GameStop NFTs’ foray began with a marketplace dedicated to digital art collectibles. But Thanks to a partnership with ImmutableX, its new marketplace includes NFTs from the famous games Gods Unchained, Illuvium, and Guild of Guardians.
GameStop, a well-known American retail chain specializing in video games and electronic equipment, has partnered with ImmutableX to offer Web3-based digital assets of large game clips in NFT format.
The game company, which has been losing money for years, is trying to revamp its business model. GameStop made headlines around the world when a group of Reddit users bailed it out of Wall Street speculators.
During the trial period of the new NFT marketplace, GameStop managed to raise $29 million. Now, Thanks to a partnership with ImmutableX, a fast Ethereum sidechain dedicated to NFTs, GameStop NFT offers players the opportunity to own the pieces seen in the game.
They can buy and sell them on the GameStop marketplace or any other marketplace that supports ImmutableX technology. As a result, the video game chain has cemented its position among a small but growing group of companies interested in bringing the world of NFTs to gaming.
This Is How NFTs Work
NFTs operate using blockchain or blockchain technology. They use the same technology as cryptocurrencies and operate through a decentralized network of computers, with blocks or nodes that are connected and secured by cryptography.
Each block is made to resist data tampering and is connected to the previous block along with the transaction’s timestamp and data. NFTs are assigned a digital certificate of authenticity, a set of metadata that cannot be changed.
These metadata guarantees their authenticity, record the starting values and all purchases or transactions made, and their authors. This means that when you buy tokenized digital content with an NFT, its original value and the price you paid for it will be recorded at any given time. It’s like buying a painting and tracking where it moves.
In general, most of the «tokens» or NFTs are usually based on the standards of the Ethereum network and its blockchain. Buying and selling them can be easily done using certain wallets that also work on Ethereum, Thanks to the well-known and popular technology used, however, we are talking about unique pieces, so there is no active trading like digital currency.
GameStop NFT And Immutable X
Immutable X is based on Ethereum, the leading platform for decentralized applications. While transactions on the Ethereum mainnet sometimes require large gas fees and can be slowed down by network traffic, Immutable X enables faster integration with games, apps, and NFTs by transferring transactions onto the Ethereum blockchain.
Immutable, the company behind the platform, achieved crypto-unicorn status this year. Investors like Tencent and Animoca Brands have high hopes for Immutable’s vision for the Web3 games industry, giving the startup a solid $2.5bn valuation through a series of funding rounds.
In March it reached 200 million dollars. The partnership between GameStop and ImmutableX began in February 2022. The first thing the two companies did was announce a $100 million token incentive fund for Web3 game developers.
For its part, GameStop is also participating in a $500 million fund to invest in and finance NFTs and game developers through Immutable X. Speaking about the partnership between the two companies, ImmutableX president and co-founder Robbie Ferguson said he is excited to continue working with GameStop to shape the future of web3 gaming. Betting on NFTs is becoming more and more common among the big names in the video game industry.
Tencent, One of The Market Leaders
Gaming giants like Tencent, Animoca Brands, and Yield Guild Games (YGG) are betting big on this innovation. Interestingly, the Chinese company Tencent, which was forced by Chinese law to close its NFT marketplace in China, promotes NFT technology in latitudes allowed by other regulations.
Tencent has stakes in Ubisoft and Rovio, which have joined Tencent in the NFT and Metaverse space. In fact, Tencent’s investment in ImmutableX has turned the company into a unicorn valued at over $2 billion.
Animoca and DAO YGG, which invests in NFT, are working hard to bring NFT to big games. For example, YGG has established several partnerships this year to further its vision of NFT in the gaming ecosystem.
One was through G4AL Cryptogame, a platform promoted by former Blizzard employees that aimed to provide a one-stop solution for creating AAA video games on the blockchain.
Among their projects, Elemental Raiders stands out, a complete 3D MMORPG with a game style reminiscent of World of Warcraft or DOTA. Beyond speculation, NFTs are being used to create space for real utility and value in the gaming industry.
These companies understand that shutting down the gaming ecosystem increases a speculative space that many would prefer to keep quiet. More importantly, critics of NFT technology do not report specific bad practices.
NFT games have enormous potential to change the industry. Game developers will have a new way to earn income, users will be able to buy goods that can be sold in official or unofficial markets, with the guarantee that the operation will be secured with cryptocurrencies that nobody can manipulate.
GameStop NFT And Immortal Game – Reversing the Rules of Chess
The Immortal Game team strives to do things differently. They will change the rules of chess by introducing Immortals. Immortals are farmers with special abilities.
Each immortal is an NFT, and each immortal will perform specific tasks during the game. For example, the task may be to control the enemy king or to finish the game without being captured. Players have yet to win chess games, but they are rewarded for winning and completing tasks.
GameStop NFT has pieces that will exist in various levels of purity: raw, polished, work of art, and masterpiece. The team leaked some designs on their Discord server and they look great! Depending on their purity, a GameStop NFT will more or less reward their owners. The game economy works on a two-tile system, like many other projects. IGE: government token with fixed supply and GMT: reward token with unlimited supply.
The biggest challenge here will be finding the right balance and utility to maintain a sustainable economy in the long run.
Immortal Game, a team based in France, announces its first collaboration with French Grandmaster and reigning World Blitz Champion, Maxime Vachier-Lagreve. MVL takes part as the group’s representative and advisor.
The team also collaborates with other chess personalities and the Chess Federation to promote the game and encourage young chess players to learn chess under the «Learn to Win» concept.
How To Play the Immortal Game?
After registration, you need to create a team of angel parts. When you start, the platform will give you an angel’s pawn; the mission of this pawn is to crown you. After completing the task, they will give you a horse; now you must complete the task on this horse to get another angel, so the assembled team will give you a total of 6 pieces (pawns, rooks, bishops, knights, kings and queens)., but only you can use 4 per match.
From this point on, it’s a matter of strategy and your style of play doesn’t matter. People are confused and that’s why they don’t know how to make money here because they come from platforms where the only thing that matters is winning games. In Immortal, many other factors are taken into account.
GameStop NFT and the Market
The Marketplace is a place where users can buy and sell a GameStop NFT; it is a good business opportunity. Here’s what you can do: Go to auctions and see what’s for sale. There you can get very cheap pieces. For example, if you see a king, and this GameStop NFT is normally around $60, but it’s listed for $10, bid $20, and if time runs out and no one beats you, you take the piece and sell it at regular price, or you keep it and add it to your team.
CMT is the official cryptocurrency of the site, currently worth little to nothing, but according to the creator, it will be included in the cryptocurrency trading platform in the future. For every reward in Ethereum (real money) they give you a certain number of tokens, e.g. 5000 or 10000 depending on the prize.
At this point, you can already exchange it for another cryptocurrency and even buy immutable creations.
To learn more about the GameStop NFT world, visit our site Para Hombre.
