GameStop and Immutable X have partnered to launch a non-fungible token marketplace later in the year and a $100 million developer fund.
The online gaming firm is set to use the liquidity platform of Immutable, Immutable X, to power the marketplace.
GameStop notes that developing an Immutable X protocol will allow faster and environmentally friendly NFT trading.
The firm says that working with the Ethereum-based protocol would also reduce gas fees, which has always been a hurdle in minting digital assets.
Robbie Ferguson, the co-founder of Immutable, lauds the partnership saying it would revolutionize gaming economies in ownership of in-game items and value creation.
The news comes amid a backlash from the online community that NFTs were deceptive and exploitative. Those against it also cite their environmental impact.
Immutable X is based on StarkWare’s StarkEx zero-knowledge proof technology, which bundles multiple transactions into one Ethereum transaction.