GameStop is launching an NFT marketplace and over $100 million investment pool for NFT creators.
A North American retail business is partnering with an Australian startup firm called Immutable.
The two businesses will also set up a grant program of up to $100 million to fund developers who would like to create NFTs that could be added to their games and sold on the GameStop NFT market.
Immutable will create up to $150 million worth of IMX using IMX and the cryptocurrency Immutablecoin. GameStop will receive up to $150 million in those cryptocurrencies if certain milestones are reached.
GameStop has already set up an NTF website, which displays nothing but an animation that shows: "Power to all players. Power to all participants. Power to collectors."
No information is provided on what this means.
NFTs is a unique non-interchangeable unit that stores data on a digital ledger known as a blockchain. Users can own, sell, and buy digital goods such as in-game items or art using these types of assets.
Despite continued criticism, most feel the structure is a significant contributor to high atmospheric carbon emissions.
Several games companies have started selling digital versions of their products as NFTs, including Ubisoft and Konami. Other well-known companies, such as Square Enix, have expressed enthusiasm for the trend.
However, certain NFT interests have lost affected after disappointing reviews, such as Troy Baker, a prolific video game voice actor, and GSC Game World, developer of the Stalker 2 game.