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GameStop launches its NFT Marketplace fueling the Web3 gaming revolution

GameStop takes a revolutionary step into the world of video games with the launch of its highly anticipated NFT Marketplace. In partnership with Immutable X, a leading Ethereum layer two solution based in Sydney, Australia, GameStop is poised to change the economics of assets in the digital world.

This exciting marketplace will offer a wide range of NFT assets in the innovative Web3 gaming universe, developed on the Immutable X platform. Highlights include games such as Gods Unchained, an exciting collectible card game, and Guild of Guardians, a captivating role-playing game (RPG). These digital assets will allow players to immerse themselves in exciting adventures and unleash their creativity in the virtual realm.

The highlight of this new NFT Marketplace is its focus on sustainability and accessibility. GameStop gamers and GameStop Powerup Pro customers in the U.S. will have the opportunity to mint carbon-neutral NFT, without having to worry about the pesky gas fees associated with transactions on the Ethereum blockchain. This environmentally friendly approach is a testament to GameStop and Immutable X's commitment to protecting the planet.

Robbie Ferguson, CEO of Immutable X, highlights that this revolutionary marketplace will allow players to truly own their in-game assets. This paradigm shift represents a bold departure from the traditional revenue model used by video game industry giants. In the past, gamers were often forced to resort to shady black markets to trade game assets, but thanks to this marketplace, they will be able to do so legitimately and securely.

Since its launch, GameStop's marketplace has received an exciting collection of NFT, including fascinating "pawn" pieces from the popular Web3 chess game, Immortal Game. Current prices for these digital assets vary, offering options for all types of gamers and NFT enthusiasts. In addition, NFTs of DC comic book digital stickers have been listed, although they are not yet available for sale. Gamers will be able to connect their digital wallets, including the recently announced GameStop Wallet, to facilitate transactions in the marketplace.

Enthusiasm for this new platform has had a positive impact on GameStop's stock, rising 5% shortly after the marketplace opened on Monday, October 31, 2022. This growth demonstrates investor support and confidence in the innovative direction the company is taking.

GameStop's history is a roller coaster of successes and challenges. Founded by James McCurry and Gary M. Kusin, two entrepreneurs who met at Harvard Business School, the company got its start as a software retailer under the name Babbage. Over time, however, it evolved into video game sales, becoming a dominant force in the industry.

As the video game world moved into the digital age, GameStop faced significant challenges. The advent of downloadable games and online platforms such as Xbox Live and PlayStation Network threatened the company's traditional sales model. The Covid-19 pandemic also affected foot traffic in physical stores, adding further pressure on the company.

However, instead of giving up in the face of adversity, GameStop opted for a bold strategy: diving into the Web3 world. In 2022, they hired a new executive team led by investor Ryan Cohen, who became the company's president. Under his leadership, GameStop bet on technology and embarked on the development of a revolutionary marketplace for video game NFTs.

This new Web3-aligned approach is a testament to GameStop's innovative spirit and adaptability. The company once again demonstrated its willingness to reinvent itself and stay at the forefront of the latest technology trends.

As GameStop and Immutable X launch into the NFT world with their marketplace, they are opening up new opportunities for gamers and collectors. GameStop's future in the Web3 era looks exciting and full of possibilities as they continue to compete with other major players in the video game industry.

GameStop is undoubtedly making a mark in video game history, proving that innovation and adaptability are key to staying relevant in an ever-changing world. With their NFT Marketplace, they are paving the way for a new way to enjoy and own digital assets in the exciting Web3 gaming universe.

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