Last year, during the first few months of 2021, GameStop experienced a significant rise in stock prices. Mainly driven by wildfire social media trends, GameStop’s share has risen by more than 1,700% in a matter of days. It was a strange situation that brought value to North America’s leading video game retailer.Now stock prices have skyrocketed again following the next rumor GameStop NFT project It may include Microsoft’s powerful capabilities in the near future.
Last week, news about the organization’s push to the Metaverse came out of the GameStop camp. At the beginning of February 2022, it was revealed that GameStop would launch a comprehensive NFT marketplace on Immutable X, the “first layer 2” of NFTs on the blockchain.Rumors that are currently prevalent suggest that: Microsoft may be affiliated To take advantage of GameStop NFT Push – and this has once again boosted the value of GameStop in the market.
What does this mean for the future of the NFT world?
GameStop won’t stop
The COVID-19 pandemic hit GameStop a lot, but the organization seems to be at the top. Following a series of store closures, GameStop Short Squeeze took over and stock prices rose rapidly and at an overwhelming rate.Since then, normality has returned and GameStop has Seeking a new way of profit,mainly Cryptographic game Sky.
The huge spike collapsed, but stock prices remained high overall. (Image credit: Statista)
With the rise of Games to play and earn And as NFTs grow in popularity, many technology companies are looking for ways to enter the industry. At the beginning of February 2022, GameStop announced a groundbreaking partnership with blockchain company Immutable X. President of Immutable XThe following became clear.
… What we are doing for GameStop is that we are the backend of their marketplace, which means we run all their transactions on our software. increase. We create their NFTs to help onboarding hundreds or thousands of game studios. They will use our $ 100 million joint fund to build this technology platform. We obviously work with many marketplaces, but GameStop will be a major entrant in this area.
Due to the huge financial support behind the GameStop NFT Marketplace / Project, the company is eager for the active participation of many small developers. Gamers have recently raised concerns about the integration of NFTs with mainstream video games, and Immutable X is trying to address these concerns. For example, one of the propulsion concerns is the environmental damage caused by the heavy energy consumption of the blockchain.
If Immutable X fulfills its mission, This effect is mitigatedProvides some relief to those who are interested in the environment.
Microsoft May Surface
On February 8, 2022, GameStop’s share price soared after rumors spread that Microsoft would also be involved in the project.
It’s important to say that these rumors are very loose at this point, but they already have a concrete impact on the market. Industry experts are now trying to determine how Microsoft fits into this partnership. Recent acquisitions Something like Activision Blizzard. Take one example from Reddit and it’s clear Where Microsoft may fit For puzzles.
It’s very easy because you can freely create and exchange NFTs on the Immutable X platform. GameStop can activate Hearthstone (Activision BlizzardSimply create an NFT for every card and distribute it according to your existing card collection to support the all-new Web3 platform. It’s as easy as it gets.
This is a rapidly developing space and it will be interesting to see where it will lead in the very near future.
