integrations:
Gme’s Stock Jumped 26%
It’s a no-brainer when you may freely mint and exchange NFTs on Immutable X’s platform. By creating an NFT for each card and then distributing them to customers’ existing card collections, GameStop could launch Hearthstone on their brand new Web3 platform. It’s about as simple as it gets.
Web3 and NFT-related news appear to have a significant impact on GameStop’s stock price. In early January, Cointelegraph reported that GME’s stock jumped 26% in after-hours trading following the announcement of the company’s new NFT business.