Feb 3, 2022 - Technology

GameStop is planning an NFT marketplace

Photo: Artur Widak/NurPhoto via Getty Images

Photo: Artur Widak/NurPhoto via Getty Images

GameStop is creating an NFT marketplace and setting up a fund of “up to $100 million,” in partnership with blockchain company Immutable, in an effort to attract game developers to sell NFT-based items through the service.

Why it matters: GameStop, which still doesn’t have a clear path to success, has been teasing an NFT play for some time.

  • But backlash against NFT projects launched by traditional gaming companies has been severe, prompting some to backtrack.
  • GameStop and Immutable hope that some developers will hop in regardless.

What they’re saying: Immutable is promising a “carbon neutral” approach but acknowledged gamers are skeptical of all of this NFT stuff.

  • “The best thing to do is to create truly player-first gaming experiences that embrace the benefits, rather than the hype, of NFTs,” Immutable co-founder Robbie Ferguson told Axios.
  • “Gods Unchained, our trading card game, didn't use the word ‘NFT’ for the first three years — we simply talked about the benefits players received, now they could sell or trade their card collection like you would Magic the Gathering or Pokémon cards. Until we can create amazing experiences without having to say ‘NFT,’ we're not there.”
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