A game retailer is creating a cryptocurrency-powered platform to compete with the likes of Steam and Epic Games. GameStop’s vision could provide a new path for independent developers, but it faces an uphill battle against bigger players in the gaming industry.
GameStop is one of the first retailers to offer NFTs on their platform. Gamestop is also a retailer that has been around for over 30 years. Read more in detail here: gamestop nft.
GameStop wants to launch an NFT marketplace and a $100 million fund for non-fungible token game creators. This will transform GameStop from a stock that is often referenced as a joke to a corporation that dabbles with bitcoin and Web3 technology.
The program, which is built on the Ethereum cryptocurrency blockchain platform Immutable X, is expected to debut later this year. The GameStop NFT marketplace was launched using the Immutable X platform. Immutable X, created by Immutable, aims to address two of Ethereum’s major flaws: its high energy consumption and accompanying “gas costs,” which might be prohibitively expensive when completing a transaction.
Immutable claims to counteract the environmental effect of its procedures by merging hundreds of thousands of transaction records into a single transaction and writing it to the Ethereum blockchain.
Gods Unchained is an NFT trading card game created by Immutable.
Benefits for users of immutable X
The new GameStop effort will benefit from current Immutable X customers who can take use of the new marketplace, thanks to Immutable’s existing relationships.
Immutable and GameStop also want to create a developer fund. Other non-gaming partners, such as TikTok, utilize the Immutable X platform; however, GameStop’s marketplace is positioned as a marketplace where gamers can buy and sell in-game items such as digital assets, weaponry, and character skins.
GameStop’s most recent passions
GameStop has said that it is interested in blockchain technology in recent job postings, stating the need for a “head of Web3 gaming” as well as a range of NFT-related positions.
The NFT is often described as a way for players to verify ownership of objects in-game, and it enables them to trade items outside of a sanctioned market, such as an in-game auction house. Cryptocurrencies and NFTs are also used to operate an in-game economy in games like Axie Infinity, which employs a “play-to-earn” business model.
However, some of the advantages are exaggerated, such as assertions that they would allow players to transport stuff across games. For a number of reasons, this option is often difficult and unattractive. In a Twitter thread, game developer Rami Ismail described some of these challenges.
So now my issue is: how do you use NFT to transfer this die to another game? The model consists of a cube with strange edges. The texture is solely applicable to that model created in that context, and it is saved in a texture file type that this game understands.
January 10, 2022 — Rami Ismail () (@tha rami)
Despite the criticism, some firms, such as Ubisoft, have continued to create NFT games, while others, such as S.T.A.L.K.E.R. 2 and Worms, have scrapped plans to include NFTs in their games. Part of the reason for this is user criticism, but developers aren’t happy with it either, with an overwhelming unfavorable response to a recent poll at the Game Developers Conference. By working with blockchain-native games, GameStop may escape the wrath that followed publishers and developers exploring with NFTs.
The GDC conducted a survey
What kind of influence has GameStop’s NFT marketplace had on the industry?
GameStop isn’t the first video game retailer to get into the NFT market. However, the endorsement of such a large store for NFTs is likely to inspire video game companies to join in. Ubisoft, the publisher of Assassin’s Creed, has already introduced Quartz, their new gaming platform, but it has already received some reaction from fans. Players will be able to exchange skins, guns, and other stuff with other players in the shooter Ghost Recon Breakpoint by utilizing Quartz and its NFTs, known as Digits.
Square Enix is also looking at developing an NFT platform, since the firm thinks that blockchains and NFTs will have a bright future in video games. According to Creative Bloq, Jace Kay, a member of Bored Ape, listed video game NFTs as a prominent NFT trend to watch in 2022. And it looks that GameStop agrees.
As an example:
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GameStop has announced the launch of a new platform that will allow users to trade in-game assets on their platform. The announcement was made through GameStop’s NFT Platform. Reference: gamestop nft announcement.
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