US video game and consumer electronics retailer GameStop has just announced it intends to launch an NFTs marketplace before the end of the second fiscal quarter of 2022.
The company first announced its plans in February.
Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news.
The platform will reportedly be based on Australian startup Immutable's second-tier Ethereum solution. The partners have created a joint fund of $100 million in IMX tokens intended to allocate grants to developers and content creators in the field of NFTs.
In addition, Immutable will also provide GameStop with up to $150 million in IMX "as certain milestones are reached."
The Wall Street Journal has reported citing a source the platform will allow users to buy, sell and trade non-fungible tokens based on in-game items.
Access more than 50 of the world's financial markets directly from your EXANTE account – including NASDAQ, London Stock Exchange and Tokyo Stock Exchange.
According to a regulatory filing with the SEC:
"As we scale and expand our core offerings we will simultaneously invest in additional growth, including blockchain, digital assets (including non-fungible tokens, Web 3.0 technology, and new destination formats for our stores."